Global flavored water market overview and outlook:
- Flavored water is basically water that is infused with fruits, vegetables or herbs and is perceived as healthier than soft drinks and other beverages due to its lower calorie content
- In terms of product type, the carbonated segment dominated the overall market in 2019; however, the still water segment is expected to grow at a faster pace
- Geography wise, North America will continue to dominate the market for flavored water while the Asia Pacific region is expected to register the highest CAGR during the forecast period, due to rise in health consciousness among consumers
- We are experiencing changing in consumer preferences towards new and unusual taste combinations, demand for flavorful and functional beverages, which bodes well for the industry growth
- The global flavored water market is forecast to grow at a CAGR of 6-7% during 2020-24 on account of rising awareness about health and nutritional products
- The global market is relatively fragmented with the presence of large and medium-sized companies focused on making innovations in products and flavors
- Key companies operating in this segment include Keurig Dr Pepper, Danone, The Kraft Heinz Company, Nestlé, Coca-Cola Company, Polar Beverages and PepsiCo
- In February 2020, BLNCD Naturals, a leading CBD health and wellness brand in the US launched three new flavors of CBD-infused sparkling waters, in partnership with Big Watt Coffee.
Market Growth Drivers and Trends:
- Key factors driving the global flavored water market are:
- Growing health awareness
- Product marketing and promotion
- Increasing urbanization
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Challenges disrupting the market:
- Key factors likely to restrain or slow down growth in the global flavored water market :
- Competition from other more popular substitutes
- Low awareness and penetration in emerging geographies
Global Flavored Water Market Research Scope
- The base year of the study is 2019, with forecast done up to 2024. The report provides a detailed assessment of the global flavored water market, including insights on the market dynamics, key drivers, challenges and regulations impacting the market.
- We have also estimated the current market size for flavored water globally and by geography, type and by packaging type; 5-year outlook of the market, factors driving growth along with regional insights and trends
The study also presents a thorough analysis of the competitive landscape, considering the market shares of the leading companies. These provide the key market participants with the necessary intelligence and help them understand the future of the global flavored water market.