Published Date : 12 Aug 19 | Views: 52 | Industry : Food & Beverages
The global Functional Water market is primarily segmented into three segments such as by packaging, by ingredient, and by sales channel. By ingredients the market is segmented into protein, minerals, vitamins, antioxidants and Others. By sales channel, the market is segmented into specialty stores, convenience stores, supermarket/hypermarket, and online. Because of the wide range of products available in supermarket/hypermarket is forecasted to enhance the growth of the global Functional Water market.
By packaging, pet bottles and glass bottles are the important segments of the market. Among these two segments, PET bottles segment is likely to dominate the global market due to various advantages such as recyclability, lightweight, and easy in transportation. In order to reduce the production cost, PET bottles have gone through various technological development because of this the market is likely to witness the market growth.
Europe is likely to acquire a major share of the global Functional Water market. Rising health awareness could be one of the important factors for boosting the market growth in Europe. According to analysts, Europe is likely to lead the global market followed by North America. Growing urbanization and increasing health consciousness among people are some of the factors which are creating a positive impact on the functional water market in the Asia Pacific region.
The top players operating in the market Danone, Nestle, Coca-Cola, Dr. Pepper Snapple, Groupe Danone, PepsiCo, Hint Water, New York Spring Water, Balance Water Company, Unique Foods, Sunny Delight Beverages Company, Trimino Brands LLC, Herbal Water, Vitamin Well AB, San Benedetto, and Vichy Catalan Corporation. Among these, Danone, Coca-Cola, and PepsiCo are projected to showcase their prominence in the global market. Market participants are expected to bring innovation and uniqueness in their product portfolio to maintain a strong position in the global Functional Water market.
Fortified Beverages to Drive the Demand for Functional Water
Consumption of carbonated and sugary beverages have a negative impact on health, therefore, it is foreseen to trigger the growth of the global Functional Water market. Zero-calorie content functional water is expected to gain high demand in the forecasted period. Fitness enthusiasts are preferring beverages with low to zero sugar content. Functional Water is aquaceutical and non-alcoholic in nature and consumption of Functional Water gives various health benefits that are anticipated to grow the global Functional Water market. Increasing demand for fortified beverages with vital nutrients could be another important factor for supplementing the market growth.