According to the research report, the global flavored and functional water market is expected to rise at a CAGR of 11.5% from 2013 to 2019. The overall market value is projected to reach US$36.7 billion towards the end of 2019.
Albany, NY -- (SBWIRE) -- 02/25/2016 -- The flavored and functional water market in 2012 saw significant contribution from multiple countries such as Japan, Italy, Germany, and the U.S. The same time frame saw the Asia Pacific region expand at an above-average growth rate, reaching into double digits. The market research report breaks the flavored and functional water market down into different sections in order to analyze the global and regional outlook of the overall market.
Each section that is included in the global flavored and functional drinks market is divided into multiple segments according to flavors and key regions. The research report also includes major market drivers and constraints along with potential areas of growth.
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The report primarily includes a comprehensive analysis of the global flavored and functional water market in terms of market appeal. Various factors are used to judge the index of appeal including growth rate, areas of expansion, and overall market size. A detailed landscape of the market is also created through the use of Porter's Five Forces Model and key players are profiled.
Overview of the flavored and functional water market
According to the research report, the global flavored and functional water market is expected to rise at a CAGR of 11.5% from 2013 to 2019. The overall market value is projected to reach US$36.7 billion towards the end of 2019. The market's growth is attributed mainly to rising obesity rates, increasing global population, and change in consumer perception towards healthier drinks. More and more consumers are beginning to be attracted towards functional drinks that are high in vitamins, minerals, herbs, and amino acids. Functional drinks are being preferred over conventional aerated drinks due to the former being priced at a more competitive level. Common flavors in the global flavored and functional water market are peach, apple, cherry, lemon, and orange, along with mixed fruit flavor. One of the key marketing and manufacturing factors that promote the functional drinks market is the fact that they do not use preservatives or caffeine and are prepared without carbonation.
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Other factors contributing towards the growth of the global flavored and functional water market are rapid urbanization and increasing disposable incomes. The former holds true especially for countries in Asia, the Middle East, and Latin America. One of the direct reactions of heavy urbanization is growing health awareness, which has caused many to be averse to aerated drinks and partial towards functional beverages. The market receives an additional boost in China due to poor water management that results in polluted water supply in agricultural and industrial areas. Key players have been quite proactive in promoting their functional drinks to a consumer base that is growing largely out of health concerns.
Providing a balanced evaluation of the flavored and functional water market, the report also presents several restraints in the market. Mounting protests against the problems caused by packaging bottles, competition brought forth by substitute drinks, and the challenge of balancing sugar quantity, function, and flavor are some of the factors that pose to threaten the growth of the market. However, the potential in emerging markets is expected to help overcome these hurdles.
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Companies mentioned in the research report
The top players that operate in the global flavored and functional water market are Kraft Foods, Hint Water, PepsiCo, The Coca-Cola Company, Nestle, Group Danone, Sunny Delight Beverages, and Balance Water Company.
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