The functional water market is witnessing significant growth, projected to expand at a CAGR of 6.2% from 2023 to 2033, reaching a value of USD 27,281.72 million by 2033. This growth is primarily driven by increased consumer awareness of healthy alternatives, innovation in flavor and packaging, and the growing trend of functional beverages.
Consumers are increasingly seeking healthy and functional beverage options, leading to a surge in demand for flavored functional water. The market is propelled by factors such as improved nutritional profiles, refreshing flavors, and the ability to provide mental relaxation and stress reduction. As health-conscious consumers prioritize beverages with fewer calories and natural ingredients, the demand for functional water is expected to continue rising.
Increased Consumption by Health-conscious Population to Drive Functional Water Market Growth
The rise in demand for functional water due to its sustainability, rising consumer awareness of plastics as non-biodegradable pollutants harming the environment, and technological developments in the product packaging are the primary factors driving the functional water market.
Request Sample Report and Drive Impactful Decisions: https://www.futuremarketinsights.com/reports/sample/rep-gb-1941
The functional water market is fueled by several growth factors, including the demand for fortified beverages containing essential elements such as vitamins, minerals, and proteins. Innovations in product development, such as exotic flavors and functional ingredients, are driving consumer interest and market expansion. Moreover, the shift towards healthier lifestyles and the growing awareness of the benefits of functional beverages contribute to the market’s growth trajectory.
Government initiatives, a growing population of diabetes and obese patients, increased investment in research and development activities, and a rise in disposable income are the factors which have a beneficial impact on the functional water industry. Furthermore, technical advances, new product launches, and packaging material product innovations provide profitable chances to functional water market players during the projection period.
Key Takeaways
- The functional water market is expected to capture a CAGR of 6.2% during the forecast period 2023 to 2033.
- Growing popularity of functional water among the working class and millennial population, as well as creative product advancements, are likely to improve and accelerate the market growth over the projection period.
- North America dominated the functional water market.
Key Developments
- October 2022 – CENTR Brands Corporation announced the addition of CENTR Enhanced, a non-CBD functional sparkling water, to its growing array of health and wellness products.
- July 2022 – As a part of Flow Beverage Corp.’s most recent product launch, the Flow Vitamin-Infused Water range of products was offered to consumers in three new organic flavors: Cherry, Citrus, and Elderberry.
- March 2022 – Nirvana Water Sciences Corp. introduced their Nirvana HMB + Vitamin D3 spring water as part of Expo West in Anaheim, California. Nirvana HMB + Vitamin D3 is one of the most recent additions to the repertoire. It provides both muscular rehabilitation and immunological support.
- May 2021 – PepsiCo Inc., a renowned worldwide food and beverage business, introduced Soul boost, improved sparkling water produced with beneficial additives. The drink comes in two flavors: Lift and Ease. The Lift has 200 mg of ginseng, which aids in mental stamina, and Ease contains 200 mg of theanine, which aids in relaxation.
- March 2021 – Nestlé S.A. announced the acquisition of Essentia Water, a premium functional water brand located in Washington. The company’s portfolio is being expanded to include international mineral and premium water brands, as well as healthy hydration products such as functional water.
Unlock the Power of Personalized Insights! Request Your Customization Report Today and Ignite Your Journey to Success: https://www.futuremarketinsights.com/customization-available/rep-gb-1941
Start-up Scenario
The new entrants in the functional water market are continually indulging in several collaborations and highly investing in research and development activities to provide more convenient solutions to industry verticals.
Some of the key start-ups that are leading the development of the market are, Funkthedrink, Ugly Drinks, Focus Water, OSHEE, Diva’s Drink, Viwa Vitamine Water, Herbal Water, and Miami Bay Beverage LLC
- Herbal Water introduced by Dr. Ayala in 2007, as an alternative to sugar-laden and artificially flavored beverages, Dr. Ayala created blends of herb-infused waters that magically satisfy thirst and restore the spirit.
- Miami Bay Beverage LLC introduced Trimino Protein Infused Water in the market. The flavored, enhanced waters boast 7 grams of whey protein isolate, B-complex vitamins, and essential amino acids in each 16-ounce bottle. With 28 calories in each bottle, trimming is offered in four flavors: Peach, Mixed Berry, Strawberry Lemonade, and Coconut Pineapple.
Prominent Players in the market
- Danone
- Coca-Cola
- Pepsico
- Dr. Pepper Snapple Vitamin Well AB
- Triamino Brands LLC
- New York Spring
- Herbal Water
- Vichy Catalan Corporation
- San Benedetto
- Unique Foods (Canada)
Key Takeaways for Investors:
Innovation Driving Growth: Manufacturers’ focus on developing innovative products and introducing new flavors is expected to drive market growth. Companies investing in portfolio expansion and new product development are likely to gain a competitive edge in the market.
Changing Consumer Preferences: Increasing consumer awareness about health and wellness is driving demand for functional beverages, including flavored functional water. Investors can capitalize on this trend by investing in companies that offer healthy and innovative beverage options.
Market Expansion Opportunities: The functional water market presents significant growth opportunities, particularly in regions like North America, Europe, and Asia Pacific. With rising disposable incomes and changing consumer preferences, there is immense potential for market expansion and revenue generation.
Challenges and Opportunities: While the market faces challenges such as regulatory constraints and competition from substitutes, the growing demand for functional water presents lucrative opportunities for investors. Companies focusing on product differentiation and meeting consumer demands for healthy and functional beverages are likely to thrive in the market.
Gain Immediate Access to Detailed Market Insights Purchase Now: https://www.futuremarketinsights.com/checkout/1941
Key Segments Profiled in the Market
By Type:
- Vitamin
- Protein
- Others
By Distribution Channel:
- Specialty Stores
- Supermarket/Hypermarket
- Online Stores
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
