Summary

The functional and flavored water market is poised for significant growth, reflecting the increasing global demand for healthier beverage alternatives. Functional water, enriched with beneficial ingredients such as vitamins, minerals, and botanicals, offers a more health-conscious option compared to traditional flavored water, which is usually bottled mineral or purified water with added flavors. As consumer awareness and interest in health and wellness grow, the market for these beverages continues to expand.The market is projected to grow from $43.87 billion in 2024 to $101 billion by 2031, with a robust CAGR of 12.60% during this period.

Consumer Trends in Functional and Flavored Water

The surge in health consciousness among consumers globally has led to a shift in preferences toward healthier alternatives to conventional food and beverages. Functional and flavored water has emerged as a popular choice in this category. While flavored water is appealing due to its taste and convenience, functional water has gained traction for its added health benefits. This trend is particularly strong among aging populations and those who are increasingly mindful of their health, leading to a notable shift away from sugary, synthetic drinks.

In recent years, the demand for low-sugar and zero-calorie beverages has grown, driving the expansion of the functional and flavored water market. Factors such as rapid urbanization, rising disposable incomes, and improving standards of living have further bolstered this growth. The expansion of retail chains has also made these products more accessible to a wider audience, contributing to their increasing popularity.

Health and Wellness as Key Market Drivers

The prevalence of lifestyle-related health issues such as obesity has heightened consumer awareness about the importance of maintaining a healthy lifestyle. This awareness is a major driver of the functional and flavored water market, as more people seek healthier beverage options. The reduction in the consumption of artificially flavored beverages and carbonated drinks has led to a rise in the popularity of flavored and functional water.

Functional water, in particular, is attractive to health-conscious consumers due to its added health benefits and the relatively low cost of switching from flavored water. The availability of a wide range of flavors and options further encourages consumers to try new products, contributing to market growth.

Cosmetic Benefits and Market Growth

Beyond health benefits, functional water is also associated with cosmetic advantages, such as improving skin health. As income levels rise, especially in developing countries, more people are willing to invest in premium products like functional and flavored water. Companies have capitalized on this trend by linking water consumption to beauty and health routines, further driving market growth.

In regions like China, rapid industrialization has led to concerns about water quality, which has, in turn, fueled the demand for packaged drinking water. This trend is likely to continue, providing a boost to the functional and flavored water market.

The Appeal of Flavored Water

Flavored water offers a refreshing alternative to plain water, making it more appealing to consumers. The addition of fruit flavors gives the water a distinctive taste that encourages people to drink more, which is particularly beneficial for those looking to lose weight or improve their overall health. The increased consumption of water, driven by its improved taste, is expected to drive further demand for flavored water products.

Environmental Concerns and Market Constraints

Despite the growth potential, the functional and flavored water market faces challenges, particularly regarding environmental concerns related to plastic packaging. Many flavored water producers use plastic bottles, which have a negative impact on the environment and human health. Water stored in plastic containers can be harmful, and the carbon footprint associated with plastic packaging is also a concern. These factors may constrain market growth as consumers and regulators push for more sustainable packaging solutions.

Regional Market Insights

The functional and flavored water market is witnessing varied growth patterns across different regions. Europe currently dominates the market, with high demand in countries like France and Germany. These nations account for a significant portion of the overall consumption in Europe, with France alone contributing nearly one-third of the region's market.

North America is another major market for functional and flavored water, driven by the popularity of these beverages in the United States and Canada. Convenience stores and online retail channels are the fastest-growing sales avenues in this region, reflecting the increasing consumer preference for easy access to health-focused products.

In contrast, the Latin American market, while larger than that of the Middle East and Africa, is expected to grow at a slower pace. The Middle East and Africa, however, are anticipated to experience faster growth rates due to rising health awareness and increasing disposable incomes.

Product Type and Sales Channel Insights

Within the functional and flavored water market, functional water holds the largest share and is expected to continue dominating the market. The health benefits associated with functional water make it a preferred choice for many consumers, particularly those looking for added value in their beverage options.

When it comes to sales channels, hypermarkets and supermarkets account for the largest share of the market. The wide availability and accessibility of products in these stores make them a popular choice for consumers. Additionally, the growing presence of convenience stores and the rise of online retail have contributed to the overall growth of the market, making it easier for consumers to purchase these beverages.

Competitive Analysis

The functional and flavored water market has seen significant advancements over the past decade, driven by the increasing popularity of healthy lifestyles. Companies are keen to capitalize on this trend, leading to numerous product launches and strategic mergers.

For instance, Groupe Danone strengthened its presence in the market through a merger with a Turkish bottled water manufacturer, expanding its distribution network and geographical reach. Similarly, The Coca-Cola Company has made strategic moves in the region by partnering with local companies to create a leading beverage bottler in Africa.

PepsiCo, Inc. has also expanded its product portfolio with the launch of flavored sparkling water, catering to the rising demand for healthier beverages. Nestlé Waters, on the other hand, has increased its production capacity with new manufacturing facilities, supporting the growth of its bottled water brand.

Key Players in the Market

The functional and flavored water market is highly competitive, with numerous key players vying for market share. These include well-known brands such as Talking Rain Beverage Company, Propel, Bai Brands, LLC, and Body Armor Nutrition LLC. Other notable players include San Pellegrino Essenza, Bubbly, JUST WATER, and Spindrift Beverage Co., Inc.

These companies are continuously innovating and expanding their product offerings to meet the evolving demands of health-conscious consumers. By focusing on product differentiation, marketing strategies, and sustainability initiatives, they aim to capture a larger share of the growing functional and flavored water market.

• Talking Rain Beverage Company

• HINJ7

• Propel

• Bai Brands, LLC

• Body Armor Nutrition LLC

• San Pellecrino Essenza

• Bubbly

• JUST WATER

• Lemon Perfect

• Spindrift Beverage Co., Inc.

• Perrier

• Alkazone

• CORE

• Essentia Water Inc.

• NESTLE SPLASH

• PepsiCo

• AHA

• The Coca-Cola Company

• Groupe Danone

• New York Spring Water

• KRAFT Foods

Functional and Flavored Water Industry Research by Category

By Product Type:

• Flavored Water

• Functional Water

By Sales Channel:

• Hypermarkets/Supermarkets

• Convenience Stores

• Specialty Stores

• Departmental Stores

• Online Retail

By Region:

• North America

• Latin America

• Europe

• South Asia & Pacific

• East Asia

• Middle East & Africa

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Table of Contents

1. Executive Summary
1.1. Global Flavored and Functional Water Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Production Output and Trade Statistics, 2019-2023
3.1. Global Flavored and Functional Water Market Production Output, by Region, Value (US$ Bn) and Volume (Liters), 2019-2023
3.1.1. North America
3.1.2. Europe
3.1.3. Asia Pacific
3.1.4. Latin America
3.1.5. Middle East and Africa
4. Price Analysis, 2019-2023
4.1. Global Average Price Analysis, by Product Type, US$ Per Liters, 2019-2023
4.2. Prominent Factor Affecting Flavored and Functional Water Prices
4.3. Global Average Price Analysis, by Region, US$ Per Liter
5. Global Flavored and Functional Water Market Outlook, 2019-2031
5.1. Global Flavored and Functional Water Market Outlook, by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
5.1.1. Key Highlights
5.1.1.1. Flavored Water
5.1.1.2. Functional Water
5.2. Global Flavored and Functional Water Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
5.2.1. Key Highlights
5.2.1.1. Hypermarkets/Supermarkets
5.2.1.2. Convenience Stores
5.2.1.3. Specialty Stores
5.2.1.4. Departmental Stores
5.2.1.5. Online Retail
5.3. Global Flavored and Functional Water Market Outlook, by Region, Value (US$ Bn) and Volume (Liters), 2019-2031
5.3.1. Key Highlights
5.3.1.1. North America
5.3.1.2. Europe
5.3.1.3. Asia Pacific
5.3.1.4. Latin America
5.3.1.5. Middle East & Africa
6. North America Flavored and Functional Water Market Outlook, 2019-2031
6.1. North America Flavored and Functional Water Market Outlook, by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
6.1.1. Key Highlights
6.1.1.1. Flavored Water
6.1.1.2. Functional Water
6.2. North America Flavored and Functional Water Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
6.2.1. Key Highlights
6.2.1.1. Hypermarkets/Supermarkets
6.2.1.2. Convenience Stores
6.2.1.3. Specialty Stores
6.2.1.4. Departmental Stores
6.2.1.5. Online Retail
6.3. North America Flavored and Functional Water Market Outlook, by Country, Value (US$ Bn) and Volume (Liters), 2019-2031
6.3.1. Key Highlights
6.3.1.1. U.S. Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
6.3.1.2. U.S. Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
6.3.1.3. Canada Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
6.3.1.4. Canada Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
6.3.2. BPS Analysis/Market Attractiveness Analysis
7. Europe Flavored and Functional Water Market Outlook, 2019-2031
7.1. Europe Flavored and Functional Water Market Outlook, by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
7.1.1. Key Highlights
7.1.1.1. Flavored Water
7.1.1.2. Functional Water
7.2. Europe Flavored and Functional Water Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
7.2.1. Key Highlights
7.2.1.1. Hypermarkets/Supermarkets
7.2.1.2. Convenience Stores
7.2.1.3. Specialty Stores
7.2.1.4. Departmental Stores
7.2.1.5. Online Retail
7.3. Europe Flavored and Functional Water Market Outlook, by Country, Value (US$ Bn) and Volume (Liters), 2019-2031
7.3.1. Key Highlights
7.3.1.1. Germany Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
7.3.1.2. Germany Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
7.3.1.3. U.K. Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
7.3.1.4. U.K. Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
7.3.1.5. France Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
7.3.1.6. France Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
7.3.1.7. Italy Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
7.3.1.8. Italy Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
7.3.1.9. Turkey Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
7.3.1.10. Turkey Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
7.3.1.11. Russia Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
7.3.1.12. Russia Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
7.3.1.13. Rest of Europe Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
7.3.1.14. Rest of Europe Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
7.3.2. BPS Analysis/Market Attractiveness Analysis
8. Asia Pacific Flavored and Functional Water Market Outlook, 2019-2031
8.1. Asia Pacific Flavored and Functional Water Market Outlook, by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
8.1.1. Key Highlights
8.1.1.1. Flavored Water
8.1.1.2. Functional Water
8.2. Asia Pacific Flavored and Functional Water Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
8.2.1. Key Highlights
8.2.1.1. Hypermarkets/Supermarkets
8.2.1.2. Convenience Stores
8.2.1.3. Specialty Stores
8.2.1.4. Departmental Stores
8.2.1.5. Online Retail
8.3. Asia Pacific Flavored and Functional Water Market Outlook, by Country, Value (US$ Bn) and Volume (Liters), 2019-2031
8.3.1. Key Highlights
8.3.1.1. China Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
8.3.1.2. China Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
8.3.1.3. Japan Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
8.3.1.4. Japan Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
8.3.1.5. South Korea Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
8.3.1.6. South Korea Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
8.3.1.7. India Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
8.3.1.8. India Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
8.3.1.9. Southeast Asia Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
8.3.1.10. Southeast Asia Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
8.3.1.11. Rest of Asia Pacific Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
8.3.1.12. Rest of Asia Pacific Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
8.3.2. BPS Analysis/Market Attractiveness Analysis
9. Latin America Flavored and Functional Water Market Outlook, 2019-2031
9.1. Latin America Flavored and Functional Water Market Outlook, by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
9.1.1. Key Highlights
9.1.1.1. Flavored Water
9.1.1.2. Functional Water
9.2. Latin America Flavored and Functional Water Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
9.2.1. Key Highlights
9.2.1.1. Hypermarkets/Supermarkets
9.2.1.2. Convenience Stores
9.2.1.3. Specialty Stores
9.2.1.4. Departmental Stores
9.2.1.5. Online Retail
9.3. Latin America Flavored and Functional Water Market Outlook, by Country, Value (US$ Bn) and Volume (Liters), 2019-2031
9.3.1. Key Highlights
9.3.1.1. Brazil Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
9.3.1.2. Brazil Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
9.3.1.3. Mexico Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
9.3.1.4. Mexico Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
9.3.1.5. Argentina Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
9.3.1.6. Argentina Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
9.3.1.7. Rest of Latin America Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
9.3.1.8. Rest of Latin America Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
9.3.2. BPS Analysis/Market Attractiveness Analysis
10. Middle East & Africa Flavored and Functional Water Market Outlook, 2019-2031
10.1. Middle East & Africa Flavored and Functional Water Market Outlook, by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
10.1.1. Key Highlights
10.1.1.1. Flavored Water
10.1.1.2. Functional Water
10.2. Middle East & Africa Flavored and Functional Water Market Outlook, by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
10.2.1. Key Highlights
10.2.1.1. Hypermarkets/Supermarkets
10.2.1.2. Convenience Stores
10.2.1.3. Specialty Stores
10.2.1.4. Departmental Stores
10.2.1.5. Online Retail
10.3. Middle East & Africa Flavored and Functional Water Market Outlook, by Country, Value (US$ Bn) and Volume (Liters), 2019-2031
10.3.1. Key Highlights
10.3.1.1. GCC Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
10.3.1.2. GCC Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
10.3.1.3. South Africa Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
10.3.1.4. South Africa Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
10.3.1.5. Egypt Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
10.3.1.6. Egypt Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
10.3.1.7. Nigeria Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
10.3.1.8. Nigeria Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
10.3.1.9. Rest of Middle East & Africa Flavored and Functional Water Market by Product Type, Value (US$ Bn) and Volume (Liters), 2019-2031
10.3.1.10. Rest of Middle East & Africa Flavored and Functional Water Market by Sales Channel, Value (US$ Bn) and Volume (Liters), 2019-2031
10.3.2. BPS Analysis/Market Attractiveness Analysis
11. Competitive Landscape
11.1. Product vs Indication Heatmap
11.2. Company Market Share Analysis, 2022
11.3. Competitive Dashboard
11.4. Company Profiles
11.4.1. Talking Rain Beverage Company
11.4.1.1. Company Overview
11.4.1.2. Product Portfolio
11.4.1.3. Financial Overview
11.4.1.4. Business Strategies and Development
11.4.2. HINJ7
11.4.2.1. Company Overview
11.4.2.2. Product Portfolio
11.4.2.3. Financial Overview
11.4.2.4. Business Strategies and Development
11.4.3. Propel
11.4.3.1. Company Overview
11.4.3.2. Product Portfolio
11.4.3.3. Financial Overview
11.4.3.4. Business Strategies and Development
11.4.4. Bai Brands, LLC
11.4.4.1. Company Overview
11.4.4.2. Product Portfolio
11.4.4.3. Financial Overview
11.4.4.4. Business Strategies and Development
11.4.5. Body Armor Nutrition LLC
11.4.5.1. Company Overview
11.4.5.2. Product Portfolio
11.4.5.3. Financial Overview
11.4.5.4. Business Strategies and Development
11.4.6. ‎San Pellecrino Essenza
11.4.6.1. Company Overview
11.4.6.2. Product Portfolio
11.4.6.3. Financial Overview
11.4.6.4. Business Strategies and Development
11.4.7. Bubbly
11.4.7.1. Company Overview
11.4.7.2. Product Portfolio
11.4.7.3. Financial Overview
11.4.7.4. Business Strategies and Development
11.4.8. JUST WATER
11.4.8.1. Company Overview
11.4.8.2. Product Portfolio
11.4.8.3. Financial Overview
11.4.8.4. Business Strategies and Development
11.4.9. Lemon Perfect
11.4.9.1. Company Overview
11.4.9.2. Product Portfolio
11.4.9.3. Financial Overview
11.4.9.4. Business Strategies and Development
11.4.10. Spindrift Beverage Co., Inc.
11.4.10.1. Company Overview
11.4.10.2. Product Portfolio
11.4.10.3. Financial Overview
11.4.10.4. Business Strategies and Development
11.4.11. Perrier
11.4.11.1. Company Overview
11.4.11.2. Product Portfolio
11.4.11.3. Financial Overview
11.4.11.4. Business Strategies and Development
11.4.12. Alkazone
11.4.12.1. Company Overview
11.4.12.2. Product Portfolio
11.4.12.3. Financial Overview
11.4.12.4. Business Strategies and Development
11.4.13. CORE
11.4.13.1. Company Overview
11.4.13.2. Product Portfolio
11.4.13.3. Financial Overview
11.4.13.4. Business Strategies and Development
11.4.14. Essentia Water Inc.
11.4.14.1. Company Overview
11.4.14.2. Product Portfolio
11.4.14.3. Financial Overview
11.4.14.4. Business Strategies and Development
11.4.15. NESTLE SPLASH
11.4.15.1. Company Overview
11.4.15.2. Product Portfolio
11.4.15.3. Financial Overview
11.4.15.4. Business Strategies and Development
11.4.16. Pepsi Co
11.4.16.1. Company Overview
11.4.16.2. Product Portfolio
11.4.16.3. Financial Overview
11.4.16.4. Business Strategies and Development
11.4.17. AHA
11.4.17.1. Company Overview
11.4.17.2. Product Portfolio
11.4.17.3. Financial Overview
11.4.17.4. Business Strategies and Development
11.4.18. The Coca-Cola Company
11.4.18.1. Company Overview
11.4.18.2. Product Portfolio
11.4.18.3. Financial Overview
11.4.18.4. Business Strategies and Development
11.4.19. Groupe Danone
11.4.19.1. Company Overview
11.4.19.2. Product Portfolio
11.4.19.3. Financial Overview
11.4.19.4. Business Strategies and Development
11.4.20. New York Spring Water.
11.4.20.1. Company Overview
11.4.20.2. Product Portfolio
11.4.20.3. Financial Overview
11.4.20.4. Business Strategies and Development
11.4.21. KRAFT Foods
11.4.21.1. Company Overview
11.4.21.2. Product Portfolio
11.4.21.3. Financial Overview
11.4.21.4. Business Strategies and Development

12. Appendix
12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations