menu
Functional Water Market
Functional Water Market
The global functional water market is expected to witness impressive growth during the forecast period.

The global functional water market is expected to witnessimpressive growth during the forecast period. This was observed in a report,titled "Functional Water Market :Global Market Analysis, Insights and Forecast, 2018-2025". In thereport, Fortune Business Insights predicts the global functional water marketto exhibit a CAGR of 7.4% between 2018 and 2025. The market was valued at US$10.34 Bn in the year 2017 and is estimated to account for a value of US$18.24 Bn by 2025.

Mushrooming supermarkets and hypermarkets worldwide is expected toincrease the sales of functional water in the coming years. Hence, increasingnumber of mass merchandizers will facilitate various functional water brands,subsequently enabling growth in the functional water market. Various bundlingstrategies done at economic pricing are positively impacting the sales ofpopular functional water brands. In addition to this, sales in online, retail,and convenience stores are projected to gain momentum in the forthcoming years.This is primarily due to their greater penetration worldwide and personalizedpurchasing experience that they offer. Impressive performance exhibited acrossdistribution channels is identified as a chief growth driver.

Among ingredients, micronutrients are anticipated to emergedominant as enhanced waters are generally micronutrients-fortified. However, inthe coming years the market is expected to witness increasing inclinationtowards plant-based ingredients. These ingredients offer numerous healthbenefits and are accepted across the world. 

Rising Prevalence of Diabetes and Obesity Impels Consumers to BuyLow-Calorie Drinks

According to a study conducted by the World Health Organization(WHO), obesity is likely to affect nearly 70 million children by 2025. Therising prevalence of obesity and the risks associated with it have impelledconsumers to shift to low-calorie drinks. This is projected to boost thefunctional water market during the forecast period, 2018-2025. Furthermore, therising geriatric population across the world and increasing prevalence ofdiabetes are the major driving forces for the functional water market.Consumers are actively shifting their preferences from alcoholic drinks tohealthy and nutritional drinks as they are becoming more health-conscious. Thiswill further offer support expansion of the market

"The demand for functional water is increasing in response tothe rise in income levels, especially among the urban population," said alead analyst at Fortune Business Insights. "The wider availability ofpackaged drinking water in different flavors is expected to further increasethe demand among consumers," he added. The functional water oraquaceutical is rich in minerals, vitamins, and botanicals offering severalfunctional benefits. It helps to boost energy and improves immunity.Considering the above factors, the demand for functional water is expected toincrease, driving the global functional water market between 2018 and 2025.

Among regional markets, North America is expected toemerge dominant on account of rising prevalence of obesity, especially amongyoung generation in the U.S. Other regions are projected to grow substantiallyduring the forecast period.

Mounting Cost of Functional Water May Hamper the Growth of theMarket

The high cost associated with the functional water may restrictthe growth of the functional water market. A major section of people amongconsumers in emerging and underdeveloped nations prefer simple or plainpackaged water. This, coupled with the availability of alternatives in healthdrinks may lower the demand for functional water. The bargaining power ofcustomers has increased owing to the high availability of other packaged watersand their low switching costs. Fortune Business Insights predicts that thesefactors may inhibit the growth of the functional water market in the comingyears.

Functional Water Market is Highly Concentrated with the Presenceof International and Domestic Players

The global functional water market is currently witnessing intensecompetition with the presence of several players. Moreover, renowned functionalwater brands are continuously focusing on improving the quality of functionalwater products they offer. For instance, Danone S.A. is channelizing itsefforts towards developing markets of Asia Pacific. The company expectsdouble-digit growth in their functional water sales, particularly in countriessuch as China, India, and Indonesia. Such strategies areexpected to have a positive impact on the market. Some of the other companiespresent in the global functional water include Nestle S.A., Nirvana Water,Allure Organics, Dr. Pepper Snapple Group Inc., and Tata Global Beverages.

Browse Complete Report Details Enabled with Complete Tables andFigures is Available:

https://www.fortunebusinessinsights.com/industry-reports/functional-water-market-100279