A new report by Transparency Market Research expects the Brazil flavored functional water market to grow at considerable pace over the course of the given forecast period of 2016 to 2024. According to the report, the market will exhibit an impressive CAGR of 7.3% during the projection period. With this rate of growth, by the end of 2024, the market will be valued around US$9.4 bn. It is a considerable growth from the initial valuation recorded at US$5 bn in 2015.
In terms of individual segmentation, the leading segment is expected to be of vitamins and minerals. This segment is expected to showcase a healthy CAGR of 7.1% in terms of volume during the aforementioned forecast period. On the other hand, in terms of geographical segmentation, the region of Southeast Brazil has been singled out to be the largest contributor in the flavored functional market in the country. The region accounted for around 38.2% of the overall market share in 2015.
Aggressive Marketing Strategies to Help Leading Players Dominate Brazil Market
The vendor landscape in the Brazil flavored functional market exhibits a presence of several domestic as well as international players. Some of the key players operating in the flavored functional water market in Brazil include names such as PepsiCo Inc., Nestle Waters, and Groupe Danone. The research report expects the competition in the market to intensify in the coming years of the projection period. With an objective to stay ahead of the competitive curve, the leading players in the market are expected to adopt aggressive strategies such as mergers, acquisitions, and joint ventures. In addition to this, launch of new and innovative products coupled with aggressive promotional campaigns and attractive packaging are also some of the other key strategies adopted by the leading players in the flavored functional water market in Brazil.
Low Preference to Aerated Drinks is Working in Favor of Market Growth
In recent years, the growth of the Brazil flavored functional market has been meteoric. One of the key driving factors for the market growth has been the increasing preference of the customers towards healthier and low-calorie beverages. In addition to this, waning interest in the high-calorie sugar sweetened aerated drinks has also helped in the growth of the market in the country. Furthermore, there has been a growing awareness about the ill effects of consuming high-calorie aerated drinks among people. It has also worked in favor of the market development.
There are however, some factors that may have a negative impact on the development of the flavored functional water market in Brazil. One of the major restraining factor for the market growth has been stringent packaging regulations. Moreover, the tedious process of recycling and disposing the packages and containers individually has been slowing down the market growth.
Nonetheless, the growing demand for healthy, convenient, and energizing drinks coupled with strengthening economic condition of the populace is helping to uplift the growth of the Brazil flavored functional water market.
The information presented in this review is based on a TMR report, titled “Flavored and Functional Water Market (Nature - Carbonated and Non-carbonated Drinks; Ingredient - Vitamins and Minerals, Botanical Ingredients, Amino Acids, and Proteins and Calcium; Distribution Channel - Retail Stores, Hypermarkets/Supermarkets, E-commerce, and Department/Specialty Outlets) - Brazil Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The Brazil flavored and functional water market has been segmented as presented below:
- Non-carbonated Drinks
- Carbonated Drinks
- Vitamins and Minerals
- Botanical Ingredients
- Amino Acids
- Proteins and Calcium
- Retail Stores
- Departmental/Specialty Outlets
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