The demand for functional and flavored water has strongly been mounting on account of increasing awareness about the benefits of hydration and magnifying concerns over calories in other soft drinks that led to extensive innovation in flavored and functional waters. Flavored water has been a part of bottled water hydration. The flavors have different health benefits, for instance, adding a slice of lemon adds to the nutritional value of the and has disease-fighting benefits. Functional water is a recent addition to the addition and is gaining popularity in the global water hydration market. The various flavors help to satisfy the taste and nutritional demands of consumers.
According to the MarkNtel Advisors’ research report, the CAGR of “Global Flavored and Functional Water Hydration Market Analysis, 2020”, the global market is expected to grow at a CAGR of around 9% to exceed USD 45 billion by 2025. Moreover, the consumers have become environmentally conscious and aware of the harmful effects of single-use plastics. Thus, numerous companies are adopting biodegradable packaging products. Personalization and customization of drinks is an important opportunity that companies should focus on to influence to become attractive in the market. Functional and flavored water are strongly competing against soft drinks and other beverages on the health grounds.
In 2019, more than 35 billion liters of flavored and functional water was consumed across the globe. Europe was the leading region and had the highest market share followed by Asia-Pacific with and North America.
Value Added Hydration Helping in Developing Consumer Preference
The sturdy growth of functional water is majorly attributed due to the inclusion of essential ingredients, such as protein, amino acids, vitamins, and minerals in various functional beverages. On account of surging obese and diabetic populations in the United States, China, India, Australia, and the United Kingdom, among others, has shifted the focus from carbonated soft drinks to bottled water in the recent past. Thus, the companies are engaged in the production of modified blends of protein, minerals, and vitamins by introducing new and innovative types of functional water as revealed by MarkNtel Advisors in their research report, “Global Flavored and Functional Water Hydration Market Analysis, 2020”.
According to the MarkNtel Advisors, the major leading players are Nestle, Danone, Kraft Foods, Coca-cola, New York Spring Water, Pepsico, Hint, Herbal Water, Talking Rain Beverage, Sunny Delight among others. New startups are coming up with innovative technology and sustainable solutions to provide flavored and functional water with the help of water dispensers to reduce the consumption of single-use plastics. Bevi, a Boston-based start-up, invented a smart water dispenser providing customizable flavors using filtered tap water and natural ingredients to reduce plastic waste.
“Global Flavored and Functional Water Hydration Market Analysis, 2020”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors such as trends, drivers, hotspots and opportunities and challenges available for Global Flavored and Functional Water Hydration market providers across the globe. Moreover, the report also encompasses the key leading players in the industry, along with competitive benchmarking and competition matrix and company profiling.
1. By Product Type (Flavored and Functional),
2. By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience stores, Online Retail, Others),
3. By Ingredient Type (Vitamins and Minerals, Botanical Extracts, Amino Acids, Others),
4. By Region (North America, South America, Europe, Middle East and Africa, Asia-Pacific),
5. By Country (United States, Canada, Mexico, Brazil, Germany, Italy, France, Spain, Russia, United Kingdom, UAE, Saudi Arabia, South Africa, China, India, Japan, South Korea, Australia)
6. By company (Nestle, Danon, Kraft Foods, Coca-cola, New York Spring Water, Pepsico, Hint, Herbal Water, Talking Rain Beverage, Sunny Delight)
Key questions answered in the study:
1. What are the current and future trends of the Global Flavored and Functional Water Hydration market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the Global Flavored and Functional Water Hydration market industry?