The functional water market is expected to grow at a 6.2% CAGR from 2023 to 2033, increasing from USD 15,234.39 million in 2023 to USD 27,281.72 million by 2033. This growth is driven by rising demand for flavored functional waters, celebrated for their refreshing taste and enhanced nutritional profiles, with popular flavors like lemon, berry, and lime leading the charge.
Innovations in flavor and packaging are significantly boosting the market, as flavored functional waters are gaining popularity for their ability to enhance mental stamina by reducing stress and promoting relaxation among health-conscious consumers. Market players are focusing on low-calorie options and investing in effective marketing strategies to support this trend.
Key drivers of market expansion include the benefits of healthy hydration, nutritional value, and the refreshing qualities of functional ingredient-infused waters. Noteworthy advancements in this sector feature products aimed at improving sleep quality and aiding body detox. Functional beverages are increasingly favored over traditional soft drinks due to their lower sugar content and absence of synthetic ingredients like artificial colors, flavors, and preservatives.
The growing demand for fortified beverages enriched with essential nutrients—such as vitamins, minerals, amino acids, and proteins—is expected to propel the functional ingredient-enhanced water market. As consumers become more aware of obesity and diet-related issues, the food and beverage industry is focusing on incorporating fiber into drinks to promote benefits like calorie reduction, weight management, and improved digestive health.
Increased public interest in health and wellness is shifting the focus toward functional nutrition, with consumers seeking fortified options that provide additional benefits, such as enhanced energy, relaxation, mental clarity, and overall health support. In response, manufacturers are introducing products that go beyond basic hydration. For example, PepsiCo Inc. has launched Drift Well, a beverage designed to promote relaxation before bedtime, containing 200 mg of L-theanine and offering 10% of the daily magnesium requirement.
Key Takeaways
- The functional water market is expected to capture a CAGR of 6.2% during the forecast period 2023 to 2033.
- Growing popularity of functional water among the working class and millennial population, as well as creative product advancements, are likely to improve and accelerate the market growth over the projection period.
- North America dominated the functional water market.
Competitive Landscape
Prominent Players in the market
- Danone
- Coca-Cola
- Pepsico
- Dr. Pepper Snapple Vitamin Well AB
- Triamino Brands LLC
- New York Spring
- Herbal Water
- Vichy Catalan Corporation
- San Benedetto
- Unique Foods (Canada)
Key Developments
- October 2022 – CENTR Brands Corporation announced the addition of CENTR Enhanced, a non-CBD functional sparkling water, to its growing array of health and wellness products.
- July 2022 – As a part of Flow Beverage Corp.’s most recent product launch, the Flow Vitamin-Infused Water range of products was offered to consumers in three new organic flavors: Cherry, Citrus, and Elderberry.
- March 2022 – Nirvana Water Sciences Corp. introduced their Nirvana HMB + Vitamin D3 spring water as part of Expo West in Anaheim, California. Nirvana HMB + Vitamin D3 is one of the most recent additions to the repertoire. It provides both muscular rehabilitation and immunological support.
- May 2021 – PepsiCo Inc., a renowned worldwide food and beverage business, introduced Soul boost, improved sparkling water produced with beneficial additives. The drink comes in two flavors: Lift and Ease. The Lift has 200 mg of ginseng, which aids in mental stamina, and Ease contains 200 mg of theanine, which aids in relaxation.
- March 2021 – Nestlé S.A. announced the acquisition of Essentia Water, a premium functional water brand located in Washington. The company’s portfolio is being expanded to include international mineral and premium water brands, as well as healthy hydration products such as functional water.
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Key Segments Profiled in the Market
By Type:
- Vitamin
- Protein
- Others
By Distribution Channel:
- Specialty Stores
- Supermarket/Hypermarket
- Online Stores
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
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