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The market for functional and flavored water can be expected to expand at a value based CAGR of 12.3% and show an increase in revenue from US$ 39,071.2 Mn to around US$ 117,323.1 Mn by 2033.
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The functional water market is experiencing a surge in demand attributable to its perceived health benefits and nutritional properties. Consumers are increasingly turning to beverages fortified with additional vitamins and proteins to maintain hydration over extended periods. Particularly, athletes and marathoners seek beverages that sustain their hydration levels through minimal consumption. Consequently, there is a rising demand for functional water infused with a variety of flavors, nutrients, proteins, vitamins, minerals, botanicals, and oxygen, aligning with evolving consumer preferences towards value-added hydration. This trend is anticipated to propel the growth of the functional water market during the forecast period, as outlined in the Functional and Flavored Water Market Outlook (2023-2033). Key Trends in the Market for Functional and Flavored Water: Increasing Demand for Functional Water: A growing emphasis on health and wellness globally has led to heightened consumption of clean, flavored, and hygienic drinking water. This shift has resulted in a significant rise in per capita consumption of flavored and functional water, driven by an aging population and increased health consciousness among consumers. Moreover, factors such as rapid urbanization, rising disposable income, improved standards of living, and the expansion of retail chains are supporting market growth, with companies aligning marketing strategies to promote these beverages. In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at- https://www.persistencemarketresearch.com/market-research/flavored-functional-water- market.asp Prevalence of Obesity and Lifestyle Disorders: Rising obesity rates and increasing awareness of healthy lifestyles among urban populations are key drivers for the global flavored and functional water market. As consumers become more health-conscious, there is a shift away from artificial flavored and carbonated beverages towards healthier alternatives like flavored water. The attractiveness of functional water, with its health benefits and comparable pricing to flavored water, further contributes to market growth. Cosmetic Benefits: Manufacturers are capitalizing on the association between water consumption and beauty regimes, particularly in developing nations where increasing income levels allow for the consumption of premium products. This trend is anticipated to positively impact market growth, especially as industrialization leads to polluted water supplies and increased demand for packaged drinking water. Refreshing Taste: The unique flavors of flavored water encourage increased water consumption, particularly among individuals looking to lose weight. Infused water, with its distinctive flavor, motivates people to drink more water, promoting better hydration and overall health. Environmental Concerns: The use of plastic bottles for packaging flavored water poses environmental and health concerns, limiting market growth. Plastic packaging contributes to pollution and carbon emissions, presenting challenges for sustainability-conscious consumers and regulatory bodies. Regional Analysis:
Asia Pacific Opportunities: While the flavored and functional water market is well-established in the US and Europe, Asia Pacific presents lucrative prospects due to its large population and increasing consumer awareness of functional beverages. Market players are likely to target this region, driven by the demand for healthier alternatives to carbonated soft drinks and the growing willingness of consumers to spend on functional beverages. Segmentation: 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 In conclusion, the functional and flavored water market is characterized by evolving consumer preferences towards healthier hydration options and sustainability considerations. Key trends such as increasing demand for functional water, prevalence of obesity and lifestyle disorders, cosmetic benefits, refreshing taste, and environmental concerns are shaping market dynamics and driving innovation among manufacturers. About Persistence Market Research: Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges. Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a
sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part. Contact Persistence Market Research Teerth Technospace, Unit B-704 Survey Number 103, Baner Mumbai Bangalore Highway Pune 411045 India Email: sales@persistencemarketresearch.com Web: https://www.persistencemarketresearch.com