Health and diet are gaining significant importance among consumers across the globe. Among different drinks such as carbonates, alcohol, tea, and others available in the market, water as an alternative to thirst as well as a refreshing drink has gained momentum back. Owing to increasing obesity and high sugar concerns among consumers and a budding taste for beverages, demand for such drinks is anticipated to gain momentum in the forthcoming years.
Also, technological advancements in packaging, consumer demand for natural ingredients, added nutritional content, natural food colors, and others are propelling the flavored and functional water market’s growth. Also, robust research regarding the development of multi-functional products with both functional and flavor benefits is fueling the market growth.
The flavoring and functional water market are anticipated to record the highest growth in Asia Pacific. Factors such as rising health consciousness among consumers, growing disposable income leading to changes in consumer lifestyles, and increasing availability of flavored and functional water products are fueling market growth in the region. However, the availability of other beverages and consumer preferences for a particular taste might restrict the market growth.
In order to mitigate the challenges, companies in the functional and flavored water market are, among other things, developing products with taste variants, improved packaging, cost-effective pricing, and increasing marketing campaigns for premium-priced flavored and functional water products. In addition, countries such as India, Brazil, and Mexico are being targeted as target markets because they are anticipated to contribute significantly to the overall growth of the flavored and functional market.
The global flavored and functional water market is segmented on the following basis:
- Flavored Water
- Functional Water
- Convenience Stores
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
Key players identified for the flavored and functional water market include, but are not limited to:
Hint Water, PepsiCo, Herbal Water, Nestle Water, Groupe Danone, Balance Water Company, The Coca-Cola Company, Kraft Foods, New York Spring Water, and Sunny Delight Beverages Company
This report offers:
- An overview of the global markets for flavored and functional water
- Market trends assessment for the period 2013-2023, with historical information for 2013 and 2014 and projections through 2023, with respective CAGRs during 2016 and 2023
- Qualitative assessment tools such as market drivers, challenges, and future prospects for flavored and functional water
- Market competition scrutiny tools such as market share analysis, fractal map assessment, and attractive investment proposition
- Focus on each level of market segmentation based on product approvals, launches, and current and anticipated market dynamics.
- A general overview of the industry structure
- Company profiles highlight key information about the major players operating in the flavored and functional water market.