Explore The Flavored and Functional Water Market Exhibiting A CAGR Of 11.5% By 2019
Verfasser: yogesh on Wednesday, 5 December 2018According to a new market report published by Persistence Market Research “Global Market Study on Flavored and Functional Water: Asia Pacific to Witness Highest Growth by 2019” the global flavored and functional water market was valued at USD 17.2 billion in 2012 and is expected to grow at a CAGR of 11.5% from 2013 to 2019, to reach an estimated value of USD 36.7 billion in 2019.
Increasing obesity rate, rising aging population and changing consumer preferences are the major growth drivers for the global flavored and functional water market. Growing health concerns is restraining the masses from consuming carbonated or artificial flavored drinks and compelling them to opt for flavored and functional water. Flavored and functional water are generally priced similar to carbonated drinks, which reduces the switching costs for the consumers, thus increasing flavored and functional water attractiveness. Major growth challenges for the flavored and functional water industry include threat of substitutes and increasing campaign against packaging bottles. Emerging markets such as countries in Asia, Latin America and the Middle East have witnessed rising urbanization and increasing disposable income, which act as an opportunity for the flavored and functional water. Increasing urbanization has increased the awareness levels of the consumer regarding the products that help in their wellbeing.