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Flavored and Functional Water Market Research Report – Forecast to 2030

Flavored and Functional Water Market research report: by type (flavored, functional), by ingredient type, by distribution channel, by packaging type , by region (North America, Europe, Asia-Pacific, and RoW) - Forecast period from 2022 to 2030

ID: MRFR/F-B & N/4988-HCR | December 2022 | Region: Global | 100 Pages         

Flavored and Functional Water Market

Flavored and Functional Water Market is likely to grow from $23.91 Billion in 2030 at a CAGR of 7.57% in forecast period, 2022-2030.

Segmentation

By Type flavored functional
By Region North America Europe Asia-Pacific RoW

Key Players

  • Associated British Foods plc (Twinnings) (U.K.)
  • Goodricke Group Ltd. (India)
  • Tata Global Beverages Ltd. (India)

Drivers

  • Rising Wave of Health-Consciousness
  • Increasing Application Areas
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Flavored and Functional Water Market Overview


Flavored and Functional Water Market is anticipated to increase from $23.91 billion in 2030 at a CAGR of 7.57% between 2022 and 2030. functional water is a popular hot drink or beverage that is consumed by people all over the world. Various types of functional water are made including processes like brewing, decocting, boiling the dry leaves in hot water for the much-needed aroma and taste. and functional water offers multiple health advantages and owing to the difference in the taste of people who have a thing for drinking and functional water, the market players develop products of different tastes, ranges, and market prices. This helps to provide increasing chances of driving a larger degree of demand for the available market products. Further, the global flavored and functional water market report is helping them choose products that suit their taste the best.


The market trends suggest that there has been a growing awareness amongst the global population about being precautionary about their health and lifestyle which is emerging as one of the major reasons that are driving the market towards growth during the forecast period that ends in 2030.


COVID 19 Analysis


Flavored and functional water is one of the most preferred intakes when it comes to understanding the tastes and preferences of people at large and maintaining the hydration levels within the human body. The emergence of the fatalities introduced by the pandemic as a huge healthcare emergency has forced people to take a backseat from their workplaces and sit at home. The imposition of temporary and permanent lockdown by the global governments was a new kind of trend that the people were enjoying at first but later, many people began struggling to meet their daily needs and were in dire need of government resources to intervene and help them out. However, it was a major struggle for the production, functioning, raw material production, and manufacturing units to maintain the supply chain mechanism of the market as it reduced the availability of skilled workforce and resources.


The global Flavored and Functional Water Market players have identified the need to address the changing tastes and preferences of people and developed products that promised the use of natural and authentic ingredients in preparing the market products and this has had a positive impact on the health of people. Also, the rising investments and funding from the public sector promise excellent growth for the market during the forecast period that ends in 2030.


Market Dynamics


Drivers


The rising awareness amongst different consumers groups that are related to the health benefits associated with the consumption of flavored and functional water is one of the major factors that is driving the growth of the Flavored and Functional Water Market during the ongoing forecast period of 2022-2030. There has been a substantial rise in the income and purchasing power of people that are leading them to change their preferences and try new things out. The introduction and availability of content like health ingredients on the packing of these Flavored and Functional Water Market products are likely to present the market with great growth opportunities during the period that will be ending in 2030.


Opportunities


Flavored and functional water is one of the most conveniently available beverages which is acting as a major reason for various qualitative startups. The demand for functional water is soaring high in the APAC region with the young population being divided into functional water lovers and coffee lovers.


Technology Analysis


The flavored and functional water market size is witnessing major expansions during the forecast period of 2022-2030 owing to its attached health benefits, and taste enjoyed by the target audience. The worldwide consumption of functional water has increased as the target audience has experienced growth in the number of taste variants available. Flavored and functional water is one of the major market inclusions alongside herbal and fruit and functional water which is positively impacting the market operations at a global scale.


Study Objectives



  • The market studies the impact of the ongoing market operations and the dynamics in the form of drivers and restraints available to the market during the forecast period beginning in 2022 and ending in 2030.

  • The global market report helps to analyze the impact of the sudden outbreak of the coronavirus pandemic on the market operations and consider the predictions related to growth and market valuation laid down by the industry experts and leaders.

  • The flavored and functional water market studies the rising degree of competition and draws a graph amongst the market players based on the market trends and the recent developments undertaken by the players during the ongoing forecast period that ends in 2030.

  • The report helps to understand the distribution of resources that will help the global market regions emerge as tough competitors in the international market during the forecast period of 2022-2030.

  • To help the potential market buyers and investors understand the revenue potential held by the market segments that are supplying the market products and services to the target audience that is located in several parts of the globe.


Segment Overview


Based on the flavored and functional water market trends, the global market is catering to the needs of the target audience in various regions across the globe. The market has been segmented based on the following:


Based on the market products


The Flavored and Functional Water Market can be classified into flavored water and functional water. Flavored water helps to lay a major focus on rendering health benefits such as improved immunity and energy-boosting, thereby gaining popularity among consumers. 


Based on the geography


The global Flavored and Functional Water Market is classified into regions like North America, Europe, Asia-Pacific, and LAMEA. The U.S region has the largest market functional for flavored and functional water. This market is expected to grow in the Asia-Pacific region during the ongoing forecast period that will be ending in 2030 due to increasing disposable income and a high rate of urbanization.


Regional Analysis


During the forecast period of 2022-2030, the global market operations have experienced a major hike and thus, a rise in the demand patterns is expected in the APAC region. One of the major reasons is that green and functional water production is the maximum in the Chinese region. This Flavored and Functional Water Market segment is likely to experience maximum growth in comparison to black and functional water. Apart from the APAC region, the European regions are also expecting to grow at a significant rate during the forecast period of 2022-2030.


Competitive Landscape


To analyze the rising competitive degree amongst the market players, the report discusses the prominent market players. The key market players are as follows:



  • Associated British Foods plc (Twinnings) (U.K.)

  • Goodricke Group Ltd. (India)

  • Tata Global Beverages Ltd. (India)


Recent Developments



  • The prominent market players that are functional in countries like India and China in the APAC region are opting to reach the target audience. This is an attempt at large with the help of store-based distribution channels like supermarkets and retail outlets to make the market products available at a larger market scale to meet the varied needs of the global target audience.

  • The flavored and functional water market is gaining international attention in modern times as it presents a great value for money, helps in maintaining hydration levels, and has an enhanced taste. The market trends suggest that there has been a surge in global demand which is pushing for a hike in the imports and exports in countries like the US and Canada, as a part of the North American market followed by the developments in the APAC region.

  • The hypermarkets and wide availability of the supermarkets that are a part of the European market are adding to the availability of product variations and are also offering a good choice to the consumers that demand flavored and functional water markets.


Report Overview


The global Flavored and Functional Water Market report helps in discussing the market dynamics and trends that are likely to lead the market operations during the ongoing forecast period of 2022-2030. The global market report has been prepared to help in understanding the working of the market players and further, enhance the ability of the market segments to maintain a proper flow of the demand and supply chain mechanism. The global market report helps in preparing the market insights to understand the growth and expansion trends for the upcoming years, as a part of the forecast period that ends in 2030.



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 23.91 Billion
  CAGR   7.57% (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by type, ingredient type, distribution channel, packaging type , region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Associated British Foods plc (Twinnings) (U.K.),Goodricke Group Ltd. (India),Tata Global Beverages Ltd. (India)
  Key Market Opportunities   The young population is divided into functional water lovers and coffee lovers.
  Key Market Drivers   Rising Wave of Health-Consciousness, Increasing Application Areas


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Frequently Asked Questions (FAQ) :

Fever-Tree, Dr Pepper Snapple Group, SodaStream International Ltd., A.S. Watson Group, Fentimans, Seagram Company Ltd., White Rock Beverages, Hansen Beverage Company, Inc. are major players of the global flavored and functional water market.

Deficiency of vitamins can lead to higher consumption of these beverages and drive the global flavored and functional water market growth.

Availability of substitutes can restrain the global flavored and functional water market growth.

North America can lead the global flavored and functional water market till 2030.

Flavored and functional water market is driven by the rising wave of health-consciousness among the masses.