Flavored Water Market - Future Trends, Revenue Growth & Leading Players, Forecast To 2028

The global flavored water market size was valued at USD 13.50 billion in 2020 and is expected to witness a compound annual growth rate (CAGR) of 10.3% from 2021 to 2028.

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.

Related Press Release@ Flavored Water Market Report

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