Market Research Future Insights

According to MRFR analysis, the global Flavored and Functional Water Market is expected to register a CAGR of 7.57% from 2022 to 2030 and hold a value of over USD 23.91 billion by 2030.

Flavored and functional water is a healthy drink that offers instant energy. Rapid urbanization and fast-paced life have caused a noteworthy increase in health-related concerns. Thus, consumers are attracted to products that are effortlessly available and do not hinder their health. Flavored and functional water is accessible in attractive packaging and bottles and is readily available. Hence, the consumer need is catered and this factor contributes to quickening the growth of the flavored and functional water market.  During the COVID-19 epidemic, consumers’ focus was centered on appropriate nutritional intake, and a majority of consumers swapped toward healthier beverage options, which involved vitamin- and mineral-infused functional waters. Thus, the COVID-19 epidemic is projected to offer more opportunities for the Flavored and Functional Water Market during the estimated period.

Regional Analysis

North America for instance presently has dominance, backed by healthy growth in the demand from the U.S. Sales of bottled water have already exceeded that of soft drinks in the country, encouraging companies to enlarge their functional offerings.

The increasing demand for functional water in North America is causing a major change in the beverage industry. Some of the leading brands are connecting the bandwagon to offer functional hydration experiences to consumers. As a result, there is a higher focus on modernizing the compositions of beverages to lure consumers favor of purchasing them.

Consumers in Europe display a marked preference for flavored and functional water. However, reflecting the total population in Asia Pacific, it is highly likely that market players will mark the countries in the region. As a result of growing awareness, consumers in Asia Pacific have become more eager to spend on functional beverages.

Market Segmentation

The global Flavored and Functional Water Market has been segmented into product and distribution channels.

Based on Product, the global Flavored and Functional Water Market has been segmented into flavored water and functional water. Flavored water is dominating the market. Flavored water majorly efforts on several health benefits such as better immunity and energy-boosting. Flavored waters can be delightful and hydrating deprived of paying detrimental weight gain, depending on the changeability. Favorable antioxidants from plant extracts and fruit fluids are recognized in some cultivars. Dietary benefits are pouring into the flavored water market. Incessant product innovation and per capita consumption of water have also augmented the sale of flavored water. The flavored market is anticipated to reach a CAGR of 8.9% in 2030.

Based on Distribution Channel, the global Flavored and Functional Water Market has been segmented into Supermarkets & hypermarkets, Convenience Stores, Online Stores, and Others. The supermarket & Hypermarket is anticipated to dominate the Flavored and Functional market. The sale of flavored water in the Supermarket has augmented a market share of 8.2% in Great Britain. Providing diversity in flavored water in supermarkets & hypermarkets can appeal to the consumer and give lucrative growth for the flavored and functional water market. The production of functional water has also augmented in various countries such as Australia and China which is measured to be another factor for pouring the growth of this segment.

Key Players

Some of the Key Flavored and Functional Water Market Players are Hint Water, Nestle Water, Herbal Water, The Coca-Cola Company, Groupe Danone, New York Spring Water, Kraft Foods, Balance Water Company, and Sunny Delight Beverage Companys

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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