Functional Water Market- Growth, Trends, and Forecast (2019 - 2024)

Global functional Water market is segmented by Type as Vitamin, Protein, and Other Types, by Distribution Channel as Supermarket/Hypermarket, Specialty Store, Online stores, others; Geography.

Market Snapshot

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Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR% (2019 - 2024):

7.06%

Key Players:

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Market Overview

The global water market is forecasted to reach USD 160.89 billion by 2024, registering a CAGR of 7.06% during the forecast period (2019 - 2024). 

  • Functional water is recognized as aquaceutical, a non-alcoholic beverage similar to water having additional ingredients that increase functional benefits. It provides both refreshment and taste.
  • Some common additives are vitamins, acids, minerals, herbs, and fruits or vegetables which help in improving immunity and boost energy. The shift in preference from carbonated and high sugar beverages will drive the demand for the functional water market. 
  • The increasing trend of sugar-free or natural sweetener-based functional water that has no or low-calorie content.

 

Scope of the Report

The market studied is segmented by product type, distribution channel, and geography. On the basis of product type, the market studied is segmented into protein water, vitamin water, and others. By distribution channel, the market is segmented into specialist retail store, hypermarket/supermarket, online channel, and others. 

By Product Type
Vitamin
Protein
Other Product Types
By Distribution Channel
Supermarket/Hypermarket
Speciality Store
Online Store
Other Distribution Channels
Geography
North America
US
Canada
Mexico
Rest of North America
Europe
Germany
UK
France
Italy
Rest of Europe
Asia-Pacific
India
China
Australia
Japan
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
South Africa
Saudi Arabia
Rest of MEA

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Key Market Trends

Value Added Hydration Evolving Consumer Preferences in Functional Water Market

The rapid demand for fortified beverages is attributed to the inclusion of essential ingredients, such as protein, amino acids, vitamins, and minerals in various functional beverages. Introduction of new and innovative types of functional water from the beverage manufacturing companies that are engaged in the production of modified blends of protein and minerals is likely to fuel the growth of the market. The rise in obese and diabetic populations in the United States, China, India, Australia, and the United Kingdom, among others, has shifted the focus from carbonated soft drinks to bottled water in the recent past. A research by the International Food Information Council Foundation on Food and Health revealed that 47% of the total consumers prefer food with additional nutrients.

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Europe Held a Prominent Market in the Functional Water Market

The consumption pattern in the European region is shifting toward healthy and weight management ingredients. As functional water contributes to the same, the region stands at the top position. However, the demand for functional water received a boost with Coca-Cola’s acquisition of Glaceau Vitaminwater in 2007 in the United Kingdom. The transition from the United States to European markets and reformulation of the product using stevia and new vitamin and mineral combinations proved to be successful for the brand in the United Kingdom in 2012.With the growing trend toward health and wellness among consumers, functional waters with a blend of diverse flavors are an increasingly visible presence in the market shelves in the United Kingdom.

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Competitive Landscape

Danone, Coca-Cola, Pepsico, and Dr. Pepper Snapple are some of the prominent players in the functional water market. Some of the other players include Vitamin Well AB, Triamino Brands LLC, New York Spring, Herbal Water, Vichy Catalan Corporation, San Benedetto, Unique Foods (Canada), and others. Balance Water and Herbal Water have marked their position in the market with their unique product portfolio i.e., water enhanced with wild flowers and organic herbs respectively. The functional water market was led by Coco Cola with a share of 11.03%, followed by Pepsico and Danone.

Major Players

  1. The Coca-Cola Co.
  2. PepsiCo
  3. Danone Group
  4. Herbal Water
  5. Keurig Dr Pepper, Inc

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products and Services

      5. 4.3.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Vitamin

      2. 5.1.2 Protein

      3. 5.1.3 Other Product Types

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarket/Hypermarket

      2. 5.2.2 Speciality Store

      3. 5.2.3 Online Store

      4. 5.2.4 Other Distribution Channels

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 US

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 UK

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Australia

        4. 5.3.3.4 Japan

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of MEA

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Most Adopted Strategies

    3. 6.3 Most Active Companies

    4. 6.4 Company Profiles

      1. 6.4.1 The Coca-Cola Co.

      2. 6.4.2 PepsiCo

      3. 6.4.3 Balance Water Company

      4. 6.4.4 Danone Group

      5. 6.4.5 Dr. Pepper Snapple Group Inc.

      6. 6.4.6 Function Drinks

      7. 6.4.7 Trimino Brands Company LLC

      8. 6.4.8 Herbal Water

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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