January 13, 2021
According to the research report titled ‘Global Flavored and Functional Water Hydration Market Analysis, 2020’, available with Market Study Report LLC, global flavored and functional water hydration market is expected to record a y-o-y growth rate of 8.4% during 2020-2025, subsequently reaching a valuation of USD 44.28 billion by the end of the forecast period.
Collective inclination towards avoiding carbonated drinks as well as high sugar beverages is one of the key driving factors of global flavored and functional water hydration market. It is to be noted that functional water comprises of vegetables, fruits, herbs, minerals, and vitamins, which offer several beneficial properties upon consumption. Thus, high demand for sugar-free and zero-calories functional water is further aiding the market expansion.
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Rising per capita income, increased pervasiveness of obesity and mounting concerns regarding adverse effects of sugar have impelled the demand for flavored and functional bottled water. In addition, swift industrialization and urbanization, improving economic conditions, and surging pollution levels are also stimulating global flavored and functional water hydration industry.
Improving cognizance regarding the harmful environmental effects of single-use plastics have compelled manufacturers to opt for biodegradable packaging solutions in order to entice consumers, which in turn is also adding traction to global flavored and functional water hydration industry.
In terms of ingredient type, minerals and vitamins segment accounted for the largest share in global flavored and functional water hydration industry and is likely to depict similar growth trends in the upcoming years. Increasing awareness regarding use of vitamins, minerals, amino acids, and botanical extracts coupled with shifting trends towards consuming nutritional water over carbonated beverages are fueling the segmental share.
Citing the distribution channel, global flavored and functional water hydration industry size from specialty stores is predicted to expand significantly during the estimated timespan. Flavored and functional water is widely available in specialty stores and hence is favoring the overall market scenario. Meanwhile, the online distribution segment is likely to showcase a robust CAGR through 2025.
Considering the geographical landscape, developed countries such as Japan, Italy, France, Germany and the United States are emerging to be lucrative opportunities for the overall market growth, primarily due to growing urban population and rising health awareness. On the other hand, flavored and functional water hydration industry size in Asia-Pacific, Middle East, and South America is also expected to grow significantly during the forecast duration.
Sunny Day Beverages Co., Talking Rain Beverage Co., Herbal Water, Hint Water, PepsiCo Inc., NYSW Beverage Brands Inc., The Coca-Cola Company, Kraft Foods Group, Danone S.A., and Nestlé S.A. are the key companies operating in global flavored and functional water hydration market.