The functional water market share is expected to increase by USD 5.763 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 7.78%.
This functional water market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers functional water market segmentation by product (flavored functional water and unflavored functional water) and geography (APAC, North America, Europe, South America, and MEA). The functional water market report also offers information on several market vendors, including Bridgepoint Group plc, Danone SA, Disruptive Beverages Inc., Nestle SA, NYSW Beverage Brands Inc., PepsiCo Inc., Sunsweet Growers Inc., Suntory Holdings Ltd., The Coca-Cola Co., and Trimino Brands among others.
What will the Functional Water Market Size be During the Forecast Period?
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Functional Water Market: Key Drivers, Trends, and Challenges
The health-conscious among consumers is notably driving the functional water market growth, although factors such as the availability of low-cost alternative drinks may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the functional water industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Functional Water Market Driver
Health consciousness among consumers is a major factor driving the global functional water market share growth. The health benefits of consuming functional water are attributable to the presence of minerals, vitamins, herbs, and other essential elements. With the consumers being aware of the fact that functional beverages contain quality ingredients that provide additional health benefits, they are more inclined toward functional beverages, which is positively affecting the growth of the global functional water market. There is also a substantial rise in the consumer population that prefers bottled water due to the increasing rate of tap water contamination. Additionally, the growing awareness about the negative impact of sugary and aerated drinks is also supporting the demand for functional beverages. Rising instances of lifestyle diseases are making consumers more aware of the ingredients in the food products and beverages they consume. The increasing incidence of obesity, diabetes and other diseases is compelling them to avoid sugary soft drinks, and this trend is positively influencing the global functional water market.
Key Functional Water Market Trend
The growing popularity of functional water with herbal ingredients is another factor supporting the global functional water market share growth. The increasing demand for functional water with herbal ingredients across the globe is because the consumers are well-aware of the health-promoting benefits of consuming functional water infused with herbs. For instance, the consumption of aloe vera-infused drinking water is gaining recognition in the market for its role in enhancing the immune response of the human body. Additionally, functional water products with herbal ingredients are a healthier alternative to sweetened and carbonated beverages that have a fattening effect on the human body. There is a notable increase in the number of manufacturers with a specific focus on functional water products with herbal ingredients, and they continue to introduce a wide range of variants that cater to health-conscious consumers. Due to such reasons, the demand for functional water will continue to rise during the forecast period.
Key Functional Water Market Challenge
The availability of low-cost alternative drinks will be a major challenge for global functional water market share growth during the forecast period. Consumers who are fond of different flavors are more likely to consider substitutes like juices and soft drinks while looking to purchase bottled drinks. The global soft drink market is experiencing rapid growth due to the rising demand for soft drinks across various countries. Consumers who reside in hot climatic zones purchase soft drinks frequently, which is the main reason behind the availability of an extensive range of products and brands in the soft drink market in these areas. Other strong substitutes that are more likely to hinder the growth of the global functional water market include functional beverages such as sports and performance drinks, energy drinks, ready-to-drink (RTD) teas, enhanced fruit drinks, and soy beverages. Consumers have a perception that these substitute products probably offer similar benefits to functional water. Therefore, consumers are more likely to replace functional water with substitute products that are relatively cheaper than functional water, which will significantly reduce functional water product sales across countries.
This functional water market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global functional water market as part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
Who are the Major Functional Water Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Bridgepoint Group plc
- Danone SA
- Disruptive Beverages Inc.
- Nestle SA
- NYSW Beverage Brands Inc.
- PepsiCo Inc.
- Sunsweet Growers Inc.
- Suntory Holdings Ltd.
- The Coca-Cola Co.
- Trimino Brands
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as expanding the shelf space of functional water products at various retail outlets to increase the visibility of their products to compete in the market.
Product Insights and News
- Bridgepoint Group Plc- The company offers functional water which is tasty, nutritious, and contains less sugar under different brand names such as Vitamin well Awake, Upgrade, Celebrate, Reload, and many more.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The functional water market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Functional Water Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the functional water market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global packaged foods and meats market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovation
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for the Functional Water Market?
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41% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the market in APAC. Market growth in this region will be slower than the growth of the market in Europe.
Due to the high level of contaminants in the drinking water in the region due to a rise in urbanization and pollution, consumers have become increasingly conscious of the health effects of the foods and beverages they consume and this will facilitate the market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What are the Revenue-generating Product Segments in the Functional Water Market?
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The market share growth in the flavored functional water segment will be significant during the forecast period. With the increase in the incidence of obesity and other lifestyle diseases, consumers have started to look for low-calorie drinks, which has raised the demand for flavored functional water products.
This report provides an accurate prediction of the contribution of all the segments to the growth of the functional water market size and actionable market insights on post-COVID-19 impact on each segment.
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Functional Water Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.78% |
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Market growth 2021-2025 |
$ 5.763 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
7.40 |
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Regional analysis |
APAC, North America, Europe, South America, and MEA |
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Performing market contribution |
APAC at 41% |
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Key consumer countries |
US, China, Japan, Germany, and Canada |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
Bridgepoint Group plc, Danone SA, Disruptive Beverages Inc., Nestle SA, NYSW Beverage Brands Inc., PepsiCo Inc., Sunsweet Growers Inc., Suntory Holdings Ltd., The Coca-Cola Co., and Trimino Brands |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Functional Water Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive functional water market growth during the next five years
- Precise estimation of the functional water market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the functional water industry across APAC, North America, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of functional water market vendors
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