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Global Functional Water Market by Product (Flavored Functional Water, Unflavored Functional Water), Type (Botanicals, Minerals, Oxygen), Packaging, Distribution Channel - Forecast 2023-2030

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    Report

  • 185 Pages
  • March 2024
  • Region: Global
  • 360iResearch™
  • ID: 5715610
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The Functional Water Market size was estimated at USD 16.95 billion in 2022, USD 18.71 billion in 2023, and is expected to grow at a CAGR of 11.29% to reach USD 39.91 billion by 2030.

Functional water is an enhanced beverage modified to provide additional benefits beyond basic hydration with added vitamins, minerals, and herbs to support specific health claims and improve overall well-being. The demand for functional water is increasing to address particular health concerns, boost energy levels, improve mental performance, aid in weight loss, and support various other aspects of a healthy lifestyle. Functional waters have increasingly become the preferred hydration choice for athletes and sportspersons for multiple reasons, including improved athletic performance, enhanced recovery, targeted nutrient delivery, and overall health benefits. Functional water is often fortified with vitamins and minerals essential for maintaining energy levels and combating oxidative stress caused by intense workouts. Using premium components such as vitamins, minerals, electrolytes, antioxidants, botanical extracts, and probiotics causes higher prices of functional water due to limited sources or complex extraction methods. In addition, the inefficient recycling processes, pollution from the manufacturing and transportation of plastic bottles, and contamination issues during recycling poses environmental concerns related to recycling functional water bottles, negatively impacting the growth of the functional water market. However, introducing eco-friendly materials and biodegradable plastics with minimalistic packaging designs has expanded customer preference toward functional water portfolios. Moreover, functional water manufacturers are increasingly focusing on deploying their offerings on eCommerce platforms to enhance brand visibility, customer reach, and overall business performance, further improving the availability of novel products worldwide.

Regional Insights

The increasing consumer awareness toward energy-boosting capabilities and vitamin content, penetration of convenient on-the-go beverages, and ongoing novel product development have expanded the demand for functional water products in the Americas. The government standards in the Americas ensure the safety and efficiency of functional water. The rapid growth in sport participation activities, significant penetration of eCommerce platforms, and introduction of botanicals in the product portfolios have supported the development and distribution of functional water in the Asia-Pacific region. The functional water market in Europe, the Middle East, and the African region is evolving due to the increasing customer preference for healthier beverages and manufacturers’ focus on developing innovative functional beverages. Government standards ensuring nutrient levels, labeling, and safety assessment procedures for novel ingredients have standardized the functional water market in the EMEA.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Functional Water Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Functional Water Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Functional Water Market, highlighting leading vendors and their innovative profiles. These include Actiph Water Ltd, Agropur cooperative, Alkaline88, LLC, Bisleri International Pvt. Ltd., CENTR Brands Corp., Cloud Water Brands, Danone S.A., Disruptive Beverages, Inc., EARI Group, Flow Beverage Corp., Function Drinks, Gujarat Ion Exchange And Chemicals Limited, Hint Inc., HOW Water Houston, LP., JUST Goods, Inc., Karma Culture LLC, Keurig Dr Pepper, Inc., Kure Ltd., Langenburg Oxygen Water, Miami Bay Beverage Company LLC, Nestle S.A., Nirvana Water Sciences Corp., Nongfu Spring Co., Ltd., NYSW Beverage Brands, Inc., OHMG Brands Ltd, Oxigenesis, Inc., PepsiCo, Inc., Petal Beverage, LLC, Protein2o Inc., San Benedetto S.p.A., Tata Consumer Products Limited, The Coca-Cola Company, The Lemon Perfect Company, Unique Foods Canada, Waterman Engineers Australia, and WET Holdings (Global) Ltd.

Market Segmentation & Coverage

This research report categorizes the Functional Water Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Product
    • Flavored Functional Water
    • Unflavored Functional Water
  • Type
    • Botanicals
    • Minerals
    • Oxygen
    • Proteins
    • Vitamins
  • Packaging
    • Can
    • PET Bottles
  • Distribution Channel
    • Offline
      • Convenience Stores
      • Specialty Stores
      • Supermarket/Hypermarket
    • Online
  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

The report offers valuable insights on the following aspects

  1. Market Penetration: It presents comprehensive information on the market provided by key players.
  2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
  3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
  4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
  5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as

  1. What is the market size and forecast of the Functional Water Market?
  2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Functional Water Market?
  3. What are the technology trends and regulatory frameworks in the Functional Water Market?
  4. What is the market share of the leading vendors in the Functional Water Market?
  5. Which modes and strategic moves are suitable for entering the Functional Water Market?

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This report also includes a complimentary Excel file with data from the report for purchasers at the Site License or greater level.

Table of Contents

1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders
2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Functional Water Market, by Region
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Rising health consciousness among the consumers worldwide
5.1.1.2. Increased consumption by athletes and fitness enthusiasts
5.1.2. Restraints
5.1.2.1. High cost of functional water and incidences of product recall
5.1.3. Opportunities
5.1.3.1. Celebrity endorsements and advancements in packaging material
5.1.3.2. Increasing availability on eCommerce platforms
5.1.4. Challenges
5.1.4.1. Environmental concerns associated with recycling of bottles
5.2. Market Segmentation Analysis
5.2.1. Product: Ability of various flavored water products to cater to diverse consumer preferences
5.2.2. Type: Nutritional benefits of functional water driving consumption of various functional water products
5.2.3. Packaging: Various packaging materials to support the storage requirements of flavored water
5.2.4. Distribution channel: Availability of various flavored water products through rising number of distribution channels
5.3. Market Trend Analysis
5.3.1. Growing customer preference for premium and health-beneficial water products in the Americas
5.3.2. Development of novel functional water products coupled with increasing availability on eCommerce platforms across the Asia-Pacific region
5.3.3. Well-established standards and collaborative strategies to expand the consumer base of functional beverages in the EMEA region
5.4. Cumulative Impact of COVID-19
5.5. Cumulative Impact of Russia-Ukraine Conflict
5.6. Cumulative Impact of High Inflation
5.7. Porter’s Five Forces Analysis
5.7.1. Threat of New Entrants
5.7.2. Threat of Substitutes
5.7.3. Bargaining Power of Customers
5.7.4. Bargaining Power of Suppliers
5.7.5. Industry Rivalry
5.8. Value Chain & Critical Path Analysis
5.9. Regulatory Framework
6. Functional Water Market, by Product
6.1. Introduction
6.2. Flavored Functional Water
6.3. Unflavored Functional Water
7. Functional Water Market, by Type
7.1. Introduction
7.2. Botanicals
7.3. Minerals
7.4. Oxygen
7.5. Proteins
7.6. Vitamins
8. Functional Water Market, by Packaging
8.1. Introduction
8.2. Can
8.3. PET Bottles
9. Functional Water Market, by Distribution Channel
9.1. Introduction
9.2. Offline
9.3.1. Convenience Stores
9.3.2. Specialty Stores
9.3.3. Supermarket/Hypermarket
9.3. Online
10. Americas Functional Water Market
10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States
11. Asia-Pacific Functional Water Market
11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam
12. Europe, Middle East & Africa Functional Water Market
12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom
13. Competitive Landscape
13.1. FPNV Positioning Matrix
13.2. Market Share Analysis, By Key Player
13.3. Competitive Scenario Analysis, By Key Player
13.3.1. Merger & Acquisition
13.3.1.1. Smart Soda Announces Global Launch Mergers and Acquisitions
13.3.1.2. EARI Beverage Group Acquires Blossom Botanical Water Brand
13.3.2. Agreement, Collaboration, & Partnership
13.3.2.1. The Alkaline Water Company Expands Production with AZ Custom Bottled Water, LLC
13.3.3. New Product Launch & Enhancement
13.3.3.1. Lemon Perfect Introduces Refreshing Twist to Lineup with New Watermelon Flavor
13.3.3.2. vitaminwater Introduces Two New Flavors and Innovative Reformulation of Zero Sugar Lineup
13.3.3.3. Centr and Kyowa Hakko Launch Functional Water
13.3.3.4. CENTR Brands Announces New Online Store & Launch of CENTR Enhanced Functional Sparkling Water
13.3.3.5. Karma Water Debuts Direct-To-Consumer Hydration Kits
13.3.3.6. Flow Beverage Corp. Launches Vitamin-Infused Water in Three Delicious Flavors
13.3.3.7. Nirvana Water Sciences Introduces New Functional Water
13.3.3.8. OHMG Revamps Functional Water Range to Contain Three Types of Magnesium
13.3.4. Investment & Funding
13.3.4.1. Lurgan's Classic Mineral Water to Invest GBP 3.4 Million, Creating 16 Jobs
13.3.4.2. Liquid Death Raises USD 75 Million in Funding Round that Values Water Brand at More Than USD 500 Million
14. Competitive Portfolio
14.1. Key Company Profiles
14.1.1. Actiph Water Ltd
14.1.2. Agropur cooperative
14.1.3. Alkaline88, LLC
14.1.4. Bisleri International Pvt. Ltd.
14.1.5. CENTR Brands Corp.
14.1.6. Cloud Water Brands
14.1.7. Danone S.A.
14.1.8. Disruptive Beverages, Inc.
14.1.9. EARI Group
14.1.10. Flow Beverage Corp.
14.1.11. Function Drinks
14.1.12. Gujarat Ion Exchange And Chemicals Limited
14.1.13. Hint Inc.
14.1.14. HOW Water Houston, LP.
14.1.15. JUST Goods, Inc.
14.1.16. Karma Culture LLC
14.1.17. Keurig Dr Pepper, Inc.
14.1.18. Kure Ltd.
14.1.19. Langenburg Oxygen Water
14.1.20. Miami Bay Beverage Company LLC
14.1.21. Nestle S.A.
14.1.22. Nirvana Water Sciences Corp.
14.1.23. Nongfu Spring Co., Ltd.
14.1.24. NYSW Beverage Brands, Inc.
14.1.25. OHMG Brands Ltd
14.1.26. Oxigenesis, Inc.
14.1.27. PepsiCo, Inc.
14.1.28. Petal Beverage, LLC
14.1.29. Protein2o Inc.
14.1.30. San Benedetto S.p.A.
14.1.31. Tata Consumer Products Limited
14.1.32. The Coca-Cola Company
14.1.33. The Lemon Perfect Company
14.1.34. Unique Foods Canada
14.1.35. Waterman Engineers Australia
14.1.36. WET Holdings (Global) Ltd.
14.2. Key Product Portfolio
15. Appendix
15.1. Discussion Guide
15.2. License & Pricing
List of Figures
FIGURE 1. FUNCTIONAL WATER MARKET RESEARCH PROCESS
FIGURE 2. FUNCTIONAL WATER MARKET SIZE, 2022 VS 2030
FIGURE 3. FUNCTIONAL WATER MARKET SIZE, 2018-2030 (USD MILLION)
FIGURE 4. FUNCTIONAL WATER MARKET SIZE, BY REGION, 2022 VS 2030 (%)
FIGURE 5. FUNCTIONAL WATER MARKET SIZE, BY REGION, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 6. FUNCTIONAL WATER MARKET DYNAMICS
FIGURE 7. FUNCTIONAL WATER MARKET SIZE, BY PRODUCT, 2022 VS 2030 (%)
FIGURE 8. FUNCTIONAL WATER MARKET SIZE, BY PRODUCT, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 9. FUNCTIONAL WATER MARKET SIZE, BY TYPE, 2022 VS 2030 (%)
FIGURE 10. FUNCTIONAL WATER MARKET SIZE, BY TYPE, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 11. FUNCTIONAL WATER MARKET SIZE, BY PACKAGING, 2022 VS 2030 (%)
FIGURE 12. FUNCTIONAL WATER MARKET SIZE, BY PACKAGING, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 13. FUNCTIONAL WATER MARKET SIZE, BY DISTRIBUTION CHANNEL, 2022 VS 2030 (%)
FIGURE 14. FUNCTIONAL WATER MARKET SIZE, BY DISTRIBUTION CHANNEL, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 15. AMERICAS FUNCTIONAL WATER MARKET SIZE, BY COUNTRY, 2022 VS 2030 (%)
FIGURE 16. AMERICAS FUNCTIONAL WATER MARKET SIZE, BY COUNTRY, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 17. UNITED STATES FUNCTIONAL WATER MARKET SIZE, BY STATE, 2022 VS 2030 (%)
FIGURE 18. UNITED STATES FUNCTIONAL WATER MARKET SIZE, BY STATE, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 19. ASIA-PACIFIC FUNCTIONAL WATER MARKET SIZE, BY COUNTRY, 2022 VS 2030 (%)
FIGURE 20. ASIA-PACIFIC FUNCTIONAL WATER MARKET SIZE, BY COUNTRY, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 21. EUROPE, MIDDLE EAST & AFRICA FUNCTIONAL WATER MARKET SIZE, BY COUNTRY, 2022 VS 2030 (%)
FIGURE 22. EUROPE, MIDDLE EAST & AFRICA FUNCTIONAL WATER MARKET SIZE, BY COUNTRY, 2022 VS 2023 VS 2030 (USD MILLION)
FIGURE 23. FUNCTIONAL WATER MARKET, FPNV POSITIONING MATRIX, 2022
FIGURE 24. FUNCTIONAL WATER MARKET SHARE, BY KEY PLAYER, 2022

Companies Mentioned

  • Actiph Water Ltd
  • Agropur cooperative
  • Alkaline88, LLC
  • Bisleri International Pvt. Ltd.
  • CENTR Brands Corp.
  • Cloud Water Brands
  • Danone S.A.
  • Disruptive Beverages, Inc.
  • EARI Group
  • Flow Beverage Corp.
  • Function Drinks
  • Gujarat Ion Exchange And Chemicals Limited
  • Hint Inc.
  • HOW Water Houston, LP.
  • JUST Goods, Inc.
  • Karma Culture LLC
  • Keurig Dr Pepper, Inc.
  • Kure Ltd.
  • Langenburg Oxygen Water
  • Miami Bay Beverage Company LLC
  • Nestle S.A.
  • Nirvana Water Sciences Corp.
  • Nongfu Spring Co., Ltd.
  • NYSW Beverage Brands, Inc.
  • OHMG Brands Ltd
  • Oxigenesis, Inc.
  • PepsiCo, Inc.
  • Petal Beverage, LLC
  • Protein2o Inc.
  • San Benedetto S.p.A.
  • Tata Consumer Products Limited
  • The Coca-Cola Company
  • The Lemon Perfect Company
  • Unique Foods Canada
  • Waterman Engineers Australia
  • WET Holdings (Global) Ltd.

Methodology

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