The introduction of innovative flavors by market players in the flavored water industry to pique customer interest & give a lucrative potential for growth

PORTLAND, OR, US, March 17, 2023 /EINPresswire.com/ -- Allied Market Research recently published a report, titled, "Flavored Water Market by Type(Sparkling Water, Functional Water, and Still Water), Flavor (Lemon, Watermelon, Strawberry, Orange, and Others), Packaging (PET Bottles and Cans),and Sales Channel (Hypermarkets/Supermarkets, Convenience Stores, Online Channels and Others): Global Opportunity Analysis and Industry Forecast 2021–2030."As per the report, the global flavored water industry was accounted for $17.78 billion in 2020, and is expected to reach $31.26 billion by 2030, growing at a CAGR of 5.5% from 2021 to 2030.

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Major determinants of the market growth

Addition of new flavors and product varieties to flavored water, fortifying flavored water with minerals, alkaloids, and antioxidants, and robust branding and advertising by market players have boosted the growth of the global flavored water market. However, rise in availability of alternatives and dental problems due to the usage of additives and sweeteners in flavored water hinder the market growth. On the contrary, emergence of online shopping and eco-friendly packaging of flavored water are expected to open new opportunities in the future.

Top Key Companies Are:

The players operating in the global flavored water market have adopted various developmental strategies to expand their flavored water market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Danone SA, Disruptive Beverages, Inc., Harvest Hill Holdings, LLC, Hint, Inc., Keurig Dr. Pepper, Inc., Miami Bay Beverage Company, LLC, Nestle SA., Pepsico, Inc., The Coca Cola Company, Unique Foods (Canada), Inc., National Beverage Corporation, New York Spring Beverage, Inc. Frozen Garden, LLC., Drink Simple, Inc., Spindrift Beverage Co., Inc, Just Goods, Inc., Vitamin Well AB, Functional Beverage Company, AcquaMinerale San Benedetto S.p.A., and Waterloo Sparkling Water Corp.

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Dietary sugar is used for the preparation of flavored water. It adds taste to the product, ensuring that the water maintains its distinct taste and increases the shelf life. Sugar in the diet, particularly in liquid form, increases the risk of dental cavities, obesity, and type 2 diabetes. In 2016 Soft Drinks Industry Levy, introduced sugar tax, and in 2018 it was implemented and was adopted by 39 countries from different regions.

Key Findings Of The Study

-> On the basis of flavored water market analysis for type, the sparkling water segment is projected to witness the highest CAGR of 5.3%, in revenue terms, during the forecast period.
-> On the basis of flavor, the lemon segment is expected to dominate the market from 2021 to 2030.
-> On the basis of flavored water market trends for packaging, the PET bottles segment is projected to witness the highest CAGR of 5.8%, in revenue terms, during the forecast period.
-> On the basis of sales channel, the hypermarkets/supermarkets segment is expected to grow at a significant CAGR during the flavored water market forecast period.
-> On the basis of region, U.S. was the largest country, in terms of revenue generation for flavored water market in 2020.
-> On the basis of region, Asia-Pacific is anticipated to witness highest growth rate, registering a CAGR of 7.4% from 2021 to 2030.

Regional Outlook:

North America to lead the trail in terms of revenue-

By geography, North America garnered the major share in 2020, contributing to more thantwo-fifths of the global flavored water market. This is due to the rising awareness and increase in marketing activities in developing nations such as U.S., Mexico, and Canada. Simultaneously, the Asia-Pacific region would manifest the fastest CAGR of 7.4% throughout the estimated period.

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