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Packaged Cactus Water Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global packaged cactus water products market was valued at USD 29.2 billion in 2022 and is expected to grow at a CAGR of 8.6% from 2023 to 2030. Cactus water, also known as prickly pear water, is a natural and nutritious beverage made from the juice of the fruit of the prickly pear cactus. The product is rich in antioxidants, vitamins, and minerals and is gaining traction in the health-conscious consumer base due to its potential health benefits, such as helping to reduce cholesterol and regulate blood sugar levels.
Moreover, cactus water is a great source of electrolytes and can help athletes rehydrate after a workout. Furthermore, the increasing demand for natural and organic beverages has been a major factor responsible for the growth of the market. For instance, in October 2021, L&A Beverages, a U.S. based beverage company, launched its new cactus water beverage line, which is made from 100% organic prickly pear cactus water without any added sugar or artificial colors.
The increasing number of health-conscious people is also driving the demand for cactus water products. Furthermore, a rise in the number of health clubs, gyms, and health spas is contributing to the growth of the market. In addition, the introduction of new flavors and product variants is expected to further boost the market over the forecast period. For instance, in March 2021, Vita Coco, a health and wellness brand, launched its new coconut and cactus water blend product, which is made from organic coconut water and organic prickly pear cactus water.
The increasing number of cactus water-based product launches by key players and the availability of organic variants are expected to drive the market growth. For instance, in April 2021, PepsiCo, Inc. launched a new line of cactus water beverages, under the brand name ‘Agua Fresca de Cactos’, in Mexico, which is made from 100% natural prickly pear cactus. The product is available in three flavors, namely, pineapple & cactus, mango & cactus, and lemon & cactus. Additionally, the growing trend of health-consciousness is expected to drive the growth of the market in the coming years.
Product Insights
The packaged cactus water segment dominated the market and held a share of around 43.3% in 2021. The consumption of packaged cactus water is increasing due to its health benefits and increasing awareness about the health benefits of cacti. According to an article published by Forbes in April 2021, cactus water is rich in antioxidants and can help reduce inflammation, improve digestion, and support weight loss. Furthermore, the growing trend of consuming functional beverages and increasing awareness about the benefits of cactus water are driving the market growth.
The flavored cactus water segment is expected to register the fastest CAGR of 8.2% over the forecast period. The growing popularity of flavored cactus water among millennials and rising consumption of ready-to-drink beverages are some of the key factors driving the segment growth. In addition, the growing demand for flavored cactus water due to its refreshing taste and health benefits is expected to further propel the segment growth. Moreover, increasing investments from beverage manufacturers in flavor innovations are expected to further drive the segment growth over the forecast period.
Distribution Channel Insights
The supermarkets and hypermarkets segment is expected to account for the largest share of the packaged cactus water products market in 2022. This can be attributed to the increasing number of supermarkets and hypermarkets, rising consumer preference for packaged cactus water products due to their convenience, and the availability of a wide range of cactus water products in these stores. In addition, the presence of various promotional activities, such as discounts and offers, in these stores is also driving the growth of the segment.
The online segment is expected to register the highest CAGR during the forecast period. The rising adoption of e-commerce platforms and the increasing penetration of smartphones and internet services have increased the growth of the segment. Moreover, the availability of huge discounts and offers on e-commerce websites is also driving the segment’s growth. For instance, in August 2020, Walmart launched a new online store called Cactus Water, which offers discounts and offers on packaged cactus water products.
Type Insights
The concentrates segment accounted for the largest revenue share of 70.9% in the year 2022. The high availability of packaged cactus water concentrates in the market is one of the key factors driving the growth of this segment. These concentrates offer convenience and portability as well as an easy way to consume cactus water for people who are always on-the-go or have limited access to fresh cactus water. In addition, the increasing popularity of cactus water-based beverages is also driving the growth of this segment.
The ready-to-drink segment is expected to expand at the highest CAGR of 15.3% in the forecast period. The increasing demand for convenience and portability, coupled with the health benefits associated with cactus water, are driving the demand for ready-to-drink products. In addition, the growing popularity of cactus water-based beverages, such as cactus water smoothies and cactus water-based cocktails, is leading to an increase in the demand for ready-to-drink cactus water products. Furthermore, the increasing demand for low-calorie and low-sugar beverages is boosting the growth of this segment.
Regional Insights
North America is expected to dominate the market and account for the largest revenue share of over 37.1% in 2022. The growing preference for natural and healthy beverages is likely to drive the growth of the market in this region. Moreover, an increase in disposable income, coupled with the growing trend of health consciousness among consumers, is further expected to propel the demand for these products. For instance, in May 2021, Cactus Water launched a new range of flavored cactus water in the U.S.
Europe is expected to witness the second-fastest growth in the coming years. An increase in the consumption of healthy beverages is expected to drive the growth of the market in this region. Growing awareness regarding the benefits associated with cactus water consumption is expected to drive the demand for these products. For instance, in July 2021, Cactus Water launched its range of cactus water in the U.K. and other European countries.
Financial Projections
In this part of the packaged cactus water products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your packaged cactus water products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main sources of revenues for a packaged cactus water products business come from the sale of cactus water products, retail sales, online sales, and wholesale distribution. Additionally, revenue can be generated through the sale of related products such as cactus-based snacks, apparel, and accessories.
Projecting Expenses
In this section, all the regular expenses related to keeping the packaged cactus water products business running will be described. The list of operating expenses includes marketing and advertising, payments to suppliers, wages and salaries, utilities, packaging and shipping, insurance policies, and others.
Key companies & market share insights
Some of the key companies operating in the packaged cactus water market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In October 2022, Cacti Water launched their new line of flavored cactus water in three flavors: strawberry, mango, and passion fruit.
– In November 2022, Caliwater launched their new line of organic and non-GMO cactus water with natural flavorings.
– In December 2022, Cacti Juice launched their new line of cactus water with added vitamins and minerals to provide additional health benefits.
Some of the prominent players in the packaged cactus water market include:
– Cacti Water
– Caliwater
– Cacti Juice
– Cacti Water Co.
– Caliwater, LLC
– Health-Ade LLC
– Big Geyser Inc.
– The Cactus Water Company
– Vita Coco
– LaCroix Sparkling Water
Global Packaged Cactus Water Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global packaged cactus water products market based on product type, distribution channel, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Ready-to-Drink
– Powdered
– Concentrates
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Product Innovation?
[A]: Product innovation is an important factor driving the global packaged cactus water products market. Consumers are looking for more convenient and healthy options, and manufacturers are responding by introducing more innovative and natural ingredients, flavors, and packaging. For example, some manufacturers are introducing ready-to-drink cactus water in different flavors, such as lime, cucumber, and mango, to attract customers. Additionally, manufacturers are also focusing on introducing eco-friendly and biodegradable packaging to appeal to customers concerned about the environment.
[Q]: Who are the Key Players in the Packaged Cactus Water Products Market?
[A]: Some of the key players in the global packaged cactus water products market are Cactus Water LLC., Cactus Juice Beverages, Coco Libre, Cactus Oasis, and AgroCactus.
[Q]: Which Region Offers the Largest Opportunity for Sales of Packaged Cactus Water Products?
[A]: As of 2020, North America was the largest region in terms of market value, and is expected to remain so throughout the forecast period, owing to the presence of a large consumer base and increasing awareness about the health benefits of cactus water.
[Q]: What are the factors driving the packaged cactus water products market?
[A]: The main factors driving the global packaged cactus water products market include the increasing demand for healthy beverages and the growing trend of “clean-label” products. Additionally, the increasing popularity of cactus water among health-conscious consumers, the growing number of health-focused product launches, and the availability of a wide variety of flavors are also contributing to the growth of this market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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