Enormous changes have been penetrating the worldwide beverage market for certain years now. While in the past it was overwhelmed via carbonated and sweetened beverages, it is presently quickly progressing to more beneficial and more functional beverages. Customers are not, at this point simply hoping to satisfy their thirst, they want benefits other than pure hydration. Hence, the development in the beverage market is ruled by functional waters. The push towards healthier and environment-friendly life, the worldwide functional water market is anticipated to develop at double digit CAGR.
Functional Water Market Driving Factors
- Consumers nowadays are inclining rapidly towards better-for-you or healthy alternatives from high-sugar and unnatural drinks.The demand for functional water is higher than soft drinks as the former does not contain added sugar or any other synthetic additives, such as preservatives, flavors, and colors.
- Increasinng consumers’ demand for fortified food and beverages is estimated to foster the rise in demand for functional water in a few years.
- Functional water came out to be the best alternative to the aerated drinks containing acids; this is the major reason for growing demand of these healthy drinks. The functional water increases immunity and boosts stamina after consuming; hence this makes it widely applicable the worldwide population.
- Growing interest, growing healthcare expenditure, and awareness of how appropriate diet can advance immune power are some important factors driving the functional water market globally, rise in per capita income, changing lifestyle, have impacted functional water market
Functional Water Market Segmental Highlights
- Functional water are made up of various ingredients such as botanical extracts, micronutrients, and other functional ingredients
- The major distribution channel of functional water are supermarket/hypermarket, speciality store, online store.
- Geographically, functional water market is diversified into Asia-Pacific, Europe, North America and Rest of the World.
- North America is major shareholder due to increasing awareness ofhealthy eating habits. U.S. has significant share that can be attributed to rising obesity in children and young generation in the region.
- Asia-Pacific is anticipated to be the fastest-growing market for the forecast period attributed to attributed to rise in disposable income, rising urban population and changing eating habits
Functional Water Market Key Developments
- January 2020: Voss introduced voss plus, functional water enhanced with aquamin. VOSS Plus is a one-of-a-kind functional water enhanced with Aquamin, a unique, marine-sourced multi-mineral complex, including Calcium, Magnesium & Potassium
- July 2020: US-based wellness brand Zhou Nutrition has debuted a new line of functional Water Enhancers. Available in six natural flavours, the Enhancers are designed to support a variety of wellness needs, from hair and skin health to memory and stress management.
Functional Water Market Key Players
Key competitors of this market includes The Coca-Cola Co, PepsiCo, Balance Water Company, Danone Group, Dr. Pepper Snapple Group Inc., Function Drinks, Trimino Brands Company LLC, Herbal Water, Nestle, Hind, Sunny Delight Beverages, Kraft Foods, Allure Organics and Tata Global Beverages among others.
The report analyses the global Functional Water market based on product type, distribution channel, and geography. Functional water are made up of various ingredients such as botanical extracts, micronutrients, and other functional ingredients. The major distribution channel of functional water are supermarket/hypermarket, speciality store, online store. The Functional Water market is studied for the key regions including North America, Europe, Asia Pacific and Rest of the World.
Key competitors of this market includes The Coca-Cola Co, PepsiCo, Balance Water Company, Danone Group, Dr. Pepper Snapple Group Inc., Function Drinks, Trimino Brands Company LLC, Herbal Water, Nestle, Hind, Sunny Delight Beverages, Kraft Foods, Allure Organics and Tata Global Beverages among others.
Why to buy this report:
- The report offers changing market dynamics in the Functional Water market, presenting historical, current and projected market size in terms of value (USD Million)
- The research study provides an in-depth analysis of the industry value chain focusing on the peer and parent markets of Functional Water market
- It presents a comprehensive assessment of geographical regions exhibiting promising growth, potential and niche segments, and a neutral perspective on the Functional Water market performance
- The report also offers strategic recommendations in key business segments based on the market estimations and competitive landscape, mapping the key common trends of Functional Water market
