Market overview:

Functional water is recognized as an aquaculture product, a non-alcoholic beverage similar to water that contains additional ingredients that enhance functional benefits. Provides freshness and flavor. Some common additives are vitamins, acids, minerals, herbs, and fruits or vegetables that help improve immunity and increase energy. The shift in preference for carbonated and high sugar beverages will stimulate market demand for functional water.

Recent developments:

Danone SA intends to offer new choices to plant-based milk with better taste and surface in the not so distant future. Chiefs gave restricted subtleties on the stage during a profit approach July 29 to talk about first half outcomes, in which net gain expanded 5%.
Market Drivers and Restraints:

In addition, in a few years, increasing consumer demand for fortified foods and beverages is expected to drive an increase in the demand for functional water. As the global number of diabetic and obese patients increases each year, sales are expected to skyrocket, posing a serious threat to the global community. As consumers have turned away from soft drinks for bottled water, countries like the United States, United Kingdom, China, India, and Australia have increased their production of functional water. However, the price of PET bottles used for packaging functional water is expected to increase during the forecast period, which will hamper the expansion of the global functional water market. Additionally, the COVID-19 pandemic has offered more prospects for the functional water market.

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Report is segmented as:

By Type

Vitamins and Minerals
• Herb Infused
• Fruit or Vegetables Infused
By Distribution Channel

Supermarket or Hypermarket
• Specialty Store
• Online Store
Geographical Segmentation:

Geographically, Europe is expected to dominate the global functional water market, as its total revenue and market volume are higher than other regions. The number of consumers in the region is increasing, which should help the business prosper. The drug and refreshment ventures are driving interest in North America, which is the second biggest market. As the total populace develops, Asia-Pacific is relied upon to be the quickest developing business sector. Extra cash of customers has expanded in arising economies like China, India and Japan, which is relied upon to drive the development of the functional water market during the conjecture time frame.

Impact of COVID-19 on Functional Water Market:

Since consumers initially focused on adequate nutritional intake during the pandemic, they are likely to turn to healthier beverage options and describe their preference for functional waters infused with vitamins and minerals. Therefore, the COVID-19 pandemic has offered broader opportunities for the functional water market during the forecast period. Additionally, online retail channels will achieve a higher growth rate than conventional distribution channels, such as supermarkets and specialty stores, in terms of functional water sales during the forecast period.

Key market players:

Danone SA, The Coca-Cola Company, 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.