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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Functional Water Market Share
The growing consumption of functional water by the health-conscious population for benefits like boosting the immune system, enhancing mental health, and improving hydration and nutrition is fuelling the functional water market demand. This can be attributed to the increasing incidences of chronic diseases and lifestyle disorders such as diabetes, which is leading to the growing importance of functional water to meet daily nutritional requirements.
Further, its growing adoption among millennials and the working-class segment, owing to the growing awareness about the health hazards of carbonated or sweetened drinks and contaminated tap water, is accelerating the functional water demand growth.
Functional Water Market Report Snapshots
Functional Water Market Growth
Functional Water Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global functional water market attained a value of nearly USD 6.51 billion.
The global functional water market is assessed to grow at a CAGR of 7.5% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach almost USD 12.42 billion by 2032.
The major market drivers include the growing demand for flavoured functional water, multiple health benefits of the product, rising awareness about the health hazards of carbonated drinks, expanding distribution channels, rising use of sustainable packaging solutions, and wide adoption by millennials and working-class people.
The key trends guiding the growth of the market include the rising health-consciousness, increasing incidences of chronic and lifestyle disorders, and new product launches by market players.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The significant product types of functional water include flavoured functional water and unflavoured functional water.
Based on ingredients the market is divided into vitamins, proteins and others.
The major packaging types of functional water include pet bottles and cans, among others.
The different distribution channels of the product include supermarkets and hypermarkets, convenience stores, speciality stores, and online, among others.
The competitive landscape consists of PepsiCo Inc., Nestle S.A., Danone S.A., Hint Inc., and Tata Consumer Products Limited, among others.
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