PUBLISHER: Market Research Future | PRODUCT CODE: 1503284
PUBLISHER: Market Research Future | PRODUCT CODE: 1503284
Flavored water is created by infusing water with a variety of fruits, vegetables, and herbs. The demand for this product is increasing in the ready-to-drink (RTD) beverages category because of its numerous health benefits. The flavored water market in North America has experienced a significant compound annual growth rate (CAGR) of 7.34% in recent years. Health-conscious consumers favor flavored water over fizzy drinks, juices, and dairy-based beverages, which are high in sugar and calories. The primary factors fueling the growth of the market are the increasing health awareness and the rapid expansion of online sales platforms. The flavored water market in North America is extremely fragmented, with a mix of large and medium-sized players. These firms are emphasizing product innovation and innovative flavors to enhance their market presence.
Different flavors are added to carbonated or still water to create flavored water. The consumption of flavored water has increased. Lemon, orange, mixed berry, and apple are among the most frequently used flavors that are infused into water. These beverages are also available with added vitamins and minerals. They have nil to low calorie counts.
Flavored water is a beverage that has been infused with a variety of flavors, particularly fruits, vegetables, and seasonings. The rapid expansion of online sales platforms and the increasing health consciousness of consumers are the primary factors driving the growth of the flavored water market in North America. Nevertheless, the market's expansion is being impeded by the proliferation of flavored water substitutes. Market participants are anticipated to capitalize on lucrative opportunities in the years ahead because of the increasing demand for natural and clean-label beverages, as well as product innovation and promotions.
The North American flavored water market has been divided into carbonated and still categories based on type. The carbonated segment held the largest market share of 56.36% in 2020 and is anticipated to experience a compound annual growth rate (CAGR) of 7.13% during the forecast period. Conversely, the still segment is anticipated to exhibit a higher CAGR of 7.61% during the review period.
The North American flavored water market has been divided into two segments: store-based and non-store-based, as determined by the distribution channel. The non-store-based segment is anticipated to exhibit a higher CAGR of 8.07% during the review period, while the store-based segment is expected to register a 7.14% CAGR during the forecast period. In 2020, the store-based segment accounted for a larger market share of 79.19%.
The North American flavored water market has been divided into the United States, Canada, and Mexico based on country.
This market is dominated by the following companies: PepsiCo. Inc. (US), The Coca-Cola Company (US), Nestle S.A. (Switzerland), Keurig Dr. Pepper (US), Polar Beverages (US), Crystal Geyser Water Company (US), Danone S.A. (France), Hint Inc. (US), The Kraft Heinz Company (US), and Talking Rain Beverage Company (US).