"We Envision Growth Strategies Most Suited
to Your Business"
The global functional water market size was USD 12.86 billion in 2020. The market is likely to grow from USD 13.80 billion in 2021 to USD 22.97 billion in 2028 at a CAGR of 7.55% in the 2021-2028 period.
This information is published by Fortune Business Insights, in its report, titled, “Functional Water Market Size, Share & COVID-19 Impact Analysis, By Ingredient (Micronutrients, Botanical Extracts, Other Functional Ingredient), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, and Others), and Regional Forecast, 2021-2028.”
According to our expert research analysts, the growth of the market is owing to the factor that the rapid evolution in hydrating experience; water guaranteeing sleep quality and water for the body-detox are few of the fascinating inventions under this grouping.
Growth in Sales amid COVID-19 due to Health Aids Linked with Functional Water
The unfortunate event of lockdown compelled people to work from home as well as work out at home, which principally influenced the sales of energy and sports drinks. Contrariwise, with more leniency in protocols, the market for the above-mentioned product has begun achieving grip again. The demand for a product with performance amplification, perceptive improvement, immune improving, and other properties is rising, which is a favorable characteristic for the market growth.
Cloud Water Unveils Cloud Water + Line; Set to Mark Colossal Progress
Cloud Water launches its Cloud Water + line, which is an immune-backing sparkling beverage. The line-up involves ingredients such as complete of the commended daily grant of vitamin D and zinc coupled with organic wildflower honey. Cloud Water + is obtainable in 12-ounce slim cans for a recommended retail price of USD 2.79 for a can, as well as in 12-packs.
To get a detailed report summary and research scope of this market, click here:
Drivers and Restraints:
Product Inventions and Presentations by Manufacturers to Navigate Market Growth
The formation of innovative products and the launch of novel flavors by manufacturers is another factor that is estimated to fuel the growth of this market in the upcoming future. Portfolio development, i.e., novel product development, stays as one of the most favored tactics by market players. This is expected to boost the global functional water market growth.
Key players in the market are always on a lookout for applying efficient strategies in order to make a noticeable difference in their sales.
For instance, in March 2021, Evian, which is a brand of Danone S.A., a multinational food products corporation, got involved in the flavored functional sparkling water class with the unveiling of its novel variety of evian + products based in the U.S.
List of Key Players Mentioned in the Market Report:
Table of Segmentation:
Value (USD Billion)
By Distribution Channel