Flavored Water Market Is Expected To Witness A CAGR Of 10.3% From 2021 To 2028

 Flavored Water Industry Overview

The global flavored water market size is expected to reach USD 29.56 billion by 2028, registering a CAGR of 10.3% over the forecast period, according to a new report by Grand View Research, Inc. Increasing consumer preference for healthy alternatives to sugary soft drinks is the major factor driving the market growth. Moreover, the product contains a good amount of minerals and vitamins, which help maintain blood pressure levels and improve bone health, brain health, and immunity. The sparkling product segment dominated the market with the largest revenue share in 2020. The sparkling waters with added benefits of fruits and herbs have a high demand as it is a healthy alternative to fizzy drinks. Over the years, sparkling drinks with low or zero sugar and zero-calorie content are gaining popularity among young health-conscious consumers.

 

In 2020, the supermarkets & hypermarkets distribution channel held the largest revenue share of the market. The factors, such as easy product accessibility, well-organized shelves, and provision of home delivery and “click and collect” services, have boosted the sales of the products through these distribution channels. Lately, products containing vitamins and flavors including orange, lemon, apple, and mixed berry have been making space on supermarket shelves. North America dominated the market in 2020 accounting for the highest revenue share owing to the high product consumption as a healthier alternative to other sugary carbonated beverages. The presence of a large number of manufacturers in North America will further boost market growth over the forecast years.

The market can be characterized by significant competition owing to the presence of key players with a strong global presence and vast distribution networks. Companies have been introducing healthy and innovative flavors to attract consumers. For instance, in May 2019, National Beverage Corp. launched a new flavor, Hi-Biscus! under its LaCroix brand. This new sparkling water has no carbohydrates, sweeteners, or sodium, and has a unique flavor of the hibiscus flower. These product launches are estimated to drive market growth over the forecast period.


Flavored Water Market Segmentation

Grand View Research has segmented the global flavored water market on the basis of product, distribution channel, and region:

Based on the Product Insights, the market is segmented into Sparkling, and Still.

  • The sparkling product segment accounted for the highest revenue share of more than 72% in 2020 and is estimated to expand further at a steady CAGR from 2021 to 2028. The increase in demand for flavored bubbly and fizzy hydration products is projected to drive the segment growth.

 

  • The still product segment is expected to register the fastest CAGR during forecast years. The availability of a wide range of still water products that are enriched with minerals, antioxidants, vitamins, and caffeine is estimated to boost the segment growth in the years to come. 

 

Based on the Distribution Channel Insights, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Online, and Others.

  • The supermarkets & hypermarkets segment accounted for the largest revenue share of over 55% in 2020 and will grow further at a steady CAGR from 2021 to 2028. A large number of consumers prefer buying bottled water from supermarkets & hypermarkets due to the shopping experience.
  • The online distribution channel segment is expected to register the fastest CAGR of more than 11% over the forecast period. The provision of competitive pricing and hassle-free home delivery are driving the growth of this sales channel.

 

Flavored Water Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies & Market Share Insights

The key players have been implementing various expansion strategies, such as mergers & acquisitions and new product launches, to strengthen their market share. For example, in February 2021, PepsiCo Inc. launched five new caffeinated sparkling waters under its Bubly brand. The company has expanded its line of caffeinated drinks with the addition of mango passion fruit, blood orange grapefruit, triple berry, blueberry pomegranate, and citrus cherry flavors. Some of the key players operating in the global flavored water market include:

  • NestlĂ©
  • Talking Rain
  • PepsiCo, Inc.
  • The Coca-Cola Company
  • Hint, Inc.
  • Spindrift
  • National Beverage Corp.
  • Sanpellegrino S.P.A.
  • KeurigDr Pepper, Inc.
  • Saratoga Spring Water Company

 

Order a free sample PDF of the Flavored Water Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter

Comments

Post a Comment

Popular posts from this blog

Cash Logistics Market: Cash Management Is Expected To Account For A High CAGR In The Coming Years

  Cash Logistics Industry Overview The global cash logistics market size was valued at USD 23.03 billion in 2021 and is expected to expand at a CAGR of 8.2% from 2022 to 2030 as there is an alarming need for safety in cash handling practices. Factors such as the growing cash transactions, rise in the demand for the presence of ATMs, and surge in demand for the cash vaults are the major factors boosting the global logistics market. Additionally, an increase in the number of ATMs by banks in the urban as well as the rural areas to offer better services to the customer is also expected to create lucrative growth opportunities for the market over the forecast period. Subsequently, the cash needs to be moved periodically, and hence its safe and reliable transportation is of huge concern. Therefore, automated processes play a significant role in resolving challenges in logistics. Companies are developing Al-based ATM security software to increase accuracy in cash replenishment services...
Read more

Data Preparation Sector for Business Intelligence: Best Practices 2023-2030

  Data Preparation Industry Data Book | Forecast 2030 Data Preparation Industry Data Book - Data Collection and Labelling, Data Labelling Solutions and Services & Data Integration Market Grand View Research’s data preparation industry data book is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research. Access the Global Data Preparation Industry Data Book, 2023 to 2030 , compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies   Data Collection And Labeling Market Report Highlights Automated image organizatio...
Read more

Smart Toys Market: Distribution Channel, The Offline Segment Held The Largest Revenue Share

  Smart Toys Industry Overview The global  smart toys market  size is expected to reach USD 34.13 billion by 2028, based on a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 16.5% from 2021 to 2028. The rise in disposable income, coupled with the growing demand for coding skills, is fueling the growth of the market. The growing importance of coding and STEM learning in schools and other organizations is propelling the demand for smart toys. The use of educational robots in classrooms for storytelling and play-to-learn interactive tablet toys help in delivering superior gaming and learning experience to students and players. Key players in the market are utilizing TV media and famous cartoon characters to capitalize on branded content to improve the entertainment value. The inclusion of social media and OTT platforms provides companies in the market to garner a larger consumer base in the market. Dora the Explorer and Sesame Street are some ...
Read more