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
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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