Global Functional Water Market, By Type (Vitamin, Protein, Others), Ingredients (Botanical Extracts, Micronutrients, Others), Distribution Channel (Supermarket/Hypermarket, Specialty Store, Online Stores, Others), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Functional Water Market
The functional water market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with the CAGR of 4.50% in the forecast period of 2021 to 2028 and is expected to reach USD 6.20 billion by 2028. The increasing usage in food and beverages industry globally is escalating the growth of functional water market.
Functional water refers to aquaceutical which are non-alcoholic beverages similar to water possessing additional ingredients that increase functional benefits. They are known to offer both refreshment and taste. Most commonly found additives are fruits or vegetables, minerals, herbs and vitamins among others with the purpose of improving immunity and boost energy. Various ingredients are added to the water before it becomes functional water including raw fruits, vegetables and consumable acids among others.
The increase in demand for functional water owning to its sustainability, the growth in awareness among consumers regarding plastics being non-biodegradable pollutants causing detrimental effect on the environment and technological advancements in packaging of products are the major factors driving the functional water market. The rise in the demand for function foods, high popularity of holistic mix of health and taste among millennials and the increasing demand for functional water due to the inclusion of essential ingredients such as amino acids, vitamins, minerals and protein accelerate the functional water market growth. The implementation of stringent regulations related to plastic use, consumer inclination towards the functional water because of package used by different leading companies and growing consumers demand for fortified food and beverages influence the functional water market. Additionally, initiatives taken by government, growing population of diabetes and obese patients, increasing investment in research and development activities and surge in the disposable income positively affect the functional water market. Furthermore, technological advancements, new product launch and innovations in packaging material products extend profitable opportunities to the functional water market players in the forecast period of 2021 to 2028.
On the other hand, rise in price of the PET bottles used in packaging functional water is expected to obstruct the functional water market growth. The negative impact of COVID-19 on various industries is projected to challenge the functional water market in the forecast period of 2021 to 2028.
This functional water market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on functional water market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Functional Water Market Scope and Market Size
The functional water market is segmented on the basis of type, ingredients and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the functional water market is segmented into vitamin, protein and others.
- On the basis of ingredients, the functional water market is segmented into botanical extracts, micronutrients and others.
- On the basis of distribution channel, the functional water market is segmented into supermarket/hypermarket, specialty store, online stores and others.
Global Functional Water Market Country Level Analysis
The functional water market is analyzed and market size, volume information is provided by country, type, ingredients and distribution channel as referenced above.
The countries covered in the global functional water market report are the U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the functional water market because of the change in consumption pattern, consumer shift towards healthy and weight management ingredients, increasing demand for drinks with health benefits owning to health consciousness, reformulation of the products using stevia and new vitamin and mineral combinations and introduction of diverse flavors in the region. Asia-Pacific is expected to witness the significant CAGR during the forecast period of 2021-2028 because of the growing health awareness among population and increase in the disposable income in the region.
The country section of the functional water market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Functional Water Market Share Analysis
The functional water market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to functional water market.
The major players covered in the functional water market report are Danone, The Coca-Cola Company, PepsiCo, Keurig Dr Pepper, Inc., Trimino Protein Infused Water, NYSW Beverage Brands, Inc., Disruptive Beverages Inc., Vichy Catalan Corporation, AGUA MINERAL SAN BENEDETTO, S.A.U., Unique Foods (Canada) Inc., Keurig Green Mountain, Inc., Nestlé, Allure Organics, Tata Consumer Products, Alkaline88, LLC, Nirvana Water, Balance Trading Company, Hint Inc., SUNNYD among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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