The Asia-Pacific water enhancer market size is expected to expand at a significant CAGR during the forecast period, 2021–2028. Growth of the market is attributed to rising awareness of the product in the urban center.
Water enhancer is a concentrated seasoned fluid that is meant to be mixed into ordinary water to give it a unique flavor and taste. It comes in a variety of tastes, such as sweet, coffee, tea, and organic fruity flavors. It's loaded with minerals and nutrients. The negative effects of carbonated beverages on health have recently been an important topic among health-conscious individuals. Carbonation is a process in which carbon dioxide is broken down in water at low temperatures under high pressure, resulting in the development of various health problems in those who consume carbonated beverages on a regular basis.
Since the popularity of carbonated beverages has waned, the water enhancers industry provides an enticing new avenue for flavoring both tap and filtered water. For its simplicity, unique point of difference, lack of added sugar, and flexibility to customize water, water enhancers may appeal to Asian customers.
The Covid-19 pandemic affected the demand and supply of Asia-Pacific water enhancer market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Rising health awareness among people is expected to propel the market during the forecast period.
- Rapid urbanization in the sector is key factor fueling the market.
- Availability of alternatives and popularity of products are estimated to restrict the market growth.
- Lack of strong flavor and functional advantages act as major challenge that can hinder the market expansion during the forecast period.
- R&D investment is anticipated to create lucrative opportunities for the market players.
Scope of Water Enhancer Maret Report
The report on the Asia-Pacific water enhancer market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Asia-Pacific water enhancer Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Distribution Channel (Pharmacy and Health Store, Convenience Store, Hypermarket/Supermarket, Online Channel, Others)
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Geographical Scope
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China, Japan, Australia, India, and Rest of Asia Pacific
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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INFUZE, The Kraft Heinz Company, The Coca-Cola Company, Dyla LLC (Stur), and FLAVR Group.
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Water Enhancer Market Segment Insights
The online retail store segment is projected to hold a major market share
On the basis of distribution channel, the Asia-Pacific water enhancer market is divided into pharmacy and health store, convenience store, hypermarket/supermarket, online channel, and others. The online retail store segment is expected to represent a key share of the market during the forecast period owing to increasing usage of smartphones. Many customers are now purchasing items through an internet channel, due to the rising use of cellphones and the tight schedules of working-class people. In the Asia-Pacific online or e-commerce stores have been expanding their market share in terms of revenue, popularity, and a wide product range of both local and international brands of water enhancers among customers.
Furthermore, major factor driving the market is increasing sale of water enhancers through e-commerce retailing is the level of convenience it provides for consumers, as they can browse and shop for these products 24 hours a day, 7 days a week. It is easy to choose preferred water enhancer flavors and brands, as well as a wide variety of other products to suit needs and preferences and pack them according to own needs and preferences.
Another reason that is predicted to boost the demand for water enhancers among Asia's growing millennial population is that online retailers such as Amazon, Walmart, and UBuy give more brand visibility to customers.
Australia is expected to dominate the market
On the basis of regions, the Asia-Pacific water enhancer market is classified as China, Japan, Australia, India, and Rest of Asia Pacific. Australia is anticipated to dominate the market during the forecast period. Water enhancers have a strong hold on the soft drinks and non-alcoholic beverage market in Australia. Considering the quality of the goods in nations such as the United States and Canada, water enhancers are likely to be welcomed in Australia. However, a water enhancer from an Australian company, such as FLAVR, has zero calories, sugar, or carbs, as well as no additives or chemicals, giving the water enhancer even more traction in the country.
Segments
The Asia-Pacific water enhancer market has been segmented on the basis of
Distribution Channel
- Pharmacy and Health Store
- Convenience Store
- Hypermarket/Supermarket
- Online Channel
- Others
Geography
- China
- Japan
- Australia
- India
- Rest of Asia Pacific
Key Players
Competitive Landscape
Key players competing in the Asia-Pacific water enhancer market include INFUZE, The Kraft Heinz Company, The Coca-Cola Company, Dyla LLC (Stur), and FLAVR Group.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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