Flavored And Functional Water Market
Flavored and Functional Water Market Forecasts to 2030 - Global Analysis By Product (Functional, Flavored and Other Products), Packaging, Distribution Channel, End User and By Geography
According to Stratistics MRC, the Global Flavored and Functional Water Market is accounted for $56.9 billion in 2023 and is expected to reach $141.6 billion by 2030 growing at a CAGR of 13.9% during the forecast period. Flavored and functional waters have surged in popularity, offering a refreshing twist to traditional hydration. Beyond basic hydration, these innovative beverages tantalize taste buds with infused flavors like cucumber mint, watermelon basil, or citrus ginger. Functionality takes center stage, with added vitamins, minerals, and electrolytes aiming to boost energy, enhance focus, or support overall well-being. With zero or low-calorie options, these beverages cater to diverse preferences while promoting hydration in a more exciting and health-oriented way.
According to Walmart, by the end of 2022, Walmart plans to have 10,500 stores and clubs under 46 banners in 24 countries and e-commerce websites. Thus, the expansion of retail industries and easy availability of functional drinks through e-commerce, retail, and grocery stores are anticipated to drive market growth during the forecast period.
Market Dynamics:
Driver:
Rising consumers consciousness for healthier alternatives
As individuals prioritize well-being, there is a notable shift from sugary beverages to these healthier alternatives. Manufacturers respond by incorporating natural ingredients, fortifying with vitamins, and minimizing additives. This demand surge propels innovation, leading to a plethora of options that cater to specific health needs. The market witnesses an expanding consumer base seeking flavorful hydration without compromising on health. This shift not only underscores changing preferences but also fosters a competitive market where brands vie to meet the evolving expectations of health-conscious consumers.
Restraint:
Wider availability of substitute products
As consumers encounter an expanding array of beverage alternatives, ranging from enhanced waters to flavored teas, the demand for specialized flavored and functional waters may decline. Intense competition may lead to pricing pressures, affecting profit margins for industry players. Moreover, the perception of interchangeable benefits among substitute products could undermine the unique selling propositions of flavored and functional waters. In this saturated market, maintaining brand loyalty becomes challenging, hindering the sustained growth
Opportunity:
Manufacturer’s constant product innovations
The relentless pursuit of novel flavors, formulations, and health-oriented additives sparks consumer interest, driving demand. Innovations like unique flavor combinations, natural ingredients, and functional benefits enhance market competitiveness, attracting health-conscious consumers. This dynamic environment not only expands product offerings but also creates a trend-driven market, encouraging continuous exploration of new, appealing options. Manufacturer-driven innovations, coupled with consumer preferences for diverse and health-focused choices, synergistically propel the flavored and functional water market
Threat:
Stringent government regulations
Compliance challenges and increased scrutiny on ingredients, labeling, and health claims can hinder product innovation and limit manufacturers' ability to meet consumer demands. High compliance costs may trickle down to consumers, resulting in elevated product prices. Moreover, the lengthy approval processes for new formulations can stifle industry growth, making it harder for businesses to adapt to evolving consumer preferences hamper the market growth.
Covid-19 Impact
Supply chain disruptions, labor shortages, and economic uncertainties have disrupted production and distribution, leading to potential shortages and increased prices. The closure of foodservice establishments has shifted consumer purchasing habits towards retail, influencing packaging preferences. While the pandemic has driven demand for health-focused beverages, it has also presented operational challenges, reshaping the industry's dynamics and requiring agility for sustained growth.
The functional segment is expected to be the largest during the forecast period
The functional segment is estimated to have a lucrative growth, as consumers increasingly seek beverages that not only taste good but also offer health benefits. Functional enhancements, such as added vitamins, antioxidants, or adaptogens, contribute to this demand, attracting health-conscious individuals. As a result, the flavored and functional water market has witnessed expanded market share, with consumers valuing these beverages as a convenient and tasty way to address specific health needs.
The bottles segment is expected to have the highest CAGR during the forecast period
The bottles segment is anticipated to witness the highest CAGR growth during the forecast period, due to the shift towards eco-friendly packaging, such as recycled and biodegradable bottles, aligns with growing environmental consciousness. Convenient, portable bottle designs contribute to the market's accessibility, promoting on-the-go consumption. Additionally, innovative packaging solutions, like resealable and light-weight bottles, enhance user experience drive the market growth.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the increasing awareness of health and wellness among consumers in this region has driven the demand for healthier beverage options. Flavored and functional waters often appeal to health-conscious individuals seeking alternatives to sugary sodas or artificial beverages. Moreover, consumers are showing interest in functional beverages that offer additional health benefits, such as vitamins, minerals, antioxidants, and other functional ingredients. This trend has led to the development of flavored and functional waters with added nutrients or natural extracts propel the market growth.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to beverage companies in this region which have been focusing on introducing unique and diverse flavor profiles to cater to changing consumer preferences. The market has seen innovations in natural and exotic flavors, as well as combinations that offer a refreshing and hydrating experience. Furthermore many beverage companies are investing in marketing strategies to differentiate their products and attract health-conscious consumers.
Key players in the market
Some of the key players in the Flavored and Functional Water Market include Kraft Foods, New York Spring Water, Groupe Danone, Hint Water, Nestle SA, The Coca-Cola Company, Tata Group, Sunny Delight Beverages Company., PepsiCo, Nirvana Water Sciences, Balance Water Company, Keurig Dr Pepper, Miami Bay Bevera ge Company LLC , OHMG Brands Ltd, Bridgepoint Group plc and Trimino Brands Company LLC
Key Developments:
In February 2024, Kraft Heinz Partners With Carlton Power to Deliver Company's First-Ever Renewable Green Hydrogen Project in the UK. The proposed 20MW Kitt Green hydrogen plant, the first to be taken forward by Kraft Heinz globally.
In September 2023, Nestlé has announced an agreement with Advent International to acquire a majority stake in Grupo CRM, a premium chocolate player in Brazil. Grupo CRM operates a successful direct-to-consumer model, with more than 1 000 chocolate boutiques under the Kopenhagen and Brasil Cacau brands and a strong, growing online presence.
In July 2023, A1 Group, Inc. announced that it has consummated an asset purchase agreement for assets and accounts of NYSW Beverage Brands a full scale, water bottling operation in Halcott, New York.
Products Covered:
• Functional
• Flavored
• Other Products
Packagings Covered:
• Bottles
• Cans
• Cartons
• Pouches
Distribution Channels Covered:
• Supermarket & Hypermarket
• Convenience Store
• Online Store
• Specialty Stores
End Users Covered:
• Hospitals
• General Consumers
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Flavored and Functional Water Market, By Product
5.1 Introduction
5.2 Functional
5.2.1 Electrolytes
5.2.2 Energy Boosters
5.2.3 Detoxification
5.2.4 Probiotics
5.3 Flavored
5.3.1 Fruit
5.3.2 Floral
5.3.3 Spiced
5.3.4 Herb
5.4 Other Products
6 Global Flavored and Functional Water Market, By Packaging
6.1 Introduction
6.2 Bottles
6.3 Cans
6.4 Cartons
6.5 Pouches
7 Global Flavored and Functional Water Market, By Distribution Channel
7.1 Introduction
7.2 Supermarket & Hypermarket
7.3 Convenience Store
7.4 Online Store
7.5 Specialty Stores
8 Global Flavored and Functional Water Market, By End User
8.1 Introduction
8.2 Hospitals
8.3 General Consumers
8.4 Other End Users
9 Global Flavored and Functional Water Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Kraft Foods
11.2 New York Spring Water
11.3 Groupe Danone
11.4 Hint Water
11.5 Nestle SA
11.6 The Coca-Cola Company
11.7 Tata Group
11.8 Sunny Delight Beverages Company.
11.9 PepsiCo
11.10 Nirvana Water Sciences
11.11 Balance Water Company
11.12 Keurig Dr Pepper
11.13 Miami Bay Beverage Company LLC
11.14 OHMG Brands Ltd
11.15 Bridgepoint Group plc
11.16 Trimino Brands Company LLC
List of Tables
1 Global Flavored and Functional Water Market Outlook, By Region (2021-2030) ($MN)
2 Global Flavored and Functional Water Market Outlook, By Product (2021-2030) ($MN)
3 Global Flavored and Functional Water Market Outlook, By Functional (2021-2030) ($MN)
4 Global Flavored and Functional Water Market Outlook, By Electrolytes (2021-2030) ($MN)
5 Global Flavored and Functional Water Market Outlook, By Energy Boosters (2021-2030) ($MN)
6 Global Flavored and Functional Water Market Outlook, By Detoxification (2021-2030) ($MN)
7 Global Flavored and Functional Water Market Outlook, By Probiotics (2021-2030) ($MN)
8 Global Flavored and Functional Water Market Outlook, By Flavored (2021-2030) ($MN)
9 Global Flavored and Functional Water Market Outlook, By Fruit (2021-2030) ($MN)
10 Global Flavored and Functional Water Market Outlook, By Floral (2021-2030) ($MN)
11 Global Flavored and Functional Water Market Outlook, By Spiced (2021-2030) ($MN)
12 Global Flavored and Functional Water Market Outlook, By Herb (2021-2030) ($MN)
13 Global Flavored and Functional Water Market Outlook, By Other Products (2021-2030) ($MN)
14 Global Flavored and Functional Water Market Outlook, By Packaging (2021-2030) ($MN)
15 Global Flavored and Functional Water Market Outlook, By Bottles (2021-2030) ($MN)
16 Global Flavored and Functional Water Market Outlook, By Cans (2021-2030) ($MN)
17 Global Flavored and Functional Water Market Outlook, By Cartons (2021-2030) ($MN)
18 Global Flavored and Functional Water Market Outlook, By Pouches (2021-2030) ($MN)
19 Global Flavored and Functional Water Market Outlook, By Distribution Channel (2021-2030) ($MN)
20 Global Flavored and Functional Water Market Outlook, By Supermarket & Hypermarket (2021-2030) ($MN)
21 Global Flavored and Functional Water Market Outlook, By Convenience Store (2021-2030) ($MN)
22 Global Flavored and Functional Water Market Outlook, By Online Store (2021-2030) ($MN)
23 Global Flavored and Functional Water Market Outlook, By Specialty Stores (2021-2030) ($MN)
24 Global Flavored and Functional Water Market Outlook, By End User (2021-2030) ($MN)
25 Global Flavored and Functional Water Market Outlook, By Hospitals (2021-2030) ($MN)
26 Global Flavored and Functional Water Market Outlook, By General Consumers (2021-2030) ($MN)
27 Global Flavored and Functional Water Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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