LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global packaged cactus water market to grow at a CAGR of close to 26% during 2018-2022. The rising demand for organic cactus water is a key trend, which is expected to impact the growth of the market.
Organic food and beverages are becoming increasingly popular due to their health benefits. On an average, consumers in North America and Europe are willing to pay 15%-20% extra for organic products. Thus, the growing demand for organic cactus water will benefit the global packaged cactus water market over the forecast period.
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In this report, Technavio researchers identify the increasing inclination towards naturally healthy beverages as one of the key factors contributing to the global packaged cactus water market:
Increasing inclination towards naturally healthy beverages
The modern day, fast-paced lifestyles are compelling consumers to take up natural and healthy alternatives to processed foods and beverages. Consumers are shifting from carbonated and sugar-loaded other beverages to natural and healthy beverages. Currently, the plant-based water products are among the fastest-growing segments of the health and wellness beverages market.
According to a senior analyst at Technavio for non-alcoholic beverages research, “The adoption of cactus water is quite high when compared to other plant-based water products. This is because consumers in Western countries are taking up functional drinks that are healthy and have a low-calorie count.”
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Global packaged cactus water market - segmentation and analysis
This market research report segments the global packaged cactus water market by product (packaged plain cactus water and packaged mixed cactus water) and key regions (Americas, APAC, and EMEA).
The packaged mixed cactus water segment accounted for close to 62% of the market in 2017. This segment is expected to witness a 9% increase in its market share over the forecast period, while the packaged plain water segment will see a corresponding decrease in its market share.
In 2017, the Americas dominated the global packaged cactus water market with a revenue share of more than 67%, followed by EMEA and APAC. EMEA is expected to witness the maximum growth over the forecast period.
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