Global Functional Water Market 2018-2022
About Functional Water
Functional water is bottled drinking water enhanced with special ingredients like herbs or antioxidants to provide additional health benefits.
Technavio’s analysts forecast the global functional water market to grow at a CAGR of 8.83% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global functional water market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Functional Water Market 2018-2022
Technavio recognizes the following companies as the key players in the global functional water market: Danone, Nestlé, New York Spring Water, PepsiCo, and THE COCA-COLA COMPANY.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rising interest in functional water with herbal ingredients. The increasing demand for functional water with herbal ingredients across the globe is because the consumers are well-aware of the health-promoting benefits of consuming functional water infused with herbs. For example, the consumption of aloe vera infused drinking water is gaining recognition in the market for its role in enhancing the immune response of the human body.”
According to the report, one driver in the market is increasing demand for functional beverages. The growing population of health-conscious consumers across the globe prefers functional beverages over other bottled drinks. The health benefits of consuming functional water are attributable to the presence of minerals, vitamins, herbs and other essential elements.
Further, the report states that one challenge in the market is availability of low-cost alternative drinks. The global functional water market is being strongly affected by the increasing availability of low-cost, alternative drinks such as juices, soft drinks, and more. The consumers who are fond of different flavors are more likely to consider substitutes like juices and soft drinks while looking to purchase bottled drinks.
Danone, Nestlé, New York Spring Water, PepsiCo, and THE COCA-COLA COMPANY.