Market Overview
According to the experts, the global Flavored Water Market is going to reach up to 32.36 Billion during the forecast period 2022-2030. The estimated CAGR for the market is around 10%.
The growing demand for flavored, healthy, and effective drinks is driving the growth of markets around the globe. Flavored waters are the water that enhances the taste of the water by adding natural or artificial flavors. Functional water may be flavored but may contain vitamins, minerals, or infusions to improve health benefits to the consumer. The Flavored Water Market is combination of mineral water, common sugars, artificial sugars, and various natural items like mango, guava, apple, blueberry, blackberry, pineapple, strawberry, orange, etc.
The outbreak of Covid-19 has adversely affected the food and beverage industry, with the temporary closure of offices and weak interest. Though, The Flavored Water Market is rapidly reaching its pre-Covid level and a healthy growth rate is expected in most developing countries during the forecast period, driven by the economic recovery.
Companies operating the Flavored Water Market business are taking strategic steps to increase their market share by highlighting their USP statements, designing attractive product packaging, offering portfolios of different products, and displaying products on online platforms. These are some of the key winning strategies.
Flavored water markets use a method that incorporates custom fixings into their items that flashes the interest of buyers who focus on their well-being, prosperity, and well-being. These contributors encourage the companies to develop general net income while supporting the development of the Flavored Water Market.
Market Segmentation
The Flavored Water Market Share is segmented on Type, Packaging type, and Distribution Channel.
Based on Type the market is divided into Carbonated and Still.
Based on Packaging type the market is divided into bottles and cans.
The Flavored Water Market has further segmented into Store-based products and non-store-based products. The store-based products include supermarkets, hypermarkets, convenience stores, and online stores.
Regional Classification
Based on region the Flavored Water Market Trends is divided into North America, Europe, Asia, South America, and Africa.
North America Flavored Water Market is the dominating region in this market with a 37% share in 2020 due to the increasing use of healthy alternatives to carbonated beverages.
The fastest-growing market will be the Asia-Pacific due to the flood of wellness concerns among individuals and a growing interest in sweet, carbonated soda pops.
Buyers are increasingly avoiding carbonated baking soda and a variety of beverages and settling on better options. One of the fastest-growing patterns in the growing water market is the growing notoriety of wine water, considering that various companies usually offer ripe water that strengthens the cells associated with red wine without any sugar, alcohol, or calories.
Industry News
The Key Players in the Flavored Water Market enhance market growth by adopting various development methods, such as mergers and acquisitions and the delivery of new items, to further strengthen their foothold. For example, PepsiCo Inc. shipped five new jazz glasses of water under its bubbly image in February 2021.
The Coca-Cola Company is one of the central members working around the globe that enhance the Flavored Water Market Growth.
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