Flavored and Functional water market: shifting consumer preference form carbonated beverage to flavored & functional beverage likely to boost market growth during the forecast period from 2023 to 2032

Global Flavored and Functional Water Market is predicted to reach USD 24.87 billion at a CAGR of 7.57% during the forecast period:

Market Research Future (MRFR) has published a cooked research report on the “Global Flavored and Functional Water Market” that contains information from 2023 to 2032. The Global Flavored and Functional Water Market is estimated to register a CAGR of 7.57% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the Global Flavored and Functional Water Market— Groupe Danone, Nestle SA, The Coca-Cola Company, PepsiCo, Hint Water, New York Spring Water, Kraft Foods, and Balance Water Company.

Market Highlights

The Global Flavored and Functional Water Market is accounted to register a CAGR of 7.57% during the forecast period and is estimated to reach USD 24.87 Billion by 2032.

The Global Flavored and Functional Water Market refers to the worldwide industry encompassing the production, distribution, and consumption of various types of water-based beverages that offer not only hydration but also specific flavors and functional benefits. This market segment has experienced substantial growth in recent years due to changing consumer preferences, increased awareness of health and wellness, and a demand for more diverse beverage options.

The market's growth is driven by factors such as changing consumer preferences, a focus on healthier beverage options, rising awareness of the importance of hydration, and marketing strategies that emphasize the functional benefits of these products. Companies within the industry are constantly innovating to create new flavor profiles and develop water-based beverages that cater to specific health and lifestyle needs.

Segment Analysis

The Global Flavored and Functional Water Market has been segmented based on type and sales channel.

On the basis of type, the market is segmented into Flavored and Functional. The functional segment dominated the market. Flavored water is non-alcoholic bottled drinking water that is mineral-rich and flavorful. Flavored water is available in three varieties: still, sparkling, and functional water with natural flavors. functional flavored water has additional components that provide health advantages, such as protein, vitamins, botanicals, herbs, and alkaloids.

Based on sales channel, the market has been segmented into Store-Based and Non-Store-Based. The store-based category generated the most income. Consumer preferences are trending towards impulsive food and beverage purchases. Supermarkets make it easier for people to buy bulk food and other supplies. This component encourages the expansion of this segment.

Regional Analysis

The Global Flavored and Functional Water Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Flavored and Functional Water Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Flavored and Functional Water Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Global Flavored and Functional Water Market comprises of Middle East, Africa, and Latin America.

North America is one of the leading markets for flavored and functional water. The health-conscious lifestyle and increasing preference for healthier beverage options have fueled the demand in this region.

Europe has a well-established market for flavored and functional water, with a strong emphasis on natural ingredients and organic options. Alkaline and herbal-infused waters are gaining popularity, aligning with the wellness trends in the region.

The Asia-Pacific region is experiencing rapid growth in the flavored and functional water market due to changing lifestyles, urbanization, and increasing disposable incomes. Traditional herbal and botanical ingredients are often incorporated into functional water products, appealing to consumers who value traditional remedies.

Furthermore, the rest of the world's Global Flavored and Functional Water Market is divided into the Middle East, Africa, and Latin America.  Latin America has seen a rising demand for healthier beverage options, driving the growth of flavored and functional water products. The market is characterized by a mix of both global and locally sourced flavors and ingredients.

Key Findings of the Study

• The Global Flavored and Functional Water Market is expected to reach USD 24.87 Billion by 2032, at a CAGR of 7.57% during the forecast period.


• North America is one of the leading markets for flavored and functional water. The health-conscious lifestyle and increasing preference for healthier beverage options have fueled the demand in this region. The market is characterized by a wide range of innovative flavors and ingredients, catering to diverse tastes.


• Based on type, the market is segmented into Flavored and Functional holding the largest market in 2022.


• Groupe Danone, Nestle SA, The Coca-Cola Company, PepsiCo, Hint Water, New York Spring Water, Kraft Foods, and Balance Water Company.