Research and Markets released an analysis of the global flavored water market that indicates the market size is expected to reach $29.56 billion at a 10.3% CAGR by 2028.
The report points to a growing consumer preference for healthy alternatives to soft drinks as the major driving factor for market growth. The market has significant competition with key brands like LaCroix having a strong global presence and vast distribution networks.
The sparkling product segment and supermarket distribution channel had the largest revenue shares in the market in 2020. The online distribution channel segment is expected to register the fastest growth rate during forecast years
North America dominated the market in 2020 with the highest revenue and the presence of many manufacturers.
Although North America is estimated to account for the maximum revenue share by 2028, the fastest-growing regional market during the forecast period is predicted to be Asia Pacific, due to a high product demand among the younger population.