Global Functional Water Market Overview
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. The global functional water market accounted for US$ 11.7 billion in 2019 and is estimated to be US$ 23.9 billion by 2029 and is anticipated to register a CAGR of 7.50%.
Impact of COVID19 Pandemic on Market
At the starting of 2020, COVID-19 disease began to spread around the world; many more peoples are infected with COVID-19 disease, and major countries around the world send the orders to companies for employee prohibition and work stoppage. Every organization is prepared for the loss by this pandemic. Hence the functional water also affected by the COVID-19 lockdown scenario, as it ultimately links to distribution, manufacturers, market size, marketing channels, and market factors. This report will quantify the impact of this pandemic on the functional water market.
Global Functional Water Market Dynamics
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.
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.
Global Functional Water Market Segmentation
The global functional water market is segmented based on the ingredients, distribution channel and region. Base on the ingredients, the global market is segmented into micronutrients, botanical extracts, and other functional ingredients. The rising demand for micronutrients in functional water is expected to increase the functional water market share through the coming years. The enhanced water are generally micronutrients-fortified, hence a dominating segment in this market.
Depending upon distribution channel, the target market is segmented into Supermarkets/Hypermarkets, Convenience Stores, Online Retail, and Others. Mass merchandisers viz. supermarkets and hypermarkets hold large in the distribution channel for this market. The bundling strategy and economic pricing is responsible for highest sales of functional water among mass merchandisers.
Regional Insights:
According to the region, market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The escalating demand for bottled water in the U.S. is contributing massively to growth in functional water market in the North American region. The sales of bottled water have recently surpassed those of soft drinks in the United States and the bottled water sector is thus a leading horse prompting companies to invest and expand their functional offerings. The functional water market in Asia Pacific is also set to experience significant growth rate as consumers are becoming increasingly aware of the benefits of functional, bottled water. Consumers look for alternatives to carbonated soft drinks (CSDs) and the innovation in flavor is driving the bottled water category’s success.
Detail Segmentation:
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Attribute |
Details |
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The base year for estimation |
2019 |
|
Forecast Period |
2019 - 2029 |
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Market Representation |
Revenue in USD Million & CAGR from 2019-2029 |
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Market Segmentation |
By Ingredients - Micronutrients, Botanical Extracts, Other Functional Ingredients By Distribution Channel - Supermarkets/Hypermarkets, Convenience Stores, Online Retail, and Others By Region - North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
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Regional Scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report Coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments covered in the report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global functional water market report based on ingredients, distribution channel and region.
Global Functional Water Market, By Ingredients
- Micronutrients
- Botanical Extracts
- Other Functional Ingredients
Global Functional Water Market, By Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retail
- Others
Global Functional Water Market, By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
Global Functional Water Market Key Players
The major key players in the market include Coca-Cola, Pepsico, Dr. Pepper Snapple Vitamin Well AB, Triamino Brands LLC, New York Spring, Herbal Water, Vichy Catalan Corporation, San Benedetto, and Unique Foods.
Global Functional Water Market Company Profile
- Coca-Cola
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Pepsico
- Dr. Pepper Snapple Vitamin Well AB
- Triamino Brands LLC
- New York Spring
- Herbal Water
- Vichy Catalan Corporation
- San Benedetto
- Unique Foods
Global Functional Water Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for Functional Water Strategies
- Key Questions this Study will Answer
- Market Snippet, By Ingredients
- Market Snippet, By Distribution Channel
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Functional Water Market, By Ingredients, 2019 – 2029, (US$ Mn)
- Micronutrients
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Botanical Extracts
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Other Functional Ingredients
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Micronutrients
- Global Functional Water Market, By Distribution Channel, 2019 – 2029, (US$ Mn)
- Supermarkets/Hypermarkets
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Convenience Stores
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Online Retail
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Supermarkets/Hypermarkets
- Global Functional Water Market, By Region, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Ingredients, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Distribution Channel, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Ingredients, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Distribution Channel, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Ingredients, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Distribution Channel, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Ingredients, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Distribution Channel, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Ingredients, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Distribution Channel, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
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- Coca-Cola
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Pepsico
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Dr. Pepper Snapple Vitamin Well AB
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Triamino Brands LLC
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- New York Spring
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Herbal Water
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Vichy Catalan Corporation
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- San Benedetto
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Unique Foods
- Company Overview
- Type Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Coca-Cola
-
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The global functional water market is segmented based on the ingredients, distribution channel and region.
Sustainability is one of the most vital properties of functional water anticipated to drive the industry’s growth.
The escalating demand for bottled water in the U.S. is contributing massively to growth in functional water market in the North American region.
The major key players in the market include Coca-Cola, Pepsico, Dr. Pepper Snapple Vitamin Well AB, Triamino Brands LLC, New York Spring, Herbal Water, Vichy Catalan Corporation, San Benedetto, and Unique Foods.