Reports
Global Functional Water Market Size, Share, Growth: By Product Type: Flavoured Functional Water, Unflavoured Functional Water; By Ingredient: Vitamins, Proteins, Others; By Packaging: Pet Bottles, Cans, Others; By Distribution Channels: Supermarkets and Hypermarkets, Others; Regional Analysis; Competitive Landscape; 2024-2032
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 2024-2032 to reach a value of around USD 8.69 billion by 2027.
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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.
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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.
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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 | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Ingredient |
|
| Breakup by Packaging |
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| Breakup by Distribution Channels |
|
| Breakup by Region |
|
| Market Dynamics |
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| Trade Data Analysis |
|
| Price Analysis |
|
| Competitive Landscape |
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| Companies Covered |
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| 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 (2018-2023)
8.3 Global Functional Water Market Forecast (2024-2032)
8.4 Global Functional Water Market by Product Type
8.4.1 Flavoured Functional Water
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Unflavoured Functional Water
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Functional Water Market by Ingredient
8.5.1 Vitamins
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Proteins
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Functional Water Market by Packaging
8.6.1 Pet Bottles
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Cans
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Functional Water Market by Distribution Channels
8.7.1 Supermarkets and Hypermarkets
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Convenience Stores
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Speciality Stores
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Online
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Others
8.8 Global Functional Water Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Functional Water Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Functional Water Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Functional Water Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Functional Water Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Functional Water Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
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 2032
2. Global Functional Water Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3. Global Functional Water Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4. Global Functional Water Historical Market: Breakup by Ingredient (USD Billion), 2018-2023
5. Global Functional Water Market Forecast: Breakup by Ingredient (USD Billion), 2024-2032
6. Global Functional Water Historical Market: Breakup by Packaging (USD Billion), 2018-2023
7. Global Functional Water Market Forecast: Breakup by Packaging (USD Billion), 2024-2032
8. Global Functional Water Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
9. Global Functional Water Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
10. Global Functional Water Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Functional Water Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Functional Water Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Functional Water Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Functional Water Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Functional Water Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Functional Water Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Functional Water Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Functional Water Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Functional Water Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Functional Water Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Functional Water Market Forecast: Breakup by Country (USD Billion), 2024-2032
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 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 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 2024-2032, 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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