Europe Functional Water Market Size
|Study Period:||2018 - 2028|
*Disclaimer: Major Players sorted in no particular order
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Europe Functional Water Market Analysis
The European Functional Water Market is expected to register at a CAGR of 7.89% over the next five years.
With the growing trend of health and wellness among consumers, functional waters with diverse flavors are becoming increasingly visible in the European market. Several functional water companies from other regions are diversifying into European countries in organic and inorganic manners. This is evident with Coca-Cola’s expansion into the functional water segment with the acquisition of Glaceau, the energy brand, and its fortified ranges, like Vitaminwater. The manufacturers are incorporating innovative ways to create awareness about the products and communicate functional water's health benefits. The consumers' preference for tasty and healthy alternatives to carbonated drinks is driving the market.
Additionally, functional drinks, like energy drinks, are widely consumed by adolescents due to their claims of improving performance, endurance, and alertness. Furthermore, erratic working hours and the increasing occurrence of social gatherings are driving consumers toward energy drinks in search of instant energy. Moreover, the rising health consciousness, the increasing awareness regarding the need for an active lifestyle, and the rising prevalence of lifestyle diseases have inspired health-oriented consumers to opt for healthy and sugar-free drinks. The functional drinks market is projected to grow due to an increase in promotional and advertisement strategies by various manufacturers operating in the market.
Europe Functional Water Industry Segmentation
Functional water typically has added health and functional advantages. It falls under the non-alcoholic beverage category. Supplemental components, such as vitamins, minerals, acids, herbs, raw fruits, or vegetables, are added to enhance it. The European functional water market is segmented by product type, distribution channel, and geography. By product type, the market is segmented into flavored functional water and plain functional water. By distribution channel, the market is segmented into specialist retail stores, hypermarkets/supermarkets, online channels, and other distribution channels. This study also involves the analyses of regions such as Germany, the United Kingdom, Italy, France, Russia, Spain, and the Rest of Europe. For each segment, the market sizing and forecasts have been done on the basis of value (in USD millions).
|Flavored Functional Water|
|Plain Functional Water|
|Other Distribution Channels|
|Rest of Europe|
Europe Functional Water Market Trends
This section covers the major market trends shaping the Europe Functional Water Market according to our research experts:
Increase in Advertisements of Functional Water Fuelling Sales in the Supermarkets/Hypermarkets
From the very beginning, advertisements and promotions have played a vital role in the sales of food and functional beverage. The distribution of functional beverages through supermarket/hypermarket retail channels is widely accepted by both companies and consumers. The hypermarket and supermarket shelves are all acquired by private and international brands for functional water. For European consumers, hypermarkets and supermarkets have become the preferred type of retail stores for frequently purchased packaged goods due to their lower prices and convenient one-stop shopping experiences. Due to the power of bargaining offered to the consumers and owing to their dynamism and positioning, these store formats are becoming more popular among the residents and people with newer lifestyles. Additionally, canned functional drinks, including energy drinks, have a higher penetration in the market for their on-the-go consumption and availability in a wide range of retail outlets, such as kiosks, convenience stores, and supermarkets/hypermarkets, which has helped to spur the purchase of canned functional drinks across Europe.
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Germany Holds the Highest Share in the Market
The consumers' preference for tasty as well as healthy alternatives to carbonated drinks is driving the demand for functional water in Germany. Glacéau Vitaminwater, a brand of the Coca-Cola Company, was launched in Germany following its international success. Initially, the company is targeting Hamburg and planning to expand further to Munich, Cologne, Berlin, and the rest of Germany. German consumers focus more on the quality of functional water than its price while making the purchase. This indicates that the sales of well-established brands are likely to be greater when compared to private label lines because they are perceived to offer better quality products. Functional water companies in Germany are launching promotional campaigns and advertisements by incorporating celebrity endorsements, TV commercials, and other communication methods.
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Europe Functional Water Industry Overview
The European functional water market is fragmented due to the presence of various global and regional players in the industry. The key players are focusing on several strategies, such as new product developments, expansions, mergers and acquisitions, and partnerships, to meet the increasing demand from consumers. The major players are The Coca-Cola Company, PepsiCo, Inc., Danone S.A., Vitamin Well AB, and Acqua Minerale San Benedetto SpA, among others.
Europe Functional Water Market Leaders
The Coca-Cola Company
Vitamin Well AB
Acqua Minerale San Benedetto S.P.A
*Disclaimer: Major Players sorted in no particular order
Europe Functional Water Market News
- March 2022- Gatorade Fit, a new electrolyte beverage with no added sugar, artificial tastes or sweeteners, or artificial colors, was introduced by PepsiCo as a fitness product. The beverage, according to the manufacturer, contains electrolytes from sea salt and watermelon as well as antioxidants, along with vitamins A and C.
- July 2021- Volvic, a brand of natural mineral water from Danone, introduced new fruit-flavored water varieties for both adults and kids in combismile 250 mL and 330 mL cartons for on-the-go consumption. The product was initially launched in the French market.
- May 2021- PepsiCo Inc. introduced Soulboost, a functional sparkling water brand that is available in two varieties: Lift and Ease. According to the company, the Lift variety has 200 mg of panax ginseng to help support mental stamina and is available in blueberry pomegranate and black cherry citrus flavors.
Europe Functional Water Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Flavored Functional Water
5.1.2 Plain Functional Water
5.2 Distribution Channel
5.2.2 Specialty Stores
5.2.3 Online Stores
5.2.4 Other Distribution Channels
5.3.1 United Kingdom
5.3.7 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 The Coca-Cola Company
6.3.2 PepsiCo, Inc.
6.3.3 Disruptive Beverages Inc.
6.3.4 Vichy Catalan Corporation
6.3.5 Highland Spring Ltd.
6.3.6 Acqua Minerale San Benedetto SpA
6.3.7 Vitamin Well AB
6.3.8 Upbeat Drinks
6.3.10 Molecule Beverages
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Functional Water Market Research FAQs
What is the study period of this market?
The Europe Functional Water Market is studied from 2018 - 2028.
What is the growth rate of Europe Functional Water Market?
The Europe Functional Water Market is growing at a CAGR of 7.89% over the next 5 years.
Who are the key players in Europe Functional Water Market?
The Coca-Cola Company, Vitamin Well AB, Acqua Minerale San Benedetto S.P.A, Danone S.A., PepsiCo, Inc. are the major companies operating in Europe Functional Water Market.
Europe Functional Water Industry Report
Statistics for the 2023 Europe Functional Water market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Functional Water analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.