Functional Water Market to surpass $12 Bn by 2032, Says Global Market Insights Inc.
Major functional water market participants include he Coca-Cola Company, PepsiCo, Inc., Danone S.A, Nestlé Water, Bai Brands LLC, Karma Culture LLC, Essentia Water LLC, and Neuro Brands LLC.
Selbyville, Delaware, Sept. 11, 2023 (GLOBE NEWSWIRE) --
The functional water market valuation is anticipated to be worth USD 12 billion by 2032 as reported in a research study by Global Market Insights Inc.
The market growth is driven by increasingly health-conscious consumers seeking enhanced hydration experiences. Heightened awareness regarding the importance of hydration, coupled with a growing preference for healthier beverage options, has spurred the demand for functional water. Consumers, now more than ever, are actively seeking beverages that not only quench their thirst but also offer added benefits such as electrolyte replenishment, vitamins, and minerals. Additionally, the increased emphasis on active lifestyles and wellness regimens has resulted in a surge in demand for products that cater to post-exercise recovery and vitality. The rising prevalence of lifestyle-related health concerns has ignited interest in functional waters tailored to specific needs, such as immunity boosting, stress reduction, and cognitive enhancement, favoring the industry growth.
The functional water market from the energy-enhanced water segment is predicted to witness substantial growth through 2032, owing to the innovations in the market. As consumers increasingly prioritize mental alertness and physical vigor, the demand for energy-boosting beverages has grown significantly. Manufacturers have responded by infusing functional waters with natural ingredients like caffeine, ginseng, and adaptogens that deliver sustained energy without the jitters associated with traditional energy drinks. These products not only provide a refreshing hydration experience but also offer the added advantage of heightened cognitive function and sustained vitality throughout the day. With companies leveraging cutting-edge research to develop formulations that cater to different energy needs, the consumers will have access to a diverse range of energy-enhancing functional water options in the coming future.
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Pouches packaging segment of functional water market is expected to grow at a robust pace through 2032. Pouches offer several advantages over traditional packaging formats, including reduced material usage, enhanced portability, and a lower carbon footprint. The convenience of pouches aligns seamlessly with the on-the-go lifestyle of modern consumers, making them an ideal choice for functional water products. Additionally, pouches provide ample space for creative branding and design, allowing companies to convey their commitment to sustainability and wellness through innovative packaging aesthetics. The presentation innovation, in consort with the convenience are boosting the pouches market share.
Europe functional water market will gain remarkable momentum during the forecast timeline, marked by its unique blend of health-conscious consumers and diverse beverage preferences. Consumers in Europe have exhibited a strong affinity for functional beverages that align with their sustainability values and dietary choices. This has spurred the demand for organic and plant-based functional water products, catering to the increasing number of individuals adopting vegetarian and vegan lifestyles. Furthermore, regulatory frameworks promoting healthy beverages have encouraged manufacturers to invest in R&D, leading to a proliferation of innovative functional water offerings. The regulatory support, and introduction of innovating products are favoring the market outlook in Europe.
Some of the major players in the functional water market are Karma Culture LLC, The Coca-Cola Company, Danone S.A, PepsiCo, Inc., Essentia Water LLC, Nestlé Water, Neuro Brands LLC, and Bai Brands LLC. As the market continues to evolve, companies are compelled to create products that not only deliver hydration but also align with the multifaceted wellness aspirations of consumers worldwide.
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For instance, in June 2023, Essentia Water®, pioneering the realm of ionized alkaline water in the United States, announced its plan for expansion by reaching Canadian shores. With a track record of triumph in the U.S., where it has claimed the top spot as the preferred alkaline water brand and emerged as the leading bottled water choice in the natural channel*, Essentia® is poised to replicate this success in Canada.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Functional water market 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Product trends
2.4 Flavor trends
2.5 Packaging trends
2.6 End-use trends
2.7 Distribution Channel trends
2.8 Regional trends
Chapter 3 Functional Water Market Insights
3.1 Industry ecosystem analysis
3.1.1 Distribution channel analysis trends
3.1.2 Vendor matrix
3.1.3 COVID-19 impact on value chain
3.2 Raw material outlook
3.3 Regulatory landscape
3.3.1 North America
3.3.2 Europe
3.3.3 Asia Pacific
3.3.4 Latin America
3.3.5 Middle East & Africa
3.4 Technology landscape
3.5 Pricing analysis, by region
3.5.1 North America
3.5.2 Europe
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 Middle East & Africa
3.6 Cost structure Analysis
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.2 Industry pitfalls and challenges
3.8 Innovation & sustainability
3.9 Growth potential analysis
3.10 Porter’s analysis
3.10.1 Supplier power
3.10.2 Buyer’s power
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.11 PESTEL analysis
3.12 Impact of COVID-19 on industry
3.13 Impact of Russia Ukraine war on the industry
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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