February 15, 2021
According to the business intelligence report titled ‘Global Flavoured and Functional Water Dispenser Market Analysis, 2020’ available with Market Study Report LLC, global flavoured and functional water dispenser market is estimated to exhibit a compound annual growth rate of 10% during the analysis timeframe of 2020 to 2025.
The report states that growing prevalence of diabetes and obesity, rapid industrialization and urbanization, escalating pollution levels, and increasing purchasing power of consumers are positively swaying the global flavoured and functional water dispenser market dynamics.
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For the uninitiated, flavoured and functional water dispensers are a type of water cooler which enhance the quality of water by adding sweeteners, spring water, mineral water, and artificial as well as natural flavors.
Industry analysts cite that growing environmental concerns among the consumers, ongoing technological advancements in the industry vertical, and improving economic conditions across the globe are stimulating the global flavoured and functional water dispenser market outlook.
With regards to product scope, the industry is divided into functional, flavored, and combination of both. Speaking of sales channel, the business sphere is bifurcated into online retail, convenience store, specialty store, hypermarkets/supermarkets, and others.
From a regional frame of reference, North America flavoured and functional water dispenser market is projected to grow significantly through 2025, owing to introduction of diverse and innovative products such as amino acid-enriched water and Cannabidiol (CBD) infused spring water.
Alternatively, Europe is expected to emerge as a lucrative growth avenue for the industry expansion over the forecast period. Shifting consumer preferences towards sustainability over price and taste, growing awareness regarding the health benefits of staying hydrated, and rising concerns regarding high intake of sugar and calories in soft drinks and beverages are propelling the growth of the regional market.