Global Flavored and Functional Water Market - Trends and Forecast

Albany, NY -- (SBWire) -- 01/09/2019 --The global flavored and functional market is estimated to achieve a valuation of US$36.7 bn by the end of 2019 from value worth US$23.8 bn back in 2015, expanding at a critical CAGR of 11.50% within the forecast period from 2013 to 2019. Countless players are going into associations with local players to improve their product mastery and advancement. This technique additionally causes them in expanding their global outreach.

Key Takeaways:

Lucrative development scopes offered by developing nations are foreseen to urge players to tap on these regions, in this way permitting the global flavored and functional water market to grow rapidly.

Fast urbanization, and increase in disposable income, are inciting individuals around the globe to become more health-conscious, converting into the more prominent take-up of flavored and functional water.

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Based on product, the segment of flavored water is likely to show a more noteworthy CAGR than functional water, attributable to the expanding preference towards products that offer both medical advantages and taste. As per the geography, Asia Pacific region is expected to be leading the development until 2019, comprising of 44% of the general market. The rise in disposable income and fast urbanization have increased the awareness with respect to flavored and functional water in the mentioned region.

Increase in Obese Population to Help Market Growth

Because of the rising concerns in regards to obesity and other related illnesses, the tendency towards low-calorie drinks has risen considerably since past couple of years. This, thus, has an inescapable positive effect on the global market for flavored and functional water.

Fast urbanization, increase in disposable income, and evolving ways of life, are inciting individuals around the globe to become more health-conscious, which is converting into the more prominent take-up of flavored and functional water. Players are additionally taking extra efforts to create more beneficial beverages that better adjust to the demands of consumers, which is working for the market. Other than that, the surge in overall geriatric population is additionally feeding the development of the flavored and functional market.

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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.