Functional Water Market Share | Segments, Industry Development, Business Opportunities and Forecast to 2023

Market Research Future estimated that the global flavored and functional water market is set to attain a noteworthy growth trends during the forecast period.

Drinks with functional benefits, less sweet options, and products with sustainability features are just a few examples of growing trends. With globalization, a growing variety of flavors and special editions are available, including inclusions, vegetables, and herbs. Consumer hunger for healthy, tasty, and functional beverages has fueled the flavored water market. Interest in new combinations of unusual flavors, trendy herbal infusions, and energy- and wellness-promoting ingredients is transforming an ever-changing competitive marketplace.

The spur in the number of health-centric consumers around the globe are shifting their preference from sugar-rich sodas to healthy functional drinks. Functional water offers health benefits from enriched nutrients, including vitamins and minerals, herbal extracts, amino acids, electrolytes, and others. An increasing number of obesity cases in developed countries are forcing consumers to find healthy sodas. In addition, the increasing pollution of tap water is forcing people to adopt bottled water. Flavored water contains fruit extract, natural or artificial flavors, sweeteners, raw fruits and offers a soft drink soda.

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With a rising count of people picking flavored water over conventional carbonated soft drinks, the global market is expected to witness a sharp positive shift in the demand. Consumers stay away from sodas and other sugary drinks for better health. These trends lead to a sharp rise in beverage consumption, and the industry has responded by introducing a diverse range of healthy products with powerful fruit flavors and unique ingredients.

Consumers are looking for new and refreshing options that won't harm the taste. Focus on clean, natural flavor is at the core of many successful brands. Many consumers see products with clean labels that claim to taste different from traditional products. The type of market is segmented into flavored water and functional water. Functional water is gaining popularity. Amino acid-enriched water is the best substitute for protein and lactose based products. Also, they are a source of practical nutrition.

Market Players

The leading player involved in the growth of the global functional water market Share with their Vieve Protein Water, Suntory, Proteinwater.Co, Eklo Water, Hint. Inc., PepsiCo, Inc, The Coca-Cola Company, and Nestle S.A. Manufacturers present in FMCG industry and those dealing with innovation in flavors and enhanced nutrient contains in the functional water have lucrative opportunities to stay competitive in the global, while meeting the demand.

Market Segmentation

The global market is segregated by type, ingredient type, distribution channel, and packaging type.

The type-based segment is bifurcated into functional and flavored. The functional water segment is predicted to gain popularity with its health benefits.

The market is segmented by ingredient type into vitamins and minerals, herbal extracts, amino acids, and so on. The segment of vitamins and minerals is expected to be dominant due to the increasing prevalence of disability diseases in the population.

The market is segmented into stores and no-stores based on the distribution channel. The store segment is expected to have significant participation and attractive demand owing to e-commerce penetration.

Regional Outlook

Geographically, North America is likely to influence the global flavored and functional water market over the forecast period due to the growing number of health-conscious consumers. The market should come second because of the presence of the region's leading manufacturers and the launch of innovative products backed by substantial announcements.

Other regions, such as Asia Pacific, the Middle East, and Europe, are expected to grow due to the increasing popularity of functional beverages and the availability of enhanced flavors driven by leading manufacturers.

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