Flavored water is a category of bottled mineral, spring or purified water containing flavors. It contains natural mineral water, fruit juice from concentrate (apple, strawberry, blackberry and orange), natural flavors and natural or artificial sweetener. Functional water is a derivative of flavored water with added functional ingredients such as botanicals, vitamins, minerals and oxygen.
Emerging markets such as countries in Asia, Latin America and the Middle East have witnessed rising urbanization and increasing disposable income, which act as an opportunity for the overall flavored and functional water market. The U.S., Germany, France, Italy and Japan were the top flavored and functional water markets in 2012. Asia Pacific is emerging as a strong flavored and functional water market registering double-digit growth in 2012.
Increasing obesity rate, rising aging population and changing consumer preferences are the major growth drivers for the global flavored and functional water market. Growing health concerns is restraining the masses from consuming carbonated or artificial flavored drinks and compelling them to opt for flavored and functional water. Flavored and functional water are generally priced similar to carbonated drinks, which reduces the switching costs for the consumers, thus increasing their attractiveness. Major growth challenges for the industry include threat of substitutes and increasing campaigns against packaging bottles.
Increasing urbanization has increased the awareness levels of the consumer regarding the products that help in their wellbeing. The increasing income levels have also enabled the consumers to spend on premium products thus providing great opportunity for the flavored and functional water market players to focus in these markets. Currently, obesity is a major issue for adults. With growing awareness about obesity and obesity-linked diseases, people have started to choose low calorie drinks over high calorie drinks. Flavored and functional water provide a healthy option to the health conscious consumers. This is also one of the key reasons, which help to increase the overall flavored and functional water market.
The report covers in-depth analysis flavored and functional water market, by product segment (Flavored Water and Functional Water) for the period from 2010 to 2019. In addition, the current market dynamics including the drivers, restraints, trends and recent developments have been captured throughout the report in industry overview section. The flavored and functional water market for the major countries in each of the four geography, North America, Europe, Asia Pacific and Rest of the World includes historical and forecasted market sizes (2010-2019), in terms of value. North America covers the scenario in the U.S. Europe region covers the scenario of the U.K., Germany, Italy and France. Asia-Pacific region highlights the flavored and functional water market in Japan, India and China. The competitive scenario section of the flavored and functional water market report includes the positioning of different companies on the basis of their geographical presence and number of brands they offer in the flavored and functional water market. It also includes the positioning of major markets (countries) on the basis of their per capita expenditure on flavored and functional water and expected growth rates.
Some of the major companies operating in Flavored and Functional water are Hint Water, Nestle Water, Herbal Water, PepsiCo, The Coca-Cola Company and Groupe Danone, New York Spring Water, Kraft Foods, Balance Water Company and Sunny Delight Beverage Company. These companies offer multiple brands in the market such as Aquafina FlavorSplash, Ayala’s Herbal Water, Dasani Drops, Nestle Pure Life and Mizone.
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