Global Functional Water Market: Overview
Functional water is simple plain H2O that comes with added special ingredients, such as antioxidants, vitamins, and herbs to offer additional health-related benefits. In addition, raw fruits and vegetable are also added to the water to enhance its value as a health drink. The promise of additional health benefits is estimated to bolster growth of the global functional water market in the forthcoming years.
Functional water is not an alcoholic drink and the nature of the beverage can be changed with the addition of other ingredients. Functional water comes with additives and these additives are also known as aquaceutical.
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The rise in the demand for fortified beverages is ascribed to the addition of various essential ingredients, such as mineral, vitamins, amino acids, and protein. Introduction of innovative and new types and brands of functional water by the vendors involved with the making modified blends of minerals and protein is estimated to boost the growth of the global functional water market in the coming years.
Product type, distribution channel and region are the three important parameters based on which the global Functional Water market has been categorized.
Global Functional Water Market: Notable Developments
One of the developments that offer a glimpse of the market dynamics about the global functional water market is mentioned below:
- In October 2018, Coco Cola, a leading premium water brand in the world, introduced two new products, namely smartwater alkaline and smartwater antioxidant to it portfolio of functional water.
Some of the prominent organizations in the global functional water market include the below-mentioned:
- Triamino Brands LLC
- Vichy Catalan Corporation
- Vitamin Well AB
- The Coca-Cola Company
- PepsiCo, Inc.
- Keurig Dr Pepper, Inc
Global Functional Water Market: Key Trends
The global functional water market is characterized by the presence of the following restraints, drivers, and opportunities.
Increased Health Consciousness to Contribute toward Increased Sales of Functional Water
The one of the factors responsible for the growth of global functional water market is the maturity of the market for soft drinks across the globe. Increasing preference for healthy, nutritional drinks is further anticipated to open up the scope for the market in the years to come. Functional water also come with additional oxygen and nutrients is likely to help the product gather traction amongst the health conscious people. Many of the manufacturers are not only adding extra health benefits but are also offering skin benefits, which is likely to support growth of the global functional water market over the period of assessment.
There has been a rise in the incidences of diabetes and obesity across the globe, particularly in the United Kingdom, Unites States, Australia, India, and China. Augmented prevalence of obesity and diabetes is likely to move the focus from carbonated drinks to functional water, there driving the demand for the product.
Global Functional Water Market: Geographical Analysis
Europe, Asia Pacific, Middle East and Africa, North America, and Latin America are the geographies that are analyzed. Of these, the market in Europe is anticipated to dominate the global functional water market, thanks to the prevalence of high level of health consciousness. Furthermore, high disposable income of the people in the region is another growth factor of the functional water market in Europe.
The global functional water market is segmented as:
- Supermarket/ Hypermarket
- Specialty Store
- Online Store
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