Functional water market Share, Competitive Landscape, Future Trends and Forecast 2027
Drivers
and Constraints Impacting the Market
The
increasing awareness associated with health plays a major role in the buying
decision of the consumers. In recent days, adverse effects associated with
consumption of carbonated soft drinks has made consumers aware of their
drinking choices. Beverage companies are picking up these trends and are
introducing choices for consumers which comprise water fortified with essential
nutrients. Additionally, with the rising prevalence of vitamin deficiency
diseases, the market for flavored & functional water is considered to
expand considerably during the assessment period.
Functional
water offers health benefits of fortified nutrients, which include herb
extracts, vitamins & minerals, electrolytes, amino acids, and others. With
the increasing number of obesity cases in the developed economies, consumers
are shifting from soft drinks to healthy drinks, which is further estimated to
accelerate the market growth during the appraisal period. The growing tap water
contamination is also driving people to adopt bottled water.
On
the flip side, several protest campaigns initiated against packaging bottles
are considered to dampen the market to a great extent. Moreover, the threat of
substitutes is a longstanding challenge which will continue to hamper the
market growth during the estimated period.
Key
Players
The
prominent players operating in the functional water market Share are
Protein-water. Co (U.K), Eklo Water (Brazil), Nestle S.A. (Switzerland), The
Coca-Cola Company (U.S.), Suntory (Japan), Vieve Protein Water (U.K), Hint.
Inc. (U.S.), PepsiCo Inc (U.S.), and Danone S.A. (France).
Market Segmentation:
The global functional water market
Share has been segmented on the basis of ingredient
type, type, packaging type, distribution channel, and region.
By mode of type, the global functional water market
Share has been segmented into functional and flavored. Among these, the
functional water segment is considered to gain more popularity owing to its
health benefitting properties.
By mode of ingredient type, the global functional
water market Share has been segmented into herbal extracts, vitamins &
minerals, amino acids, and others. Among these, the vitamins & minerals
segment is predicted to dominate owing to the increasing prevalence of
deficiency diseases among the people.
By mode of distribution channel, the global functional
water market Share has been segmented into store and non-store based. The
store-based channel is likely to hold the major share owing to the convenience
of the consumers.
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Regional Analysis
Geographically, the functional water market Share
span across regions namely, Europe, North America, Asia Pacific, and
Rest-of-the-World (RoW).
Among all the regions, North America is presumed to
dominate the functional water market Share during the appraisal period owing to
the increasing number of health-conscious consumers in this region.
Asia Pacific is predicted to grow at a rapid pace due
to rising health awareness among consumers. Also, the increasing awareness of
the benefits of consumption of functional beverages like improved immunity
system is likely to trigger the demand for flavored & functional water
during the appraisal period. Moreover, manufacturers are launching innovative
products are low-calorie and sugarless in content. For instance, NourishCo
Beverages Ltd. launched Himalayan Orchard Pure flavored water in July 2017.
NOTE: Our Team of Researchers
are Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
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