Functional Water Global Market Size, Share Report, Growth, Analysis, Key Players, Revenue, Future Trends, Forecast 2033 | San Benedetto, Unique Foods, Nestle SA, Hint Water, Balance Water Company

The functional water market size has grown strongly in recent years. It will grow from $8.57 billion in 2023 to $9.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to increased awareness of hydration, fitness and sports enthusiast market, shift towards sugar-free beverages, rise in lifestyle-related health issues, urbanization and busy lifestyles, innovative packaging solution, increased consumer education, environmental sustainability.

The functional water market size is expected to see strong growth in the next few years. It will grow to $12.33 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to rising demand for functional ingredients, growing focus on immune health, expansion of online retail channels, advancements in nutraceutical research, integration of adaptogens and botanicals, expansion of specialty retailers, focus on hydration in sports nutrition. Major trends in the forecast period include hydration with added benefits, low-calorie and sugar-free options, electrolyte-enhanced waters, collaborations and limited editions, cb*d-infused functional water, digital marketing and e-commerce.

Market Overview -
Functional water refers to a category of non-alcoholic beverages that provides additional health and functional benefits. It is enriched with supplemental ingredients known as aquaceuticals.

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Rising Obesity Rates Drive Growth In The Functional Water Market
The increasing prevalence of obesity is driving the growth of the functional water market. Obesity is a complex disease characterized by an excess of body fat that raises the risk of developing other diseases and health issues, such as heart disease, diabetes, high blood pressure, and certain cancers. Because of the widespread prevalence of obesity, functional water is being used as a dietary means for weight loss and overweight or obesity prevention. For instance, according to the World Health Organization (WHO), an international public health agency, over 1 billion people globally are obese currently (2022), of that, 650 million are adults, 340 million are youth and 39 million are children. By 2025, around 167 million people; adults and children will become less healthy as they will be overweight or obese. Therefore, the increasing prevalence of obesity is expected to propel the growth of the functional water market in the forecast period.

Competitive Landscape -
Major companies operating in the functional water market report are Danone, The Coca-Cola Company, Pepsico Inc., Dr. Pepper Snapple Vitamin Well AB, Trimino Brands LLC., NYSW Beverage Brands Inc., Herbal Water, Vichy Catalan Corporation, San Benedetto, Unique Foods, Nestle SA, Hint Water, Balance Water Company, Sunny Delight Beverages Company, Hind Water, Kraft Foods, Function Drinks, Bridgepoint Group plc., Disruptive Beverages Inc., Keurig Dr Pepper Inc., CENTR Brands Corporation, Flow Beverage Corp, Ayala's Herbal Water, Nirvana Water Sciences Corp, Talking Rain Beverage Company, The Alkaline Water Company Inc., Wtrmln Wtr, HFactor, Penta Water Company, AquaHydrate Inc, Propel Water, Gatorade

Innovative Functional Water Products Revolutionizing The Market
Product innovation is a key trend gaining popularity in the functional water market. Major market players are developing innovative functional water products such as water with science-backed benefits to sustain their position in the functional water market. For instance, in March 2022, Nirvana Water Sciences Corp, a US-based company engaged in developing life-enhancing beverages by combining pure water, innovations of science, and care for the environment introduced a new innovative functional water 'Nirvana HMB + Vitamin D3' spring water. Nirvana HMB + Vitamin D3 spring water is a functional beverage with combined science-backed benefits. Nirvana HMB + Vitamin D3 boasts powerful benefits by combining muscle recovery and immunity. The new product combined with HMB, and Vitamin D3 improves its effectiveness, resulting in a powerful synergistic effect. A winning combination can be achieved when consumers integrate the immunity-boosting benefits of Vitamin D3 with the optimization of delivery in water. It is innovative functional water for all types of consumers.

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Key Segments -
The functional water market covered in this report is segmented -
1) By Product Type: Vitamin, Protein, Other Product Types
2) By Packaging: Pet Bottles, Can, Other Packaging
3) By Distribution Channel: Hypermarkets Or Supermarkets, Specialty Stores, Online Stores, Other Distribution Channels

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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