Market for flavored, functional waters rises 7.4%

BATH, UNITED KINGDOM — The global market for flavored and functional waters reached $17 billion in sales and 11 billion liters in volume after a 7.4% increase in volume in 2012, according to a report issued in October by Zenith International Ltd., a consulting company for food and drinks based in Bath. Zenith International forecasts the global market value to grow to $29 billion by 2017.

The flavored water segment grew by 7.1% in 2012. The functional water segment grew by 7.9%.

“With greater global awareness of the need for  healthier diets and consumer choices, companies are increasingly presenting flavored and functional waters as a welcome middle ground between soft drinks and water, offering products with less calories than some carbonated beverages and which may add extra interest to plain bottled water,” said Richard Hall, chairman of Zenith International.

The Asia Pacific market had a growth rate of 26% in flavored and functional waters in 2012 to surpass $5 billion in sales and account for 32% of total global sales. Within that market, China has had an average volume growth of 40% since 2012.

The North American market, which returned to volume growth for the first time since 2008, accounted for 25% of global sales in 2012. The European market, the only region to experience a drop in market value in 2012, also accounted for 25% of global sales.

Latin America, with a 12% growth rate in 2012, now accounts for 14% of global sales. The Middle East had 3% of global sales, and Africa had 1%.

“All regions are expected to return to growth in 2013,” Mr. Hall said.

 

Source:  http://www.foodbusinessnews.net

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