Market Size of Europe Functional Water Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.25 Billion |
| Market Size (2029) | USD 1.74 Billion |
| CAGR (2024 - 2029) | 6.77 % |
| Market Concentration | High |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Functional Water Market Analysis
The Europe Functional Water Market size is estimated at USD 1.25 billion in 2024, and is expected to reach USD 1.74 billion by 2029, growing at a CAGR of 6.77% during the forecast period (2024-2029).
Functional water products usually contain vitamins, minerals, acids, and herbs, which are associated with supporting the immune system, cognitive function, and gut health. They also contain additives, known as aquaceuticals, that offer extra nutritional value. Therefore, with the growing trend toward health and wellness among consumers, functional water is gaining popularity and is increasingly being sold in global markets. Consumers' inclination toward non-alcoholic beverages leads to the consumption of functional beverages.
The demand for functional drinks is massive compared to fruit juices and carbonated beverages. Furthermore, the increasing trend of sugar-free or natural-sweetener-based functional water with fewer calories is anticipated to drive market growth during the forecast period. Moreover, the expansion of retail industries and the ease of availability of functional drinks through e-commerce, retail, and grocery stores contribute to market growth. Companies are launching products to cater to changing consumer tastes and preferences. For instance, in April 2023, Coca-Cola launched Glacéau Vitaminwater, the low-calorie drink, in Switzerland. It contains a variety of vitamins and minerals and is available in three flavors, which are "Blueberry and lavender," "Raspberry and apple," and "Citrus and guava".
