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Global Functional Water Market: By Product Type: Flavoured Functional Water, Unflavoured Functional Water; By Ingredient: Vitamins, Proteins, Others; By Packaging; By Distribution Channels; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Functional Water Market Outlook

The global functional water market reached a value of about USD 5.64 billion in 2021. The market is further estimated to grow at a CAGR of 7.40% in the forecast period of 2023-2028 to reach a value of around USD 8.69 billion by 2027.

 

Rising Demand for Flavoured Functional Water to Propel the Market Growth of Functional Water

The growing inclination towards flavoured functional water owing to its characteristics, such as its refreshing flavour, improved nutritional profile, and superior taste, is driving the growth of the segment. This type is available in diverse flavours like lemon, berry, and lime, among others. The innovations in flavour and packaging are positively influencing the growth of the market. Additionally, flavoured functional water helps boost mental stamina by reducing stress and offering relaxation. The rising preference of health-conscious consumers towards flavoured functional water can also be attributed to the initiatives taken by market players to offer flavoured water with fewer calories. Further, the increasing investments in product marketing by key players to promote their offerings are likely to aid the market growth over the forecast period.

The market in the Asia Pacific is expected to witness a significant growth over the forecast period, primarily driven by factors like the improving living standards, rising health consciousness, increasing popularity among millennials, and new product launches by the leading manufacturers.

 

Market Segmentation

Functional water is a water-based beverage that is supplemented with additional nutrients such as vitamins, minerals, proteins, and others. It is altered at the molecular level through electrical, mechanical, or optical processes to offer health and other functional benefits.

The market for functional water, by product type, is bifurcated into:

  • Flavoured Functional Water
  • Unflavoured Functional Water

Based on ingredient, the market is segmented into:

  • Vitamins
  • Proteins
  • Others

On the basis of packaging, the market is divided into:

  • Pet Bottles
  • Cans
  • Others

Based on distribution channel, the market is categorised into:

  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Speciality Stores
  • Online
  • Others

The regional markets for functional water can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Increasing Consumption by Health-Conscious Population to Drive the Market Growth of Functional Water

The growing consumption of functional water by the health-conscious population for benefits like boosting the immune system, enhancing mental health, and improving hydration and nutrition is fuelling the market growth. This can be attributed to the increasing incidences of chronic diseases and lifestyle disorders such as diabetes, which is leading to the growing importance of functional water to meet daily nutritional requirements. Further, its growing adoption among millennials and the working-class segment, owing to the growing awareness about the health hazards of carbonated or sweetened drinks and contaminated tap water, is accelerating the market growth of functional water. Additionally, the rising inclination of eco-conscious consumers towards products with sustainable packaging is expected to prompt manufacturers to adopt sustainable design solutions. The expanding convenience stores, supermarkets/hypermarkets, and the emergence of e-commerce platforms have further resulted in the easy availability of the product globally.

Over the forecast period, the growing focus on meeting the rising consumer demand for unique flavours and improved taste profiles and the innovations in ingredients are anticipated to stimulate the market growth. Also, the initiatives taken by the market players to develop diversified products such as CBD-infused spring water and amino acid–enriched water are expected to further augment the market growth in the coming years.

 

Key Players in the Global Functional Water Market

The report gives a detailed analysis of the following key players in the global functional water market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • PepsiCo Inc
  • Nestle S.A.
  • Danone S.A.
  • Hint Inc.
  • Tata Consumer Products Limited
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • Ingredient
  • Packaging
  • Distribution Channels
  • Region
Breakup by Product Type
  • Flavoured Functional Water
  • Unflavoured Functional Water
Breakup by Ingredient
  • Vitamins
  • Proteins
  • Others
Breakup by Packaging
  • Pet Bottles
  • Cans
Breakup by Distribution Channels
  • Supermarkets and Hypermarkets
  • Convenience Stores
  • Speciality Stores
  • Online
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Price Analysis
  • Historical Price Trends
  • Forecast Price Trends
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • PepsiCo Inc
  • Nestle S.A.
  • Danone S.A.
  • Hint Inc.
  • Tata Consumer Products Limited
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface 
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions   
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments  
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Region
7    Opportunities and Challenges in the Market
8    Global Functional Water Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Functional Water Historical Market (2018-2022) 
    8.3    Global Functional Water Market Forecast (2023-2028)
    8.4    Global Functional Water Market by Product Type
        8.4.1    Flavoured Functional Water
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Unflavoured Functional Water
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
    8.5    Global Functional Water Market by Ingredient
        8.5.1    Vitamins
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Proteins
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Others
    8.6    Global Functional Water Market by Packaging
        8.6.1    Pet Bottles
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Cans
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Others
    8.7    Global Functional Water Market by Distribution Channels
        8.7.1    Supermarkets and Hypermarkets
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Convenience Stores
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Speciality Stores
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022)
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Online
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022)
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Others
    8.8    Global Functional Water Market by Region       
        8.8.1    North America
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2022) 
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Europe
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022) 
            8.8.2.3    Forecast Trend (2023-2028)
        8.8.3    Asia Pacific
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2022) 
            8.8.3.3    Forecast Trend (2023-2028)
        8.8.4    Latin America
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2018-2022) 
            8.8.4.3    Forecast Trend (2023-2028)
        8.8.5    Middle East and Africa
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2018-2022) 
            8.8.5.3    Forecast Trend (2023-2028)
9    North America Functional Water Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Functional Water Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Functional Water Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Functional Water Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Functional Water Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Trade Data Analysis

    16.1    Major Importing Countries
        16.1.1    By Volume
        16.1.2    By Value
    16.2    Major Exporting Countries
        16.2.1    By Volume
        16.2.2      By Value
17    Price Analysis
18    Competitive Landscape

    18.1    Market Structure
    18.2    Company Profiles
        18.2.1    PepsiCo Inc
            18.2.1.1    Company Overview
            18.2.1.2    Product Portfolio
            18.2.1.3    Demographic Reach and Achievements
            18.2.1.4    Certifications
        18.2.2    Nestle S.A.
            18.2.2.1    Company Overview
            18.2.2.2    Product Portfolio
            18.2.2.3    Demographic Reach and Achievements
            18.2.2.4    Certifications
        18.2.3    Danone S.A.
            18.2.3.1    Company Overview
            18.2.3.2    Product Portfolio
            18.2.3.3    Demographic Reach and Achievements
            18.2.3.4    Certifications
        18.2.4    Hint Inc.
            18.2.4.1    Company Overview
            18.2.4.2    Product Portfolio
            18.2.4.3    Demographic Reach and Achievements
            18.2.4.4    Certifications
        18.2.5    Tata Consumer Products Limited
            18.2.5.1    Company Overview
            18.2.5.2    Product Portfolio
            18.2.5.3    Demographic Reach and Achievements
            18.2.5.4    Certifications
        18.2.6    Others
19    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Functional Water Market: Key Industry Highlights, 2018 and 2028
2.    Global Functional Water Historical Market: Breakup by Product Type (USD Billion), 2018-2022
3.    Global Functional Water Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
4.    Global Functional Water Historical Market: Breakup by Ingredient (USD Billion), 2018-2022
5.    Global Functional Water Market Forecast: Breakup by Ingredient (USD Billion), 2023-2028
6.    Global Functional Water Historical Market: Breakup by Packaging (USD Billion), 2018-2022
7.    Global Functional Water Market Forecast: Breakup by Packaging (USD Billion), 2023-2028
8.    Global Functional Water Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2022
9.    Global Functional Water Market Forecast: Breakup by Distribution Channel (USD Billion), 2023-2028
10.    Global Functional Water Historical Market: Breakup by Region (USD Billion), 2018-2022
11.    Global Functional Water Market Forecast: Breakup by Region (USD Billion), 2023-2028
12.    North America Functional Water Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    North America Functional Water Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Europe Functional Water Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Europe Functional Water Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Asia Pacific Functional Water Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Asia Pacific Functional Water Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Latin America Functional Water Historical Market: Breakup by Country (USD Billion), 2018-2022
19.    Latin America Functional Water Market Forecast: Breakup by Country (USD Billion), 2023-2028
20.    Middle East and Africa Functional Water Historical Market: Breakup by Country (USD Billion), 2018-2022
21.    Middle East and Africa Functional Water Market Forecast: Breakup by Country (USD Billion), 2023-2028
22.    Major Importing Countries by Value
23.    Major Exporting Countries by Value
24.    Major Importing Countries by Volume
25.    Major Exporting Countries by Volume
26.    Global Functional Water Market Structure

Key Questions Answered in the Report

In 2021, the global functional water market attained a value of nearly USD 5.64 billion.

The market is assessed to grow at a CAGR of 7.40% between 2023 and 2028.

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach almost USD 8.69 billion by 2027.

The major market drivers include the growing demand for flavoured functional water, multiple health benefits of the product, rising awareness about the health hazards of carbonated drinks, expanding distribution channels, rising use of sustainable packaging solutions, and wide adoption by millennials and working-class people.

The key trends guiding the growth of the market include the rising health-consciousness, increasing incidences of chronic and lifestyle disorders, and new product launches by market players.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The significant product types of functional water include flavoured functional water and unflavoured functional water.

The various ingredients of functional water include vitamins and proteins, among others.

The major packaging types of functional water include pet bottles and cans, among others.

The different distribution channels of the product include supermarkets and hypermarkets, convenience stores, speciality stores, and online, among others.

The major players in the market are PepsiCo Inc, Nestle S.A., Danone S.A., Hint Inc., and Tata Consumer Products Limited, among others.

Analyst Review

The global functional water market attained a value of nearly USD 5.64 billion in 2021, driven by the increasing popularity of functional water among the health-conscious consumers. Aided by new product launches, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 7.40%. The market is estimated to reach about USD 8.69 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The market for functional water, by product type, is bifurcated into flavoured functional water and unflavoured functional water. Based on ingredient, the market is segmented into vitamins and proteins, among others. On the basis of packaging, the market is divided into pet bottles and cans, among others. Based on distribution channels, the market is categorised into supermarkets and hypermarkets, convenience stores, speciality stores, and online, among others. The major regional markets for functional water are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include PepsiCo Inc, Nestle S.A., Danone S.A., Hint Inc., and Tata Consumer Products Limited, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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