FLAVORED AND FUNCTIONAL WATER MARKET ANALYSIS

Flavored And Functional Water MarketSize and Trends

Global Flavored And Functional Water market was valued at US$ 50.03 Bn in 2022, exhibiting a CAGR of 11.91 % in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 123.11  Bn by 2030.

A significant part of our lives is water. In addition to improving the taste of water, including blood regulation, weight management, and hunger control. In addition, it works well in place of soda and other artificial drinks. Instead of drinking aerated, sugary artificial beverages, consumers are gravitating toward healthier choices. Due to customers' growing appetite for beverages with nutrients, the market for flavored and functional water is expanding. Functional and flavor-infused water is a nutritious beverage that gives you immediate energy. Health-related problems have noticeably increased as a result of rapid urbanization and a fast-paced lifestyle. As a result, customers are drawn to goods that are conveniently accessible and do not harm their health. Moreover, flavored and drinking water is easily accessible and comes in attractive packaging and bottles. As a result of meeting consumer demand, the market for flavoured and functional water is expanding more quickly.

Market Trends

• Shifting preferences of consumers toward flavored and functional water

Shifting preferences of consumers toward flavored and functional water due to the growing health wellness trend is augmenting the market growth. Increasing disposable income coupled with the improving lifestyle of the consumers is propelling demand for premium products, thereby fueling the market growth of flavored and functional water. Moreover, the growing demand for this beverage among athletes as functional water possesses various health benefits that are further expected to foster market growth.

• Penetration of key players into a new market for business expansion

Penetration of key players into a new market for business expansion is a key trend in the market and this is expected to bolster the market growth. For instance, in August 2019, Bisleri ties with US co Minerva Group to tap the flavored water market. Bottled water major Bisleri, apart from launching enhanced water in the domestic market, has announced that it is entering the US market with flavored water and vitamin water.