Frequently Asked Questions
The global flavored and functional water market was valued at USD 50.3 Billion in 2022.
The flavored and functional water market is expected to grow at a CAGR of 12.20% between 2023 and 2030, reaching USD 112.6 Billion in 2030.
Flavored water category is the leading segment by product type, holding over 57% share in terms of value in 2022.
The hypermarkets/supermarkets segment governs the demand for flavored and functional water in the world, holding a massive share of over 30% in 2022.
The convenience stores segment is expected to post the highest CAGR during the forecast period.
Asia Pacific is fueling the growth of the flavored and functional water industry, with over one-third share in 2022.
The top players include Groupe Danone, Nestle SA, The Coca-Cola Company, PepsiCo, Hint Water, New York Spring Water, Balance Water Company, Kraft Foods, and Sunny Delight Beverages Company.
The demand for flavored and functional water is driven by consumers’ growing health consciousness and understanding of the value of staying hydrated. Additionally, rising disposable incomes and consumers’ willingness to spend on pricier, healthier beverages fuel market expansion.
The availability of rival products at usually comparable pricing, a balance between flavor, sugar, and other substances, and escalating campaigns against packaged bottles are key obstacles facing the global flavored and functional business.
The global market for flavored and functional water will continue to have growth prospects due to rising demand from emerging regions and rising disposable income.