The Global Flavored Water Market size is expected to reach $24. 9 billion by 2027, rising at a market growth of 8. 1% CAGR during the forecast period. Flavored water refers to a beverage that comprises water with added natural or artificial flavor, herbs, and sweeteners, and generally contains lower calories as compared to non-diet soft drinks.
New York, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Flavored Water Market By Distribution Channels, By Product, By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06131413/?utm_source=GNW
In most of cases, flavored water adds minerals and vitamins with the inclusion of fruits with an aim to promote their products in the market. Also, awareness regarding the importance of water consumption is constantly increasing among consumers as it is one of the essential components of a healthy lifestyle.
Maintaining the optimal hydration level in the body enhances energy levels and assists in keeping healthy skin. Water, in comparison to conventional carbonated drinks, juices, and coffee is free from any calories and no harmful properties. Flavored water provides all the advantages of pure water but with the addition of good taste, and with so many interesting and exciting flavor products available.
The leading players operating in the global flavored water market are constantly introducing innovative products in order to cater to the ever-changing demands of consumers who are more conscious about their health. For example, in May 2019, National Beverage Corp. came up with a new flavor, Hi-Biscus! under its LaCroix brand. The new sparkling water contains zero sweeteners, carbohydrates, or sodium, and has a unique flavor of the hibiscus flower. Therefore, the growth of this segment would be boosted by the introduction of these products during the forecast period.
The outbreak of the COVID-19 has been declared as a global pandemic by the WHO. The global COVID-19 pandemic has brought an uncertain situation across the world, causing global rescission. The pandemic has impacted the commodity market in various ways. The demand for essential goods such as groceries has witnessed an abrupt surge. Owing to the outbreak, consumers getting more conscious about their health and are taking diets that can assist them to boot the immune system. Water intake in optimal quantities is necessary for the body because it helps in boosting the metabolism, immune system, and detoxes the body. Therefore, the demand for flavored water has witnessed a surge during the pandemic. In addition to it, the inclination towards natural and organic flavors in flavored water is increasing at a fast pace as the plant and herbs sources incorporated in flavored water is extremely beneficial for the health of human.
However, there is a massive demand for flavored water among the consumers; several aspects are influencing the market current dynamics. The coronavirus crisis has created a chaotic situation among the consumers with the imposition of strict lockdown guidelines, and the shutdown of retail stores with an aim to curb the spread of the virus. This resulted in a panic purchasing among the buyers and the stockpiling of essential goods, thus created a massive burden on supermarkets & hypermarkets, and convenience stores as they are running out of stock and the grocery shelves for popular goods remain empty.
Distribution Channels Outlook
Based on Distribution Channels, the market is segmented into Supermarkets & Hypermarket, Convenience Stores, Online and Other Channels. The supermarkets & hypermarkets segment procured the highest revenue share in 2020 and would exhibit a considerable growth rate throughout the forecast years. In the last few years, there is a sharp increment in the number of consumers who are willing to purchase bottled water from hypermarkets & supermarkets due to the shopping experience.
Based on Product, the market is segmented into Sparkling and Still. the still product segment would be the fastest-growing segment throughout the forecast period. The growth of this segment would witness bright prospects with the high & easy accessibility of a broad range of still water items that are incorporated with antioxidants, minerals, caffeine, and vitamins. In addition to it, the emerging viewpoint regarding sparkling beverages that they cause low bone mineral density and tooth decay has been motivating many consumers to make a transition towards still alternatives.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Europe region obtained a substantial share of the global flavored water market. Health-conscious consumers highly prefer naturally carbonated and natural flavored waters with high content of minerals in them. The flavors included in the drinks are frequently extracted from natural fruit extracts. The sales of the products are extremely high in various countries like the U.K., Germany, France, Italy, and Spain, where the product is frequently served with meals in restaurants.
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Nestle S.A., The Coca Cola Company, and PepsiCo, Inc. are the forerunners in the Flavored Water Market. Companies such as Danone S.A., Talking Rain Beverage Company, Hint Water, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include PepsiCo, Inc., The Coca Cola Company, Otsuka Pharmaceutical Co., Ltd. (Crystal Geyser Water Company), Hint Water, Inc., Nestle S.A., The Kraft Heinz Company, Danone S.A., Keurig Dr Pepper, Inc., Polar Beverages, Inc., and Talking Rain Beverage Company.
Recent strategies deployed in Flavored Water Market
Partnerships, Collaboration, and Agreements:
Apr-2021: PepsiCo Beverages North America signed a distribution agreement with Proud Source Water. This agreement aims to place the sustainably packaged alkaline water brand on blue trucks providing foodservice vendors, stadiums, and retailers in the Western region.
Jul-2020: Keurig Dr Pepper signed an agreement with Polar Beverages, a soft drink company. This agreement aimed to offer national distribution to Polar Seltzer sparkling seltzer waters that include Polar Seltzer’ade & SeltzerJR, over all channels via the power of KDP’s direct store delivery (DSD) & manufacturing network.
Jun-2020: Pepsi-Cola Bottling Company entered into a partnership with Yerbaé Enhanced Sparkling Water. The companies aimed to introduce a 16oz can lineup with four flavors including Watermelon Strawberry, Black Cherry Pineapple, Mango Passionfruit, and Iced Triple Berry.
Acquisition and Mergers:
Mar-2021: Nestle took over Essentia Water, a processor of ionized alkaline water. Under this acquisition, Essentia provides an immediate strong presence in the high-growth, functional water segment and complements its efforts to fulfill opportunities with growing consumer trends like healthy hydration.
Feb-2020: Danone came into an agreement to acquire Harrogate Water Brands. This acquisition aimed to expand Danone Waters’ portfolio in the U.K. and assist in meeting the demand for sparkling water and on-the-go consumption.
Jan-2020: Keurig Dr Pepper took over Limitless, a Chicago-based caffeinated sparkling water brand. This acquisition aimed to help grow the distribution for Limitless products that are primarily sold in Walmart. Through this acquisition, Keurig Dr Pepper expanded its water portfolio that includes Core Hydration, Bai and Evian, and also some sparkling water brands.
Product Launches and Product Expansions:
May-2021: PepsiCo launched Soulboost, a functional sparkling water brand, which is available in two varieties Lift and Ease. The Lift variety contains 200 mg of panax ginseng to help in supporting mental stamina. It is accessible in blueberry, pomegranate, and black cherry citrus flavors.
Apr-2021: Dr Pepper, a brand of Keurig Dr Pepper launched Dr Pepper Zero Sugar. This new variety can be accessible across Plano, Texas in original, cream soda and cherry flavors.
Mar-2021: Danone unveiled new flavored water with vitamin B6, which is an addition to its Volvic Touch of Fruit portfolio. The Touch of Fruit Pineapple & Orange Vitality with added vitamin B6 fulfills consumer demand for healthy soft drink options.
Oct-2020: Talking Rain Beverage Company introduced Talking Rain Essentials Hydration, new functional water in its family of various better for you beverages. This product is alkaline water centered on maintaining consumers’ balance and staying hydrated.
Jul-2020: Nestle’s Pure Life brand released Fruity Water, a line of beverages for children made with water, natural flavors, and electrolytes. It is packaged in a 6.75-oz carton, the beverages that are accessible in three flavors including Tropical Twist, Apple, and watermelon, and sold in packs of eight, 24, and 32.
Scope of the Study
Market Segments covered in the Report:
By Distribution Channels
• Supermarkets & Hypermarket
• Convenience Stores
• Other Channels
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• PepsiCo, Inc.
• The Coca Cola Company
• Otsuka Pharmaceutical Co., Ltd. (Crystal Geyser Water Company)
• Hint Water, Inc.
• Nestle S.A.
• The Kraft Heinz Company
• Danone S.A.
• Keurig Dr Pepper, Inc.
• Polar Beverages, Inc.
• Talking Rain Beverage Company
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