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Traditional enhanced waters continue to show growth. Mintel notes that sales of packaged water are projected to reach $24.4 billion by 2023, driven by increases from all water segments, especially the fast-growing sparkling segment.
Add in the buzz surrounding the cannabis market, and the stage is set for a new beverage dynamic. The emergence of waters infused with cannabidiol (CBD) and tetrahydrocannabinol (THC) comes at a fortuitous time, as sales of carbonated soft drinks and alcoholic beverages sink and the bottled, sparkling and functional water categories continue to grow.