Please Wait.....
Report
Functional Water Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 147 Pages I Mordor Intelligence
The Global Functional Water Market is projected to witness a CAGR of 7.06% in the upcoming five years.
Functional water is witnessing high market growth as it contains healthy additives, such as vitamins, acids, minerals, herbs, and fruits or vegetables. Post-pandemic, consumers' focus became centered on proper nutritional intake, and a majority of consumers switched toward healthier beverage options, which included vitamin- and mineral-infused functional waters. Moreover, online retail channels are registering higher growth than conventional distribution channels, such as supermarkets and specialty stores, in terms of sales of functional water and are expected to grow during the forecast period. Additionally, the shift in preferences from carbonated and high-sugar beverages is driving demand for the functional water market.
In addition to this, functional water has a wide range of qualities, such as protein-rich functional water, which is essential for the repair and growth of lean muscle and can also aid in promoting a feeling of satiety. Over the forecast period, functional water is expected to develop at a faster pace as a result. The convenience of consumption and its effects on human nutrition are the factors boosting demand in the functional water market. However, with the growing popularity of functional water among the working class and millennial populations, innovative product developments are expected to enhance the market and accelerate its growth over the forecast period.
Functional Water Market Trends
Consumer Preferences Evolving Toward Value-added Hydration Propelling Market Growth
The rapid demand for the consumption of fortified beverages is attributed to the inclusion of essential ingredients, such as protein, amino acids, vitamins, and minerals, in various functional beverages. The introduction of new and innovative types of functional water by beverage manufacturing companies engaged in the production of water using modified blends of protein and minerals is likely to fuel the market's growth. The rise in obese and diabetic populations in the United States, Canada, China, India, Australia, and the United Kingdom, among others, has shifted the focus from carbonated soft drinks to bottled water in the recent past. Research by the International Food Information Council Foundation on Food and Health revealed that in 2021, 47% of their total consumers prefer food with additional nutrients. Therefore, this factor is expected to boost the market's growth.
North America Holds Largest Market Share
The consumption pattern in the North American region is shifting toward food and beverage products infused with healthy and weight management ingredients. The region holds a prominent market share as functional water is such a product. Consumers in the United States have started to develop an interest in beverages that deliver benefits above and beyond simple refreshments, which is also contributing to the expansion of the functional water market.? Moreover, due to increasing health concerns in the Canadian provinces, many domestic and international players are attracted to the opportunistic market, and consumers are getting an ample range of products to choose from, driving the overall North American market.
The market for functional waters is growing because they are cheaper than other RTD beverages, and they come in a variety of packaging options, including containers and single-serve bottles, which makes them more popular with consumers. Due to the increase in demand for functional water, companies are expanding their reach into the market in order to gain a competitive advantage. For instance, in 2021, in order to expand its product portfolio toward functional water, Nestle SA acquired Essentia Water, Bothell, and Wash in the United States as part of its strategic shift towards functional water.
Functional Water Market Competitor Analysis
The functional water market is competitive and is still growing owing to products varying across packaging formats, flavors, and sizes. The market vendors are developing new products with an emphasis on organic and taste variants to increase their market shares and gain traction in the global marketplace. Danone SA, The Coca-Cola Company, Herbal Water, PepsiCo Inc., and Dr. Pepper Snapple are some of the prominent players in the functional water market. Some of the other players include Vitamin Well AB, Triamino Brands LLC, and New York Spring, among others. Balance Water and Herbal Water have marked their position in the market with their unique product portfolio, i.e., water enhanced with wildflowers and organic herbs, respectively. Moreover, regional or domestic companies have been marketing their products with strategies, such as sponsorships and significant investments in advertisements.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Buyers/Consumers
4.3.2 Bargaining Power of Suppliers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Vitamin
5.1.2 Protein
5.1.3 Other Product Types
5.2 Distribution Channel
5.2.1 Hypermarkets/Supermarkets
5.2.2 Specialty Stores
5.2.3 Online Stores
5.2.4 Other Distribution Channels
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 Spain
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East
5.3.5.1 United Arab Emirates
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Most Active Companies
6.3 Company Profiles
6.3.1 The Coca-Cola Co. (Glaceau Smartwater)
6.3.2 PepsiCo Inc. (Soulboost)
6.3.3 Balance Water Company (Balance Water)
6.3.4 Danone SA (Salus, Zywiec Zdroj, Volvic, Aqua, Font Vella, Mizone)
6.3.5 Dr. Pepper Snapple Group Inc. (Canada Dry, Schweppes, Core Hydration, bai)
6.3.6 Function Drinks (function)
6.3.7 Trimino Brands Company LLC (Trimino)
6.3.8 CENTR Brands Corporation (Centr)
6.3.9 Flow Beverage Corp. (Flow)
6.3.10 Disruptive Beverages Inc. (Ayala's Herbal Water)
6.3.11 Nirvana Water Sciences Corp. (Nirvana)
6.3.12 Unique Foods (Perfect Hydration, Icelandic Glacial)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security