The functional water global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Functional Water Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The functional water market size has grown strongly in recent years. It will grow from $8.57 billion in 2023 to $9.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to increased awareness of hydration, fitness and sports enthusiast market, shift towards sugar-free beverages, rise in lifestyle-related health issues, urbanization and busy lifestyles, innovative packaging solution, increased consumer education, environmental sustainability.
The functional water market size is expected to see strong growth in the next few years. It will grow to $12.33 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to rising demand for functional ingredients, growing focus on immune health, expansion of online retail channels, advancements in nutraceutical research, integration of adaptogens and botanicals, expansion of specialty retailers, focus on hydration in sports nutrition. Major trends in the forecast period include hydration with added benefits, low-calorie and sugar-free options, electrolyte-enhanced waters, collaborations and limited editions, cbd-infused functional water, digital marketing and e-commerce.
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Scope Of Functional Water Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Functional Water Market Overview
Market Drivers –
The increasing prevalence of obesity is driving the growth of the functional water market. Obesity is a complex disease characterized by an excess of body fat that raises the risk of developing other diseases and health issues, such as heart disease, diabetes, high blood pressure, and certain cancers. Because of the widespread prevalence of obesity, functional water is being used as a dietary means for weight loss and overweight or obesity prevention. For instance, according to the World Health Organization (WHO), an international public health agency, over 1 billion people globally are obese currently (2022), of that, 650 million are adults, 340 million are youth and 39 million are children. By 2025, around 167 million people; adults and children will become less healthy as they will be overweight or obese. Therefore, the increasing prevalence of obesity is expected to propel the growth of the functional water market in the forecast period.
Market Trends –
Product innovation is a key trend gaining popularity in the functional water market. Major market players are developing innovative functional water products such as water with science-backed benefits to sustain their position in the functional water market. For instance, in March 2022, Nirvana Water Sciences Corp, a US-based company engaged in developing life-enhancing beverages by combining pure water, innovations of science, and care for the environment introduced a new innovative functional water ‘Nirvana HMB + Vitamin D3’ spring water. Nirvana HMB + Vitamin D3 spring water is a functional beverage with combined science-backed benefits. Nirvana HMB + Vitamin D3 boasts powerful benefits by combining muscle recovery and immunity. The new product combined with HMB, and Vitamin D3 improves its effectiveness, resulting in a powerful synergistic effect. A winning combination can be achieved when consumers integrate the immunity-boosting benefits of Vitamin D3 with the optimization of delivery in water. It is innovative functional water for all types of consumers.
The functional water market covered in this report is segmented –
1) By Product Type: Vitamin, Protein, Other Product Types
2) By Packaging: Pet Bottles, Can, Other Packaging
3) By Distribution Channel: Hypermarkets Or Supermarkets, Specialty Stores, Online Stores, Other Distribution Channels
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Regional Insights –
North America was the largest region in the functional water market share in 2023. The regions covered in the functional water market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the functional water market report are Danone, The Coca-Cola Company, Pepsico Inc., Dr. Pepper Snapple Vitamin Well AB, Trimino Brands LLC., NYSW Beverage Brands Inc., Herbal Water, Vichy Catalan Corporation, San Benedetto, Unique Foods, Nestle SA, Hint Water, Balance Water Company, Sunny Delight Beverages Company, Hind Water, Kraft Foods, Function Drinks, Bridgepoint Group plc., Disruptive Beverages Inc., Keurig Dr Pepper Inc., CENTR Brands Corporation, Flow Beverage Corp, Ayala’s Herbal Water, Nirvana Water Sciences Corp, Talking Rain Beverage Company, The Alkaline Water Company Inc., Wtrmln Wtr, HFactor, Penta Water Company, AquaHydrate Inc, Propel Water, Gatorade
Table of Contents
1. Executive Summary
2. Functional Water Market Report Structure
3. Functional Water Market Trends And Strategies
4. Functional Water Market – Macro Economic Scenario
5. Functional Water Market Size And Growth
…..
27. Functional Water Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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