South Korea Functional Water Market Report and Forecast 2024-2032

South Korea Functional Water Market Outlook

The South Korea functional water market is expected to grow at a CAGR of about 3.4% in the forecast period of 2024-2032. The growing demand for fortified health beverages is expected to expand the market of functional water during the given forecast period.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Health Benefits of Consuming Functional Water to bolster the Market Growth

Health-conscious people who want to shift their preference from caffeine, carbonated, and high-sugar beverages are driving the functional water market. Sportspersons, bodybuilders, and marathon runners need drinks that can keep their bodies hydrated for a long time while also offering refreshment, taste, and energy. Moreover, people are willing to spend on their health and well-being, and the trend of body detoxification further propels customers to invest in wholesome functional beverages. This factor compels the manufacturers to launch more health-based products to meet the ever-growing functional water market demand.

The modern diet is deficient in many vital macro and micro-nutrients that humans require to lead a healthy life, which is why the market for functional water is still expanding. The nutrient content in the fruits and vegetables we consume nowadays has decreased over time due to soil depletion caused by over-farming. "Essential" nutrients are so-called because we must obtain them through our diet, which is becoming challenging to get from our meals in modern times. Due to its physiological benefits , particularly on oxidative stress-related disorders like diabetes, cancer, arteriosclerosis, neurological diseases, and haemodialysis side effects, functional water has attracted great interest. Moreover, functional waters enhance nutrition absorption while being easy on the digestive system. Such health benefits aid in gaining traction among health-conscious people in South Korea, thereby providing the opportunity for market growth.

Growing Demand for Fortified Drinks to Bolster the Functional Water Market

Imposed lockdown and the need to maintain social distance popularised work-from-home culture temporarily slowed down the sales of functional water in the country. However, the market is on track and experiencing gradual growth because of the rising demand for immunity-boosting and performance-boosting products in South Korea. The demand for fortified water is proliferating the market growth, especially the one which offers essential nutrients and other health benefits such as improved gut health and weight management, among others.

Market Segmentation

Functional waters  are non-alcoholic and water-based beverages which are loaded with vitamins, minerals, or various infusions which provide numerous health benefits to the consumer. Natural or/and artificial flavours are often added to enhance the taste of water.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

By product, the South Korea functional water market is bifurcated into:

• Flavoured Functional Water

• Unflavoured Functional Water

Based on type, the functional water market of South Korea can be segmented into:

• Vitamins

• Proteins

• Others

On the basis of packaging, the South Korea functional water market is divided into:

• Pet Bottles

• Cans

• Others

Based on distribution channel, the South Korea functional water market is categorised into:

• Supermarkets and Hypermarkets

• Convenience Stores

• Speciality Stores

• Online Sales Channel

• Others

On the basis of province, the South Korea functional water market can be divided into:

• North Chungcheong

• South Chungcheong

• Gangwon

• Gyeonggi

• North Gyeongsang

• South Gyeongsang

• Jeolla

• Jeju

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Unique Flavours and Eco-Friendly Packaging Are Driving the Market Growth of Functional Water

Manufacturers have adopted sustainable design strategies in response to consumers' growing preference for goods with sustainable packaging. Functional drinks are kept safe and fresh from fill to usage owing to eco-friendly packaging. The aseptic technique  eliminates the need for refrigeration.  These products are shelf-stable and preservative-free. The young consumer base, especially Gen Z and Millennials, are more attracted to novel flavours, which fits nicely with young consumers' inclination for a taste exploration. Brands are now trying to see how customers react to bizarre variants to continue to excite consumers and reach out to new ones. Additionally, during the projected forecast period, sales of functional water may expand more rapidly through online retail channels than through conventional distribution channels like supermarkets and speciality stores. The market expansion of functional water in South Korea is fuelled by rising disposable income and high standard of living, which boosts the demand for premium products.

Key Players in the South Korean Functional Water Market

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

• Nestle S.A.

• Danone SA

• PEPSICO, INC.

• THE COCA-COLA COMPANY

• Others

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

Key Highlights of the Report