Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Functional Water market.
Trusted Business Insights presents an updated and Latest Study on Functional Water Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Functional Water market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Get Sample Copy of this Report @ Functional Water Market Size, Share and Industry Analysis By Ingredient (Micronutrients, Botanical Extracts, Other Functional Ingredients), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, Others), and Regional Forecast 2020-2029-(Includes Business Impact of COVID-19)
The global functional water market size was USD 10.34 billion in 2017 and is projected to reach USD 18.24 billion by the end of 2025, exhibiting at a CAGR of 7.4% in the forecast period.
We have updated the Functional Water Market with business impact analysis and disruption caused by COVID-19.
Inquire before buying
Healthy hydration, affordably nutritional and refreshingly thirst-quenching attributes are some of the major growth pillars in the global market for functional water. There has been a rapid evolution in hydrating experience -water ensuring sleep quality and water for the body-detox are some of the interesting innovations in this category. Functional beverages as a whole have robustly emerged as a preferred drink as compared to soft drinks that contain added sugars and a host of synthetic additives such as colors, flavors, and preservatives.
Functional water sales are thus benefitting from the overarching consumer trend toward better-for-you alternatives to unnatural and high-sugar drinks. Price still remains the major factor influencing the purchasing patterns of all the functional beverages including enhanced water, however brands in this market are justifying their premiums offerings with the host of label claims are expected to fetch higher sales margins, augmenting the market revenue. The innovation in bottling (packaging) technology coupled with strengthening retail distribution scenario is further facilitating the functional water market growth.
“”Minerals are Usually Incorporated in Bottled Water -Botanical Extracts Are Expected to Witness Increased Incorporation””
The enhanced waters are generally micronutrients-fortified, hence a dominating segment in the functional water market. Nonetheless, the utilization of novel ingredients is gaining traction in the global market. The market has witnessed growing inclination towards all-natural and plant-based ingredients that are easily recognizable and accepted owing to their widely known health benefits.
The active principles from variety of super fruits, herbal extracts and other plant-based ingredients are known to not only serve the functional role of synthetic additives but also substantially increase the nutritional profiles of specialty water. The rising demand for micronutrients in functional water is expected to increase the functional water market share through the forecast years. As per the report, micronutrients hold 54.7% of the share in the global market for functional water.
“”Mass Merchandisers Dominate the Global Retail Distribution, Convenience Stores and Online Retailing Are Set to Witness Rapid Growth. “”
Mass merchandisers viz. supermarkets and hypermarkets hold sway in the distribution channels for functional water sales -this retail distribution is leading based on the variety, availability, and accessibility of enhanced water. Moreover, the bundling strategy and economic pricing is responsible for higher sales of functional water among mass merchandisers. In addition to this, the bundling strategy and economic pricing also fetches greater sales of this water among mass merchandisers, impacting the functional water market size. Convenience stores and online retail are expected to witness greater traction for functional water in the foreseeable future owing to their penetration and personalized purchasing experiences. This, in turn, is likely to surge the functional water market revenue in the forthcoming years.
“”Developed Market of North America holds a Lion Share Propelled by Promising Sales Growth in the United States -Asia Pacific Region is set to Witness Fastest Growth Rate during 2017-2025 “”
The developed market of North America is a clear leading region for functional water sales owing to its robust growth in the United States. The sales of bottled water have recently surpassed soft drinks sales in the United States and the bottled water sector is thus a leading horse prompting companies to invest and expand their functional offerings.
The escalating demand for bottled water in the U.S. is strongly driving the functional water market in North America. The functional hydration experience has now become a key focus for the majority of soft drink giants which are either innovating on the composition of the product or creating a context where consumers are lured to purchase it.
Asia Pacific Functional Water Market, 2017
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 specialty offerings of which functional water is quickly emerging as a distinct and recognizable category. Consumers look for better-for-you alternatives to carbonated soft drinks (CSDs) and the innovation in flavor is driving the bottled water categorys success.
Key Market Drivers
“”The Functional Water Market is Moderately Consolidated among Key Global Players of Non-alcoholic Beverages Sector -Regional and Private Label Brands are expected to flourish in the Foreseeable Future.””
The global market for functional water should be understood from its parent/related markets viz. functional beverages and bottled water -both of these sectors exhibit strong dominance of key global brands intensely seeking the consolidation of the overall market. Nonetheless, the bottled water sector remains less heavily concentrated with a number of smaller, independent, and niche brands exercising significant dominance in their home markets.
The functional water market is also experiencing a strong emergence of small private-label brands embarking on offering enhanced convenience and value-for-money. Portfolio expansion i.e. new product development remains one of the most preferred strategies in the global market.
Consumers are exhibiting ever-growing inclination towards exotic ingredients and bold flavors that not only appeal the palette but also are functional in terms of the overall nutritional profile. In February 2019, The Coca-Cola Co. added two new additions (Smartwater alkaline and Smartwater antioxidant) to its Smartwater brand.
Companies such as Danone S.A. are channelizing their efforts towards developing markets of Asia Pacific where it expects a double-digit growth rate of enhanced water sales performance, particularly in the countries such as China, India, and Indonesia.
Companies are also capitalizing on packaging level innovation to create enhanced aesthetic appeal – LIFEWTR, premium water brand of PepsiCo, announced it is championing Art through Technology in March 2019 as its seventh design series. The increasing adoption of strategies by companies is expected to stimulate growth in the functional water market.
The functional water market report analyses the global demand sentiments of enhanced water -a rapidly emerging segment within the bottled water space. Functional/Enhanced/Value-added water is a category of bottled water which is infused or fortified with functional ingredients or modified in terms of chemical composition that makes it superior in terms of nutrition as compared to plain packaged water bottles.
Although majority of bottled water available in retail space is fortified with minerals, the global market for functional water is set to witness evolution in terms of ingredients that are added to increase the overall value, resulting in premiumised offering. The sustainable future of functional or value-added water will rely on the ability of this product to hydrate, refresh and, offer a value-added function that enhances its sale-ability.
The report on global functional water provides qualitative and quantitative insights on the functional water industry and detailed analysis on the market size & growth rate for all possible segments in the market. The market is segmented by ingredient and distribution channel. On the basis of ingredients, the global functional water market is categorized into micronutrients, botanical extracts, and other functional ingredients.
Based on the distribution channel, the market is segmented into supermarkets/ hypermarkets, convenience stores, online retail, and others. Geographically, the market is segmented into four major regions, which are North America, Europe, Asia Pacific, and the Rest of the World (Row). The regions are further categorized into countries.
Along with this, the report provides an elaborative analysis of the functional water market dynamics and competitive landscape. The report offers various insights on the overview of related markets, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, and key industry trends.
- Botanical Extracts
- Other Functional Ingredients
By Distribution Channel
- Supermarkets/ Hypermarkets
- Convenience Stores
- Online Retail
- North America (U.S., Canada, and Mexico)
- Europe (Germany, France, Italy, UK, Russia, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, and Rest of Asia Pacific)
- Rest of the World (Brazil, UAE, South Africa, and Rest of the World)
Key companies covered in the report
- The Coca-Cola Company
- Groupe Danone
- Dr Pepper Snapple Group Inc.
- Nestle S.A.
- Allure Organics
- Tata Global Beverages
- The Alkaline Water Co.
- Nirvana Water
- Balance Water Company LLC
Key Industry Development
In June 2019, All Market Inc. (AMI) through its brand Vita Coco launched a new canned water line, Ever & Ever. The product is a reverse osmosis water with added electrolytes for balance.
In February 2019, smartwater, a brand of The Coca-Cola Co., introduced two new additions to its lineup: smartwater alkaline and smartwater antioxidant. Like the original smartwater, both new products are vapor-distilled water with added electrolytes.
In February 2019, Middle Eastern mineral water giant Agthia Group launched Al Ain Zero Bromate drinking water, suitable for pregnant women and patients with kidney issues
Quick Read Table of Contents of this Report @ Functional Water Market Size, Share and Industry Analysis By Ingredient (Micronutrients, Botanical Extracts, Other Functional Ingredients), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, Others), and Regional Forecast 2020-2029-(Includes Business Impact of COVID-19)
Trusted Business Insights
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580