Fortune Business Insights foresees the global functional water market to reach a value of US$ 18.24 Bn from US$ 10.34 Bn with a CAGR of 7.4% between 2018 and 2026. The detailed information about functional water market and what all factors help to propel and hinder the market. The report is titled, “Functional Water Market Size, Share and Global Trend by Ingredient (Micronutrients, Botanical Extracts), Distribution Channel (Supermarkets/ Hypermarkets, Convenience Stores, Online Retail) & Geograph5y Forecast till 2025.”
List of key companies mentioned in functional water market report;
- PepsiCo
- Nirvana Water
- The Coca-Cola Company
- The Alkaline Water Co.
- Groupe Danone
- Tata Global Beverages
- Dr Pepper Snapple Group Inc.
- Allure Organics, Nestle S.A, among others.
According to the report, the market is anticipated to be dominated by mass merchandizers including both supermarkets and hypermarkets with respect to segmentation by distribution channels.
This is owing to the variety, distribution, and accessibility of enhanced water that other stores may not be able to fulfil all at once. In addition to that, the economic pricing and bundling strategy are also adding boost to the global market for functional waters.
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Asia Pacific to Exhibit Fastest Growth Rates with Rising Awareness about Healthy Lifestyle and Food Habits
Fortune Business Insights foresees North America to dominate the market for functional waters. This is because of the rapid growth and expansion of this market in the U.S. Currently, bottled water sales rate has exceeded soft drinks and this is further propelling the players in the market to invest more and expand their functional offerings.
On the other hand, the functional water market in Asia Pacific is anticipated to witness significant growth rate in the forecast period. This is owing to the specialty offerings
and rising awareness about the benefits of functional water that encouraging people to opt for functional waters and ultimately helping this to emerge as a recognizable category in near future.
Due to the rising health concerns and running trend of healthy eating and healthy living, consumers are more inclined towards taking alternative for soft drinks and carbonated drinks. The introduction of functional waters in such areas is likely to bring lucrative growth opportunities for the market during the forecast period.
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Rising Obese Population and their Changing Preference Towards Functional Water – A Major Driver for Market
Functional water comes under non-alcoholic beverages and offers health benefits as well. The change in food and beverage consumption habits and the switch from food and drinks with low sugar or carbonated content is anticipated to boost the global market. Health conscious consumers are anticipated to be huge contributors to the functional water market.
The rising population of obese people is further augmenting various diseases that comes with it such as diabetes, liver problems, cardiac problems, and others. Therefore, it is essential for obese people to keep check on their food and beverage intake. This, in turn, is propelling the demand for functional water as they come as an alternative for carbonated and flavored water. The above factor can be a major boost for the global functional water market in the coming years.
Major Segments of Functional Water Market are
By Ingredient
- Micronutrients
- Botanical Extracts
- Other Functional Ingredients
By Distribution Channel
- Supermarkets/ Hypermarkets
- Convenience Stores
- Online Retail
- Others
By Geography
Increasing population of obese people and their related illnesses, and their changing priority towards a healthy lifestyle and eating habits is another major factor boosting the market for functional water. In addition to that, the market is witnessing huge demand because of the ingredients used in functional water which is plant-based and all-natural. Functional water is gaining recognition and are accepted because of their health benefits. This is further anticipated to bring lucrative growth opportunities for the market in future.
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Major Table of Content
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Overview of the Parent/Related Markets
4.2. Value Chain Analysis
4.3. Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
5. Global Functional Water Market Analysis, Insights and Forecast, 2014-2025
Toc Continued……!
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