The global functional water market size reached US$14.03 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$21.55 billion by 2027 .
SHERIDAN, WYOMING, USA, Oct. 8, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report “Functional Water Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The La Global functional water market size reached US$14.03 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$21.55 billion by 2027, posting a growth rate (CAGR) of 7.10% during the period 2022-2027. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists, and anyone planning to enter the market in any form.
Functional water is a drink made from non-alcoholic water with additional substances, such as minerals, vitamins, acids, herbs and other additives, to improve the flavor of plain water. It is modified at the molecular level by mechanical, electrical, or optical processes to provide health and other functional benefits. It helps increase energy levels, regulate stress, reduce fatigue and improve mental health. It also strengthens the immune response, improves mood and minimizes the risk of developing cognitive disorders. Functional water is generally available in variants of protein, botanical and oxygenated water to meet the different nutritional needs of the customer. Currently, the emerging trend of conscious drinking is catalyzing the demand for functional water as consumers attempt to reduce their alcohol consumption and switch to healthy alternatives like functional water across the world.
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Note: We regularly track the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
Market trends:
Rising health awareness and increasing awareness of individuals about the nutritional benefits of functional water consumption are the major factors enhancing the growth of the market globally. The rising prevalence of gut-related disorders such as gastroesophageal reflux disease (GERD), gastroenteritis, and ulcers is also driving the market. Additionally, the increasing participation of individuals in recreational sports, fitness and sports activities is catalyzing the need for functional water. Additionally, consumers are increasingly aware of the presence of synthetic additives and preservatives in traditional beverages, which is contributing to the growth of the market.
Additionally, the growing consumption of ready-to-drink (RTD) beverages owing to the increase in the working population, hectic lifestyles, and increase in consumer spending power is creating a positive outlook for the market. As these products are readily available through the online retail channels, which offer a wide range of variants with shipping facilities and secure payment methods, the market is growing steadily. Apart from that, key players are introducing unique product variants, such as cannabidiol (CBD) infused spring water and amino acid enriched water.
They are also focused on launching artistic and easy-to-see bottle designs in attractive labels and sleek shapes that set them apart from the usual. Market players are offering new variants of functional water specifically for the healthcare sector. This, in turn, propels the growth of the market. In addition to this, several marketing strategies such as celebrity endorsements and social media campaigns to expand market reach are positively influencing the market. Additionally, the shifting inclination of individuals from soft drinks towards their nutritional alternatives offers lucrative growth opportunities for investors in the industry.
Breakdown by product:
Flavored Functional Water
Unflavored functional water
Breakdown by ingredient:
Micronutrients
Botanical extracts
Others
Breakdown by type:
vitamins
Proteins
Others
Breakdown by type of packaging:
PET bottles
Cans
Others
Breakdown by distribution channel:
Supermarkets and Hypermarkets
convenience stores
Specialty stores
Online stores
Market Breakdown by Region:
North America (USA, Canada)
Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive landscape with a key player:
Ayala Herbal Water
Balance Water Company
Danone S.A.
Functional drinks
Tip Inc.
Keurig Dr Pepper Inc.
Nestlé SA
PepsiCo Inc.
The Coca-Cola Company
Trimino Protein Infused Water
Unique Foods (Canada) Inc.
Catalan Society of Vichy.
Main highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market trends
Market drivers and success factors
Impact of COVID-19
Value chain analysis
Complete mapping of the competitive landscape
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As the novel coronavirus (COVID-19) crisis engulfs the world, we continuously monitor changes in markets, as well as industry consumer behaviors around the world and our estimates on the latest market trends and forecasts are made. after considering the impact of this pandemic.
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