Flavored and Functional Water Market Projected to Have a Stable Growth for the Next Few Years
Flavored water is a kind of spring, purified, bottled mineral water with flavors added to it. Flavored water is a combination of mineral water, various fruit juices concentrations (such as pineapple, blackberry, mango, apple, strawberry, orange and others), artificial sweeteners or natural sweeteners. Whereas, the functional water is derived from flavored water and is prepared using ingredients such as minerals, vitamins, botanicals, herbs, raw fruit and vegetables and oxygen.
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Based on product, global flavored and functional market can be divided as flavored water and functional water. Functional water has various health benefits as it improves immunity and boosts energy and is expected to be witness higher growth compared to flavored water.
Some of the drivers behind the growing demand of flavored and functional water include growing aging population, changing consumer preferences and taste, growing awareness among consumers towards healthy alternatives and wellbeing, increasing urbanization and rising disposable income which allows consumers to spend on premium products, growing obesity rates and changing lifestyles.
Some of the major challenges for the global flavored and functional water market are availability of substitute products at generally similar prices, balance in quantity of flavor, sugar and other ingredients and increasing campaigning against packaged bottles.
Geographically, Asia-Pacific dominated the globamarketl flavored and functional water market in 2014 and the region is expected to witness high growth during the coming years. The flavored and functional water market growth in countries such as China and India is estimated to be high owing to the surging urbanization, changing lifestyle and rise in disposable income.
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Some of the major competitors of flavored and functional water market include The Coca-Cola Company, Groupe Danone, Sunny Delight Beverages Company, PepsiCo Inc., New York Spring Water, Nestle SA., Balance Water Company, Kraft Foods., Aquafina Flavor Splash and Cargill Inc.
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