Functional Water Market – Global Market Forecast and Growth Opportunities (2023-2029)

Functional Water Market is expected to reach US$ 8.46 Bn. by 2029, at a CAGR of 7.40% during the forecast period.
Functional Water Market Overview:
Functional water is made with O2 & different elements. Functional water can be flavoured & unflavoured. There are dissimilar categories of functional water like vitamin, protein mineral, botanical & O2 water.

Functional water is achieving growth in the market owing to health welfares & nutritional assets. The customers have started to drink beverages with extra vitamins & proteins which can retain the body hydrated for a long time period. Sportspersons & marathoners require beverages that can retain their body hydrated for the long run by drinking minor amounts of hydrated beverages. This influence has improved the demand for this type water-induced with many flavours, nutrients. Thus, value-added hydration develops consumer inclinations towards the growth of the functional water market over the forecast period.To know about the Research Methodology :- Request Free Sample Report

The functional water filled in cans, & bottles is high in cost as compared to boxes & pouches. These high-cost items cannot be afforded by ordinary-income people. The countries like Bangladesh, India, & others have seen a drop in the revenues of functional water. The motive is that more than 40 percent of individuals are low & middle-income individuals. The functional water acts as a top item in these nations & is credited as a high-cost item. As an outcome, the high rate of functional water acts as a limitation for the development of the market over the forecast period.

The worries about the packing of functional water are rising. As a result, there is a better prominence on the growth of recyclable & eco-friendly bottles & cans packing materials. This is anticipated to open up profitable opportunities for numerous market companies in the functional water market, creating it a lucrative business in the long term for key companies in this market. For example, the Coco-Cola Corporation has introduced pet bottles that can be reused & recycled in an easy way without damaging the environment. Hence, the environment-friendly packaging of water is making new opportunities for the development of a functional water market.
Functional Water Market Segment Analysis:
According to the MMR report study analysis, the total functional water market is categorized based on product type, & distribution channel, region. In the year 2022, the flavored functional water sector accounted for the major share in the total market, due to the increasing trend of functional water added with many flavors which are common among all age groups persons. On the basis of product type, the functional water market is segmented by vitamins, proteins, & others. In the year 2022, the vitamin sector accounted for the major share in the over-all market, due to the nutritious properties & low sugar content of vitamin functional water. Based on the distribution channel, the specialty stores sector accounted for the major share in the year 2022 as specialty stores deliver high facility & detail product requirement and expert management to the customers.

Importance of Functional Water Market:

The consumption outline in the North American area is unstable toward healthy & weight management elements filled with food & beverage items. As functional water donates to the same, the North America region stands at a noticeable position. Customers in the US have started to improve interest in drinks that bring benefits above & beyond modest refreshments, which are also donating to the growth of the functional water market. Also, owing to increasing health worries in the Canadian provinces, many local & global companies are getting involved in the opportunistic market, & customers are receiving a plenty range of goods to choose from, which is pouring the development of North America region.

Customer Inclinations:

The fast demand for encouraging beverages is credited to the presence of essential ingredients, like protein, amino acids, vitamins, & minerals, in numerous functional drinks. The outline of new & advanced types of functional water from the drink business corporations involved in the manufacturing of water from the adapted blends of protein & minerals is expected to determine the growth of the market.

The increase in overweight & diabetic populaces in the US, China, India, Australia, & the UK, among others, has moved the emphasis from carbonated soft beverages to bottled water in the last two to three years. Research by MMR revealed that 47 percent of the entire customers prefer food with additional nutrients. So, this factor is anticipated to rise the development of the market.

As the customer emphasis was placed toward correct nutritional consumption initially through the pandemic, they are likely to control toward healthier drink choices & depict their inclination for vitamin & mineral-filled functional waters. Therefore, the coronavirus pandemic presented wider occasions for the functional water market over the forecast period. Also, online retail channels may reach a higher development rate than conservative channels of distribution, like supermarkets & specialty stores, in terms of revenues of functional water over the forecast period.

Functional water is accepted as aquaceutical, a non-alcoholic drink like water having extra elements which rise functional benefits. It delivers both refreshment & taste. Some collective additives are vitamins, fruits, or vegetables, which assistance recover immunity & boosting energy. The move-in preference from carbonated & high sugar drinks may push the demand for the functional water market. The convenience of intake & its effect on human nourishment is the influences which rise the demand of the market studied. The rising support from the employed class & millennial populaces for functional water is anticipated to improve the growth of the market.

The objective of the report is to present a comprehensive analysis of the global market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global market dynamics, structure by analyzing the market segments and project the global market size. Clear representation of competitive analysis of key players by Ingredient, price, financial position, Ingredient portfolio, growth strategies, and regional presence in the global market makes the report investor's guide.
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Global Functional Water Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 5.13 Bn.


Forecast Period 2023 to 2029 CAGR:
7.40%
Market Size in 2029:
US $ 8.46 Bn.


 Segments Covered:
by Type
Vitamin
Protein
Others


by Distribution Channel
Hypermarkets/Supermarkets
Specialty Stores
Online Stores
Others


by Product
Flavored functional water
Unflavored functional water


by Packaging
Pet bottles
Can
Others



Functional Water Market, by Region:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Functional Water Market, Key Players:
1. The Coca-Cola Co.
2. PepsiCo, Inc.
3. Balance Water Company
4. Danone SA
5. Dr. Pepper Snapple Group Inc.
6. Function Drinks
7. Trimino Brands Company LLC
8. Herbal Water
9. San Benedetto
10. Unique Foods(Canada)
11. Bridgepoint Group plc
12. Disruptive Beverages Inc.
13. Nestle SA
14. NYSW Beverage Brands Inc.

Frequently Asked Questions:

1. Which region has the largest share in Global Functional Water Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global Functional WaterMarket?
Ans: The Global Functional Water Market is expected to grow at a CAGR of 7.40% during forecast period 2023-2029.

3. What is scope of the Global Functional Water market report?
Ans: Global Functional Water Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Functional Water market?
Ans: The important key players in the Global Functional Water Market are – The Coca-Cola Co., PepsiCo, Inc., Balance Water Company, Danone SA, Dr. Pepper Snapple Group Inc., Function Drinks, Trimino Brands Company LLC, Herbal Water

5. What is the study period of this market?
Ans: The Global Functional Water Market is studied from 2022 to 2029.