247 Users Online
Flavored Functional Water Market Segmented By Flavored Water and Functional Water
The market for functional and flavored water can be expected to expand at a value based CAGR of 12.3% and show an increase in revenue from US$ 39,071.2 Mn to around US$ 117,323.1 Mn by 2033.
|
Functional and Flavored Water Market Size (2023E) |
US$ 39,071.2 Mn |
|
Projected Sales of Functional and Flavored Water (2033F) |
US$ 117,323.1 Mn |
|
Value CAGR (2023-2033) |
12.3% |
|
Value Share of Top 4 Countries (2022E) |
38.1% |
FREE Report Sample is Available
In-depth report coverage is now just a few seconds away
Get FREE Report Sample
The global functional and flavored water market has witnessed significant growth in the historical period registering a CAGR of 8.0% in the historical period and was valued at US$ 39,071.2 Mn in 2023. The market is expected to grow steadily with increasing consumption and awareness about benefits related to functional and flavored water.
Rising health consciousness among consumers worldwide is uplifting the popularity of healthy alternatives to ordinary food and beverages that they usually consume. Flavored and functional water is one of such healthy alternatives; while flavored water is bottled mineral, purified, or spring water, functional water is its derivative with added functional value in form of oxygen, minerals, vitamins, and botanicals.
The global market for functional and flavored water is estimated to reach an approximate valuation of US$ 117,323.1 Mn in the forecast period.
Make This Report Your Own
Take Advantage of Intelligence Tailored to your Business Objective
Get a Customized Version“Increasing demand from the consumers for functional water”
Growing health and wellness trends across the world has elevated the demand for clean, flavored, and hygienic drinking water. This, in turn, brought significant increase in the per capita consumption of flavored and functional water. Rising ageing population coupled with rising health consciousness among consumers resulted in a shift in demand from synthetic ingredients and high sugar concentrated drinks to healthful, better-for-you beverages. Consumers prefer low sugar and zero calorie drinks; this in turn is expected to drive the growth of the global flavored and functional water market.
Factors such as rapid urbanization, increasing disposable income, better standard of living, and expansion of retail chains supports the growth of flavored and functional water market. Companies too have synchronized their marketing efforts to promote flavored and functional water.
“Prevalence of Obesity and other Lifestyle Disorders”
Rising prevalence of obesity and growing awareness about healthy lifestyle among urban population are expected to remain the key drivers governing the growth of the global flavored and functional water market. As health concerns of consumers are detaining them from consuming artificial flavored beverages and carbonated drinks, the popularity of flavored water is growing.
Functional water is especially attractive because of its health benefits and reduced switching costs, as the price nearly equals that of the flavored water. Availability of a range of flavors and options in flavored and functional water will also boost the market growth, as consumers usually prefer to try new tastes and follow the best of them.
“Cosmetic Benefits Associated with Functional Water Consumption”
Although flavored and functional water is a bit expensive, increasing income levels nowadays allow people to consume premium products like this water, especially in developing nations. This is anticipated to be a major factor holding a positive impact on the market growth.
Manufacturing companies have been grasping the right market by linking water to health and beauty regimes. This will continue to hit developing markets over the forecast period. Exploding industrialization in China has led to polluted water supply, eventually pushing the demand for packaged drinking water. This is currently providing an uptick to flavored and functional water as well, and is foreseen to continue in the near future.
“Refreshing Taste of Flavored Water Encourages Consumers to Drink More Water”
Water with flavors tastes different from plain water. The flavor of the fruit added to the water gives it a special quality. Dietitians believe that infused water is highly beneficial since its distinctive flavor motivates people to drink more water. When it comes to losing weight, water is the most crucial component. Customers are tempted to drink more water since infused water tastes different from regular drinking water. Anything that encourages people to drink more water is good for their health. This is anticipated to increase market demand for flavored water.
“Impact of Plastic Packaging Bottles on the Environment”
Plastic bottles are frequently used by flavored water producers as a packaging material. Both the environment and human health are adversely affected by the use of plastic. Any form of water that is kept in plastic containers could be harmful to ingestion. When plastic bottles are used as packaging, the carbon footprint also rises. As a result, the market for functional and flavored water is being constrained by the usage of plastic bottles as packaging.
What is the value share held by Europe for the functional and flavored water market?
In 2023, the market for functional and flavored water in the world was dominated by Europe, with a value share of 29.1%. The high demand for functional water in France and Germany, which contributed 22.7% and 13.1% volume shares, respectively, to the entire Europe consumption, was primarily responsible for consumption. Nearly one-third of the entire European market comes from France.
How is the Middle East & Latin American Functional and Flavored Water Market Faring?
North America is the second-largest consumer of functional and flavored water, which held value shares of 22.3% respectively in 2023 in the global market. Convenience stores and online retail are the highest growing end-use industries in these regions.
The Latin American region is the larger consumer of functional and flavored compared to the Middle East and African region; however, the Middle East and African region will be growing at a faster growth rate compared to the Latin America region.
Which Product Type of Functional and Flavored Water Accounts for High Revenue Generation?
The functional and flavored water product type is divided in to flavored and functional segments among whom the functional water holds the major market share and is likely to dominate in the future as well.
Which Sales Channel of Functional and Flavored Water Accounts for Higher Sales Across the World?
The hypermarket/supermarket holds the major value share in 2023 and contributes to the overall shares of the functional and flavored water in the global market. A major contributing factor is the overall regional and local presence which makes product accessible to the general public.
Essentials of a healthy lifestyle have started to branch out into being trendier and more fun, and one of the best examples of this is the functional water trend that has seen some major advancements over the last decade. Flavored water and beverages have been popular, and now, as the healthy lifestyle trend takes flight, these beverages will also see an upward growth trend. There have been many launches of functional and flavored water in recent times, as more and more companies try to cash in on the rising popularity of this trend.
|
Attribute |
Details |
|
Forecast period |
2023-2033 |
|
Historical data available for |
2018-2022 |
|
Market analysis |
USD million for value |
|
Key regions covered |
|
|
Key countries covered |
|
|
Key market segments covered |
|
|
Key companies profiled |
|
|
Report coverage |
|
|
Customization & pricing |
Available upon request |
By Product Type:
By Sales Channel:
By Region:
The global market for functional and flavored water has a value of US$ 39,071.2 Mn in 2023.
The global market for functional and flavored water has a value CAGR of 8.0% from 2018-2022.
The global market for functional and flavored water has a value of US$ 117,323.1 Mn in 2033.
The global market for functional and flavored water has a value CAGR of 12.3% from 2023-2033.
The top players in the global functional and flavored water market includes NESTLE SPLASH, Pepsi Co., The Coca-Cola Company, KRAFT Foods.
