Published on : Jan 06, 2016
A widespread shift in consumer habits regarding the consumption of beverages in evident in the global arena. A few years ago, carbonated drinks were trending in the global beverage industry. Nowadays, the trend has been changed and the focus has shifted towards flavored and functional water.
The market for flavored and functional water is carving a niche in the global arena. Here is a comprehensive overview of the latest trends in this market and their impacts.
- The flavored water segment enjoys a much wider penetration range compared to its functional counterparts in the overall beverages market. However, this trend is likely to be overturned in the coming years on account of the rapid rise in the worldwide functional water market.
- The highest demand for flavored and functional water is from Europe. Germany, France, and Italy are the major consumers of these water in this region.
- Most of the demand for flavored and functional water in North America comes from the U.S.
- Asia Pacific is also exhibiting a robust rise, proving itself a tough completion for other regional markets for flavored and functional water. Japan has emerged as the biggest consumer for these beverages in Asia Pacific.
- The most demanded variant of flavored water in the global arena is citrus-flavored water. Apart from this, berry- as well as mixed fruit-flavored variants are also exhibiting impressive growth.
- The rising trend of ‘consumption on the go' is boosting the market for flavored and functional water significantly.
- Although, the increasing number of convenience outlets have boosted the rate of revenue generation for producers and retailers, producers continuously need to innovate their products to nurture their brands.
On a whole, the flavored and functional water market looks thriving in terms of both, volume and revenue.
Groupe Danone, The Coca-Cola Co., Nestlé SA, PepsiCo, New York Spring Water, Hint Water, Kraft Foods, Sunny Delight Beverages Co., and Balance Water Co. are the major flavored and functional water producers across the world.