According to the latest report by IMARC Group, titled “Functional Water Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global functional water market size reached US$ 15.1 Billion in 2022. Functional water, also known as enhanced water or fortified water, refers to a category of bottled water that has been infused with additional ingredients to offer health benefits beyond basic hydration. It contains added vitamins, minerals, electrolytes, antioxidants, and other bioactive compounds aimed at promoting hydration, supporting immune function, increasing energy levels, and enhancing overall well-being. Some varieties are specifically formulated to aid in post-workout recovery or to address specific health concerns, such as stress reduction or cognitive support. This innovative segment of the beverage industry has gained popularity as consumers seek healthier alternatives and functional beverages that address specific wellness needs.
Global Functional Water Market Trends:
The increasing consumer focus on health and wellness is driving the global market. As more individuals become conscious of their overall well-being, they are seeking healthier beverage options that offer additional benefits beyond hydration. Functional water, enriched with vitamins, minerals, antioxidants, and other bioactive ingredients, caters to this growing demand for health-enhancing beverages. Moreover, the rising prevalence of lifestyle-related health issues, such as obesity and chronic diseases, has prompted consumers to adopt healthier dietary habits. Functional water products that claim to offer specific health benefits, such as improved digestion, enhanced immunity, and increased energy, have gained traction as consumers seek convenient ways to incorporate health-promoting ingredients into their daily routines. Furthermore, the expanding fitness and sports industry has contributed to the functional water market's growth. Athletes and fitness enthusiasts often prefer functional water infused with electrolytes and other performance-enhancing ingredients to support their active lifestyles and aid in post-workout recovery. Moreover, the influence of social media and digital marketing has played a significant role in promoting functional water products. Looking forward, the market value is projected to reach US$ 24.8 Billion by 2028, expanding at a CAGR of 7% during 2023-2028.
- Based on the product, the market has been segmented into flavored and unflavored functional water. Currently, the flavored functional water represents the largest market segment.
- On the basis of the ingredient, the market has been divided into micronutrients, botanical extracts, and others. Among these, micronutrients exhibit a clear dominance in the market.
- Based on the type, the market has been bifurcated into vitamins, proteins, and others. Among these, vitamins account for the largest market share.
- On the basis of the packaging types, the market has been divided into PET bottles, cans, and others. Among these PET bottles exhibits a clear dominance in the market.
- Based on the distribution channel, the market has been segmented into supermarkets and hypermarkets, convenience stores, specialty stores, and online stores. Among these, supermarkets and hypermarkets exhibit a clear dominance in the market.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. Among these, North America holds the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being Ayala's Herbal Water, Balance Water Company, Danone S.A., Function Drinks, Hint Inc., Keurig Dr Pepper Inc., Nestlé S.A., PepsiCo Inc., The Coca-Cola Company, Trimino Protein Infused Water, Unique Foods (Canada) Inc. and Vichy Catalan Corporation.
|Base Year of the Analysis
||Product, Ingredient, Type, Packaging Types, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Ayala's Herbal Water, Balance Water Company, Danone S.A., Function Drinks, Hint Inc., Keurig Dr Pepper Inc., Nestlé S.A., PepsiCo Inc., The Coca-Cola Company, Trimino Protein Infused Water, Unique Foods (Canada) Inc. and Vichy Catalan Corporation
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