Kings Research published a new report on Functional Water Market Size, Share, Growth, Industry Trends & Forecast 2031, Functional Water Market generated USD 15.88 billion in revenue in 2023 and is expected to reach USD 29.37 billion by 2031, with a projected compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.

Major Manufacturers in the Functional Water -

  • The Coca-Cola Co.
  • PepsiCo Inc.
  • Nirvana Water Sciences Corp.
  • Beverage Corp.
  • Danone
  • Nestle
  • Trimino
  • Vitamin Well
  • Hint Water
  • The Alkaline Water

The Asia-Pacific region is anticipated to experience the highest growth rate of 9.0% during the forecast period. This growth is driven by factors such as rapid urbanization and increasing disposable incomes. In densely populated countries like India and China, the youth demographic is expanding rapidly.

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Regional Analysis:

  • North America: Dominates the functional water market, driven by a high demand for health and wellness products. The U.S. market is particularly strong, with consumers increasingly seeking low-calorie, nutrient-rich beverage options.
  • Europe: Exhibits significant growth, with countries like Germany and the UK leading the way in functional water consumption. The European market is characterized by a high level of health awareness and a preference for natural and organic products.
  • Asia-Pacific: Represents a rapidly growing market, with increasing disposable incomes and a growing awareness of health and fitness driving demand. Countries such as China, Japan, and India are key markets in this region.

North America emerged as the leading market for functional water in 2023, capturing a substantial 28.1% share. This dominance is attributed to a significant shift in consumer preferences towards healthier and more functional beverage options in the region.

Functional Water Market is segmented:

By Product Type

  • Flavored
  • Unflavored/Plain

By Category

  • Still/Regular Functional Water
  • Sparkling Functional Water

By Distribution Channel

  • Business to Business (HORECA Sector)
  • Business to Consumer
    • Hypermarkets/Supermarkets
    • Specialty Stores
    • Drug & Pharmacy Stores
    • Online Retailers
    • Others
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