Flavored water is gaining popularity among the consumers owing to various health benefits associated with them. Moreover, the variety of flavors available in the market is driving the market growth. Also, different flavors have different health benefits associated with them such as adding a slice of lemon to the water offers key nutrients and disease-fighting benefits, orange adds various vitamins to the drink, and so on. Increasing health problems among the growing population followed by growing interest in flavored water are driving the growth of flavored water market globally.
Drinking plenty of water is essential for the human body as it assists in curing most of the body problems. However, water being tasteless, many find it difficult to consume the right amount of water required for the body. Flavored water provides a solution to this problem by adding flavors and taste to the water, which increases its intake among the population. Different natural flavors available in the market such as lemon, mixed berry, orange, apple, and others add health benefits along with taste to the water which is attracting the consumers towards this market. Manufacturers are making continuous efforts and coming up with various innovative products which are further linking benefits of flavored water to health and beauty regimes. Growth in the retail sector is also propelling the growth of the market owing to the ease of availability of the product to fulfill its growing demand. However, artificial ingredients added to the flavored water is a restraint to the growth of the market.
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Major Key Players Analysis:
Some of the key players profiled in the global flavored water market are The Coca-Cola Company (U.S.), Crystal Geyser Water Company (U.S.), Clearly Canadian (Canada), PepsiCo (U.S.), Hint, Inc. (U.S.), O Beverages, LLC (U.S.), Nestlé (Switzerland), Kraft Heinz (U.S.), Ayala (Philippines), Sunny Delight Beverages (U.S.), and many more.
On the basis of the type, flavored water is segmented into carbonated and non-carbonated flavored water. Among them, the carbonated flavored water is witnessed to be dominating the market. However, the non-carbonated flavored water is anticipated to be the fastest growing segment over the forecast period.
Based on the flavors, the flavored water market is segmented into mixed berry, lemon, orange, apple, and others. Among all, the lemon segment is witnessed to be dominating the market followed by the orange segment.
Based on the packaging material, the flavored water market is segmented into glass and plastic. Among them, the plastic segment is witnessed to be dominating the market. However, glass segment is observed to have substantial growth over the forecast period.
On the basis of the distribution channel, the market is segmented into store-based and non-store based distribution channel. The store-based distribution channel is dominating the market owing to one-stop shop experience followed by a wide range of options available on one shelf.
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Flavored Water Market is segmented into Europe, Asia Pacific, North America and rest of the world (RoW). Europe is dominating the market followed by North America. Presence of major key players in North America and continuous product innovation initiated by them is propelling the growth of the flavored market in this region. High inclination of consumers towards functional beverages in Europe is driving the market for flavored water in this region.
Asia Pacific is projected to be the fastest growing region over the forecasted period. Changing lifestyle followed by increasing health concerns among the population in developing countries is majorly contributing to the growth of this market in Asia Pacific. Latin America is also expected to witness moderate growth over the estimated period.
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