Flavored water is part of the category of products that provides hydration like water albeit with value-added features. These features mainly relate to the flavor and taste of water which is enhanced in the product. Many of these flavored water products contain further features like zero calorie and zero sugar or artificial sweeteners, which are among the features that draw in the new-age consumer. Flavored water includes herbal as well as fruit flavored products whose flavor may be derived by adding concentrates or as infusions. The use of such flavors helps to convey a positive product image and hence widen the appeal across demographic and geographic boundaries.
Flavored Water Market Outlook
- The modern consumer’s quest for value-added products has led the manufacturers to launch products like flavored water to cater to the emerging demand. These products provide the hydration of water along with a pleasant taste of fruits and herbs which appeals to the millennials among others, thus catering to a wide consumer base. These factors are expected to boost the consumption of flavored water over the forecast period from 2020 to 2026.
- Consumers prefer to have clear labelling information and give importance to quality & purity over the product’s origin. Combined with the augmenting income of the consumer base, it has led to ripe conditions for progress in the flavored water market since the consumers would be more likely to purchase it given a higher disposable income. A wide variety of information sources are enabling consumers to make informed purchasing decisions and new product launches to grow market share and cater to newer geographies and demographics are also expected to be a driving factor.
Flavored Water Market Regional Highlights
- North America and Europe together account for a major share of the flavored water market in 2019. This is owing to a mature consumer base with awareness about the various types of products available on the market.
- The developing regions in Asia Pacific and Latin America are witnessing a phase of economic expansion. This has consequent effects on the disposable income as well as the number of working people as a proportion of the whole population. This interaction of demographic and economic factors would result in attractive opportunities for the key players in the flavored water market over the forecast period from 2020 to 2026.
Flavored Water Market Segmental Overview
- Fruit and herb flavors are among the most preferred by the consumers. The fruit segment has a wider appeal owing to its appeal to consumers coupled with familiarity with the ingredients. It also has a wider variety and can be paired with other fruits and flavors to provide a unique taste experience to the consumer.
- The online distribution channel is expected to boost the flavored water market owing to effective communication about product details and the option to compare with similar brands and competing products. The ability to make an informed choice would draw in a larger number of consumers to this channel over the forecast period.
Flavored Water Market Key Players
The major companies operating in the flavored water market include Aqua Maestro, Inc, Balance Trading Company, Danone S.A, Disruptive Beverages Inc, Hint Inc, Juicy Juice, Just Goods Inc, KRAFT Foods, Nestle Waters of North America Inc, NYSW Beverage Brands, Inc, PepsiCo Inc, Saratoga Spring Water Company, and The Coca-Cola Company among others.
The key players in the flavored water market are keeping their ears to the ground so as to not miss out on any upcoming market developments. Keeping a pulse of the rapidly changing consumer behavior would benefit the makers and would enable them to stay ahead of the curve to obtain a competitive edge in a dynamic market. In this regard, new product development and adopting sustainable manufacturing practices is a leading strategy being adopted by the manufacturers given the nature of the market.