Flavored Water Market By Product Type (Flavored Water And Functional Water) And By Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)
According to the report Global Flavored Water market, published by Market Data Forecast, the Market is worth USD 23 billion in 2016 and estimated to grow at a CAGR of 9.7%, to reach USD 36.54 billion by 2021. The global Flavored Water market is developing at an exceptionally quick pace.
Flavored water is a sort of spring, cleaned, packaged mineral water with flavors added to it. Flavored water is a blend of mineral water, different organic product juices concentrations, (for example, pineapple, blackberry, mango, apple, strawberry, orange and others), normal sweeteners and artificial sweeteners.
While, the functional water is made from Flavored water and prepared using minerals, vitamins, herbs, crude products of the soil and oxygen. These added substances and cancer prevention agents give additional healthful esteems and advantages to functional water.
Developing health concerns has prompted the move from carbonated or simulated soda pops to sound choices including Flavored and functional water.
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Increasing awareness & Growing prevalence of obesity and about healthy lifestyle among population is expected to remain the key force governing the growth of the global flavored and functional water market. Reduced switching costs and health benefits are primary reasons for the popularity of functional water.
Also there are many flavors and options available are driving the market. Though prices of these functional and Flavored water are more than others, increasing income are able to compensate for that.
There are various campaigns against plastic usage in packing, this is a bit of problem for Flavored and functional water producing companies.
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The Global market for Flavored Water is segmented on the basis of type and region. Based on type, the market is segmented into Flavored water and Functional water.
Of these, functional water is expected to grow at a better pace as more people are inclining to healthier drinks instead of ordinary water/beverages.
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Geographically, the Flavored Water market is fragmented into North America, Europe, Asia-Pacific, Latin America and Middle East Asia. The U.S., France, Italy, Germany, and Japan represented the highest share of flavored and functional water in 2016, Asia Pacific has witnessed the fastest growing market.
Emerging economies in Asia are rapidly urbanizing, eventually adopting sophisticated lifestyle. Latin America and Middle East countries are also likely to represent considerably growing markets.
Middle East and Africa is expected to expand at a double digit CAGR during the forecast period.
Hint Water, Kraft Foods, Balance Water Company, Nestle Water, Herbal Water, PepsiCo, The Coca-Cola Company and Groupe Danone, New York Spring Water and Sunny Delight Beverage Company are the leaders in the global Flavored Water market.
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