Functional
water is a non-alcoholic beverage whose property has been altered by adding
ingredients that offer impressive health benefits and other features.
Ingredients such as raw fruits, vegetables, herbs,
consumable acids, vitamins, and minerals are added to water before it becomes
functional water.
As water remains the most consumed beverage globally, the
functional water market is expected to witness tremendous growth during the
forecast period and aftermath.
Consumers’ shift towards the consumption of healthy drinks
is has a positive impact on the growth of the global functional water market.
The global functional water market is anticipated to record
a double-digit CAGR as health practitioners now recommend it as one of the
vital beverages that must be consumed daily.
Classification of water as a balanced diet is a strong force
fueling the growth of the industry.
With the burgeoning demand for plant-based products, the
global functional water market is expected to grow significantly
Functional water contains vegetables, raw fruits, and herbs,
which are plant-based, and this improves its sales as vegans spend more on
dairy alternatives or non-dairy products.
The functional water market is slated to record a healthy
growth during the forecast period due to the change in consumers’ lifestyles
especially in developed and developing nations which has fostered the demand
for convenience food items globally.
Functional Water Market Growth Drivers
Sustainability is one of the most vital properties of
functional water anticipated to drive the industry’s growth.
Functional water consumers are conscious of their
environment’s safety as reports have shown that plastics are non-biodegradable
pollutants whose presence has a detrimental effect on the environment.
With governments’ stringent regulations regarding plastics,
manufacturers in the industry are prompted to develop new and innovative
materials to package their products.
Consumers are sometimes attracted to the functional water
market by the type of package used by different leading companies.
Furthermore, growing consumers’ demand for fortified food
and beverages is estimated to foster the rise in demand for functional water in
a few years.
Sales are expected to increase drastically as the population
of diabetes and obesity patients is rising annually, threatening the global
world.
Countries like the United States, United Kingdom, China,
India, and Australia have increased the production of functional water as
consumers have switched preference from consuming carbonated soft drinks to
packaged water
Functional Water Market Restraint
The global functional water market growth is expected to be
hampered during the forecast period due to the hike in price of the PET bottles
used in packaging functional water.
Functional Water Market: Region-wise Analysis
Geographically, Europe is expected to dominate the global
functional water market as the total revenue, and market volume from this
region are higher when compared with others.
Consumers in the region are on the rise, which is estimated
to facilitate the industry's growth.
North America is the second-largest market as the demand
from the pharmaceutical and beverage industries is on the rise.
The Asia Pacific is estimated to be the fastest-growing
market as consumers' population is on the rise.
Emerging economies like China, India, and Japan have
increased consumers' disposable income, which is slated to fuel the growth of
the functional water market during the forecast period.
Functional Water Market: Competitive Landscape
The global functional water market is highly competitive
with no dominant player operating in it. Key players are focusing on innovation
of new products to woo consumers to their market.Some prominent players in the
industry include;
- Danone
- Coca-Cola
- Pepsico
- Dr.
Pepper Snapple Vitamin Well AB
- Triamino
Brands LLC
- New
York Spring
- Herbal
Water
- Vichy
Catalan Corporation
- San
Benedetto
- Unique
Foods (Canada)
Region-wise Analysis
- North
America (U.S., Canada)
- Latin
America (Mexico, Brazil)
- Europe
(Germany, U.K., France, Italy, Spain, Poland, Russia)
- East
Asia (China, Japan, South Korea)
- South
Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania
(Australia, New Zealand)
- Middle
East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
Report Highlights
The research report presents a comprehensive assessment of
market and contains thoughtful insights, facts, historical data, and
statistically supported and industry validated market data and projections with
suitable set of assumptions and methodology. Research report provides analysis
and information by categories such as market segments, geographies, types,
technology and applications.
The report is a compilation of first-hand information,
qualitative and quantitative assessment by industry analysts, inputs from
industry experts, and industry participants across the value chain. The report
provides an in-depth analysis of parent market trends, macro-economic
indicators, and governing factors along with market attractiveness as per
segments. The report also maps the qualitative impact of various market factors
on market segments and geographies.
Global Functional
Water Market Segment Analysis
The global functional water market can be segmented on the
following basis:
By Type
- Vitamin
- Protein
- Others
By Distribution Channel
- Specialty
Stores
- Supermarket/Hypermarket
- Online
Store
- Others
Main Report Link: https://www.futuremarketinsights.com/reports/functional-water-market
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