Europe region is the most dominating region for Functional Water Market

Posted by michael on June 13th, 2019

Functional Water Market Size and Growth Rate:

The Functional Water Markets expected to exceed USD XX billion by 2023 and grow at a compound annual rate of 8.5% from 2018 to 2023.

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Functional Water Market Overview:

Functional water is an alcohol-free beverage that is modified by adding additional ingredients to provide health and other benefits. The most used ingredients, added to water to turn it into functional water, include vitamins, minerals, acids, herbs and raw fruits and vegetables.

The functional water market is booming with the changing consumption habits more and more, the preference has shifted from sugar-rich soft drinks to functional and flavored water. The functional water market is expected to grow during the forecast period due to the growing demand from health conscious consumers.

Functional Water Market Growth Drivers and Restraints:

The size of the functional water market is increasing in relation to the non-alcoholic beverage market and the maturity of the soft drink market. Increasing consumer preference for healthy alternatives and high nutritional value drinks should boost the market. It provides healthy hydration while providing refreshments and health benefits to the consumer. Consumers concerned about health should have a domino effect on the demand for water-based products. The functional water market is not only driven by growing health problems, but leading brands also aim to provide functional water with additional benefits for the skin, which should support growth of the overall market. The main manufacturers of functional water must offer diverse natural products, which contain vitamin C, vegetable substances and antioxidants, for the exclusive market of these products.

The main limitation for this market is its variation in costs. As a general rule, consumers prefer packaged or non-conditioned liquids. In addition, the availability of many alternatives for healthy beverages and lower demand in the niche soft drink sector reduces demand for the product. The bargaining power of the client has increased due to the availability of many alternatives and the low costs of change. The increase in protests against bottled bottles and greater environmental protection will have a negative impact on the growth of the world market.

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Functional Water Market Geographical Segmentation:

Of all the global regions, Western Europe is expected to dominate the functional water market, in terms of turnover, and is also expected to grow at the highest level of the CAGR, followed by North America. Asia-Pacific and Latin America markets are at nascent stage, but the region has potential to grow at higher pace as compared to other developed regions due to changing eating habits, and growing urban population and increasing disposable income of the huge middle-class population.

Key Players of the Functional Water Market:

Key players of functional water market are PepsiCo, Coca Cola, Dr Pepper Snapple, Nestle, Group Danone, Hind, Sunny Delight Beverages and Kraft Foods. Companies are adding vitamins and natural sweeteners to enhance the quality of product.

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Kevin Stewart

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Joined: April 4th, 2019
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