Introduction
Increasing consciousness towards health among consumers across the globe is boosting the popularity of better alternatives of simple food & beverages which they generally consume. Flavored and functional water comes under the category of healthy alternatives of beverages whereas flavored water is purified, spring water or bottled mineral. Functional water is its derivative along with added functional values such as minerals, oxygen, botanicals and vitamins. Flavored and functional water comes under the category of beverages which are marketed in similar terms to water. Although, it contains some additional elements including sweeteners and natural or flavors vitamins. The global functional and flavored market concentrates on a healthy image attached with functional benefits and perceived health. Flavored water contains mineral water in combination with several fruit juices including blackberry, pineapple, apple, mango, orange and strawberry among others along with natural or artificial sweeteners. On the other hand, functional water comes from flavored water and is made by using multiple ingredients such as vitamins, minerals, herbs, vegetables, raw fruit and oxygen. These antioxidants and additives furnish added nutritional benefits and values to the functional water.
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Market Dynamics
Rising consumer awareness and health concerns is leading to the demand for healthy alternatives such as flavored and functional water as compared to artificial or carbonated soft drinks. The most commonly used flavored and functional water contains guava, cherry, peach, lemon, apple and mixed flavors. Flavored and functional water does not contain any preservatives, caffeine, colors and carbonation. Thus, flavored and functional water products are rapidly gaining popularity among consumers of all age groups. Other aerated drinks including fizzy drinks, cola, and soda contain carbon dioxide, which causes several side effects like weight gain which leading to diabetes, and high calories, among others. On the other hand, non-aerated drinks are non-carbonated and pose a lot of nutritional benefits. Supply of polluted water in industrial sector has led to an increase in demand for flavored and functional water. In addition, the ingredients of functional water addresses calcium and heart absorption and reduces cholesterol. Growing awareness towards healthy lifestyle among population in developed countries along with rising prevalence of obesity are some key factors anticipated to drive the growth of flavored and functional water market during the forecast period. Functional water is gaining popularity due to its reduced switching costs and health benefits. Moreover, increasing availability of flavored water and increasing options in flavored and functional water is another major factor anticipated to boost the overall growth of global flavored and functional water market. In addition, since consumers generally prefer to opt for new tastes in flavored water, companies are focusing on innovations in product development. However, high cost of flavored and functional water is the key reason hampering the market growth.
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Market Classification
The Global Flavored and Functional Water Market can be segmented on the basis of product type and geography. By product type, the global flavored and functional water market can be segmented into flavored water and functional water. On the basis of geography, the global flavored and functional water market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.
Report Coverage
Market Global Flavored And Functional Water Market
Analysis Period 2014 – 2024
Historic Data 2014 – 2015
Base Year 2016
Forecast Data 2017 – 2024
Market Stratification Product Type, Geography
Regional Scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Report Coverage Market Trends, Drivers, Restraints, Porter’s Five Forces Analysis, Competitive Analysis, Player Profiling, Value Chain Analysis
Market Participants
Some of the key players in the global flavored and functional water market include New York Spring Water, Nestle S.A., PepsiCo, Groupe Danone, The Coca-Cola Company, Kraft Foods, Hint Water, Sunny Delight Beverages Company, and Balance Water Company among others.
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Market Segmentation
Market By Product Type
Flavored water
Functional water
Market By Geography
North America
o US
o Canada
o Mexico
Europe
o UK
o Germany
o France
o Rest of Europe
Asia-Pacific
o China
o Japan
o India
o Australia
o Rest of Asia-Pacific
Latin America
o Brazil
o Chile
o Rest of Latin America
Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
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