Flavored Water Market to Garner $31.26 Bn, Globally, by 2030 at 5.5% CAGR: Allied Market Research

Major determinants of the market growth Major determinants of the market growth Addition of new flavors and product varieties to flavored water, fortifying flavored water with minerals, alkaloids, and antioxidants, and robust branding and advertising by market playershave boosted the growth of the global flavored water market. However, rise in availability of alternatives anddental problems due to the usage ofadditives and sweeteners in flavored waterhinder the market growth. On the...

Major determinants of the market growth

Addition of new flavors and product varieties to flavored water, fortifying flavored water with minerals, alkaloids, and antioxidants, and robust branding and advertising by market playershave boosted the growth of the global flavored water market. However, rise in availability of alternatives anddental problems due to the usage ofadditives and sweeteners in flavored waterhinder the market growth. On the contrary, emergence of online shopping and eco-friendly packaging of flavored water are expected to open new opportunities in the future.

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Covid-19 scenario:

The sparkling water segment to dominate by 2030-

By product type, the sparkling water segment accounted for more thanthree-fourths of the global flavored water market share in 2020, and is anticipated to retain its dominance throughout the forecast period. This is owing to the wide availability of flavored water in the market, high market penetration, and refreshing taste offered to the consumers. The functional water segment, however, would showcase the fastest CAGR of 6.2% by 2030.

The lemon segment held the highest share in 2020-

By flavor, the lemon segment contributed to nearly one-fourth of the global flavored water market revenue in 2020, owing to its refreshing tangy taste and its wide availability. At the same time, the watermelon segment would cite the fastest CAGR of 5.7% by the end of 2030. The report also includes strawberry and orange segments.

North America to lead the trail in terms of revenue-

By geography, North America garnered the major share in 2020, contributing to more thantwo-fifths of the global flavored water market. This is due to the rising awareness and increase in marketing activities in developing nations such as U.S., Mexico, and Canada. Simultaneously, the Asia-Pacific region would manifest the fastest CAGR of 7.4% throughout the estimated period.

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