The inclination towards sugar-free beverages is an indicator of the growing health-consciousness among consumers. Rising levels of obesity and unhealthy lifestyles followed due to changing work habits have influenced the sales of flavored water.
The global flavored water market report by Market Research Future (MRFR) contains exclusive insights gleaned by in-house experts through painstaking research and interviews with leaders of flavored water brands. Flavored Water Market is Anticipated to Reach USD 32.36 Billion by 2030 with 10.0% CAGR By 2022 to 2030
Market Outlook
Flavored water-based drinks contain a blend of seasonal fruits and other healthy ingredients deemed to refresh the minds of consumers or employees. Variety of flavors and eye-popping packaging can drive the market growth from 2022 to 2030 (forecast period). Health benefits of flavored water beverages combined with the rise of the geriatric populace can influence sales of the market.
The declining sales of sugar-based beverages has facilitated the growth of the market. A perfect instance is of Hint which gained attention due to experiencing attention from professionals working in and around Silicon Valley. Immense demand by software professionals is likely to drive the flavored water market demand till 2030. Furthermore, demand for such beverages to be stocked in mini fridges and cafeterias of small and medium firms can bode well for the market.
Concerted efforts by manufacturers in introducing new flavors as well as the launch of new products which can enhance the external appearance of individuals are other major drivers of the market. But the inclusion of artificial ingredients can pose a challenge to the market.
Segmentation Analysis
The global flavored water market is segmented by type, flavor, packaging material, and distribution channel.
By type, it is segmented into carbonated and non-carbonated flavored water. The carbonated segment is predicted to dominate the global market due to launch of new flavors. This is evident by the high sales of LaCroix due to its launch of tangerine and coconut flavors. On the other side, the non-carbonated segment can exhibit a robust CAGR during the forecast period.
By flavor, it is segmented into apple, mixed berry, orange, lemon, and others. Lemon is expected to take the topmost position in the market followed by orange.
By packaging material, it is segmented into plastic and glass. The plastic segment is touted to lead the flavored water market due to availability of plastic and low production cost of the material. On the other hand, glass is likely to gain traction in the coming years.
By distribution channel, it is segmented into store-based and non-store-based. The store-based segment is currently taking the lead in the market. But the non-store-based segment can capture a large market share in the coming years.
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Regional Analysis
Regionally, the global flavored water market covers North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
Europe has assumed the lead in the market and will continue its reign over the forecast period due to high levels of consumption from Germany, France, and Italy. North America has gained second position in the market due to high sales in the U.S. Brands are at the forefront of employing all mediums for gaining a place in the mind of the consumer. Recently, Bai Brands aims to launch new beverages with a focus on sugarless formulations.
The APAC region is touted to exhibit the fastest CAGR over the forecast period due to sales of flavored water drops which can soothe the nerves of kids and adults. China, Japan, and India are countries which can contribute to the regional market revenue due to a large consumer base and high disposable income levels of consumers.
Lastly, Latin America and the Middle East & Africa can exhibit modest growth rates during the forecast timespan due to inclination towards healthy diets.
the flavored water market trend has experienced a significant surge in popularity, reflecting changing consumer preferences towards healthier and more exciting beverage options. This trend is driven by a growing emphasis on wellness and hydration, prompting consumers to seek alternatives to sugary sodas and juices. Flavored water offers a refreshing and low-calorie option with a wide range of natural flavors, such as fruit-infused and botanical varieties. Moreover, the market has seen innovation in functional ingredients, including vitamins, electrolytes, and adaptogens, catering to consumers' specific health needs. As sustainability concerns gain prominence, eco-friendly packaging and responsibly sourced ingredients have also become key factors shaping this market's trajectory. The flavored water market's evolution is characterized by its ability to align with multiple consumer demands, ultimately shaping a vibrant landscape for beverage choices.
Competitive Outlook
Major brands in the flavored water market include The Coca-Cola Company, Hint, Inc., Clearly Canadian, Sunny Delight Beverages, PepsiCo, Kraft Heinz, Crystal Geyser Water Company, Ayala, O Beverages, LLC, Nestlé, and others.
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