North America Functional Water Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The North America Functional Water Market is Segmented by Product Type (Plain Functional Water and Flavored Functional Water), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online Stores, and Other Distribution Channels), and Geography

Market Snapshot

North America functional water market summary
Study Period: 2016 - 2026
Base Year: 2021
CAGR: 6.49 %

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Market Overview

The North American functional water market is projected to register a CAGR of 6.49% during the forecast period. 

  • The market studied is primarily driven by health and wellness trends, along with the exquisite product offerings by various global and regional players. The growing consumer demand for functional beverages has been the crucial factor that is driving the growth of the market studied. 
  • Convenience of consumption and the effect on human nutrition are the factors that are increasing the demand in the market. The growing popularity of functional water among the working class and millennial population is expected to improve the development of the market. 

Scope of the Report

The North American functional water market is segmented by product type, into plain and flavored functional water. By distribution channel, the market is segmented into specialist retail stores, hypermarkets/supermarkets, online stores, and other distribution channels. This study also involves the analyses of regions, such as the United States, Canada, Mexico, and the rest of North America.

By Type
Plain Functional Water
Flavored Functional Water
By Distribution Channel
Supermarkets/Hypermarkets
Specialty Stores
Online Stores
Other Distribution Channels
By Country
United States
Canada
Mexico

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Key Market Trends

Growing Preference for Functional Water with Protein

Fortification is the process of adding one or more essential nutrients to foods, whether or not they are normally contained in the food, for the purpose of preventing or correcting demonstrated deficiency of one or more nutrients. Protein is among the top trends in the food and beverage industry all across the world. Flavoured functional waters infused with protein are specifically developed by manufacturers to help consumers meet their exercise, diet, and lifestyle goals. Protein-rich functional water is essential for lean muscle growth and repair, and can also promote the feeling of satiety. This is expected to drive the growth of the flavoured protein functional water segment over the forecast period.

North America Functional Water Market1

United States Dominates the Market

Functional water is vitamin-enriched waters that have gained consumer popularity for convenience, perceived health benefits, and improved flavor over tap water. Multiple qualities of functional water contribute to the evident attraction evinced among US consumers for the product. The versatility of functional water makes it suitable for consumption at any time of the day and in just about any setting or situation. Compared to other RTD beverages, functional waters are comparatively inexpensive and various packaging options, like containers and single-serve bottles, are making it more popular among consumers, thereby driving the growth of the functional water market. Consumers in the United States have started to develop an interest in beverages that deliver benefits above and beyond simple refreshments, who are also contributing to the expansion of the functional water market.

North America Functional Water Market2

Competitive Landscape

The North American functional water market is fragmented, due to the presence of various 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 growing demand of the consumers. The major players are The Coca-Cola Company, PepsiCo, Dr. Pepper Snapple Group Inc., Trimino Brands Company LLC, and Function Drinks, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 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

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Plain Functional Water

      2. 5.1.2 Flavored Functional Water

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarkets/Hypermarkets

      2. 5.2.2 Specialty Stores

      3. 5.2.3 Online Stores

      4. 5.2.4 Other Distribution Channels

    3. 5.3 By Country

      1. 5.3.1 United States

      2. 5.3.2 Canada

      3. 5.3.3 Mexico

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 The Coca-Cola Company

      2. 6.4.2 PepsiCo

      3. 6.4.3 Disruptive Beverages Inc.

      4. 6.4.4 Dr. Pepper Snapple Group Inc.

      5. 6.4.5 Trimino Brands Company LLC

      6. 6.4.6 Function Drinks

      7. 6.4.7 NYSW Beverage Brands Inc.

      8. 6.4.8 Unique Foods (Canada) Inc.

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

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Frequently Asked Questions

The North America Functional Water Market market is studied from 2016 - 2026.

The North America Functional Water Market is growing at a CAGR of 6.49% over the next 5 years.

The Coca-Cola Company, PepsiCo, Dr. Pepper Snapple Group Inc., Trimino Brands Company LLC, Function Drinks are the major companies operating in North America Functional Water Market.

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