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.
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Flavored Water Market Report Highlights
- The online distribution channel segment is expected to register the fastest growth rate during forecast years
- This growth is credited to the increasing popularity of online shopping portals across the globe
- North America is estimated to account for the maximum revenue share by 2028. However, Asia Pacific is likely to be the fastest-growing regional market during the forecast period
- The growth of the Asia Pacific regional market can be attributed to the high product demand among the younger population
- The sparkling product segment held the largest revenue share in 2020 due to high demand for these beverages on account of their health benefits
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Flavored Water Market Segmentation
Grand View Research has segmented the global flavored water market on the basis of product, distribution channel, and region:
Flavored Water Product Outlook (Revenue, USD Million, 2016 – 2028)
- Sparkling
- Still
Flavored Water Distribution Channel Outlook (Revenue, USD Million, 2016 – 2028)
- Supermarkets & Hypermarkets
- Convenience Stores
- Online
- Others
Flavored Water Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- The U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- Japan
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
List of Key Players of Flavored Water Market
- Nestlé
- 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
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Browse More Related Report:
Sparkling Water Market Size, Share & Trends Analysis Report By Product (Natural/Mineral, Caffeinated), By Distribution Channel (Hypermarket & Supermarket, Online), By Region, And Segment Forecasts, 2021 – 2028
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Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
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