The Asia Pacific Flavored Water Market is worth USD 3.97 billion in 2022 and estimated to grow at a CAGR of 7.92%, to reach USD 5.81 billion by 2028.
Flavored water is a blend of mineral water, different organic product juices concentrations, (for example, pineapple, blackberry, mango, apple, strawberry, orange and others), and it has added minerals and flavors to it.Different type of sweeteners are used for this purpose. While, the functional water is made from Flavored water and prepared using minerals, vitamins, herbs etc. These added substances and cancer prevention agents give additional healthful esteems and advantages to functional water. Developing health concerns has prompted the move from carbonated or simulated soda pops to sound choices including Flavored and functional water.
Growing awareness & Rising prevalence of obesity and about healthy lifestyle among population is expected to remain the key factor governing the growth of the global flavored and functional water market. Reduced switching costs and health benefits are primary reasons for the popularity of functional water. Though prices of these functional and Flavored water are more than others, increasing income are able to compensate for that. There are various campaigns against plastic usage in packing, this is a bit of problem for Flavored and functional water producing companies. There are many variations of functional water available.
Asia Pacific Flavored Water Market Segmentation Analysis:
The Asia Pacific market for Flavored Water is segmented on the basis of type and region. Based on type, the market is segmented into Flavored water and Functional water. Of these, functional water is expected to grow at a better pace as more people are inclining to healthier drinks instead of ordinary water/beverages.
Asia Pacific is geographically segmented into China, India, Japan, and South Korea. The Asia pacific region is largely driven by health concerns. Countries like India and China have immense potential for growth because of increased population , increased income levels and level of contaminated water. However in future Asia Pacific is relied upon to hold noteworthy market share.
Key Players in the Market:
Hint Water, Kraft Foods, Balance Water Company, Nestle Water, Herbal Water, PepsiCo, The Coca-Cola Company and Groupe Danone, New York Spring Water and Sunny Delight Beverage Company are the leaders in the global Flavored Water market.
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