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Functional Water Market to Expand at 7.4% CAGR, Supermarkets and Hypermarkets to Dominate Distribution Channels Till 2026

The Global Functional Water Market to Reach US$ 18.24 Bn at 7.4% CAGR Forecast till 2026, Changing Lifestyle to Boost Market, says Fortune Business Insights

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Pune, India -- (SBWIRE) -- 06/17/2019 -- The study is titled, "Functional Water Market Size, Share and Global Trend by Ingredient (Micronutrients, Botanical Extracts), Distribution Channel (Supermarkets/ Hypermarkets, Convenience Stores, Online Retail) & Geography Forecast till 2026." As per the study, the market is expected to exhibit a CAGR of 7.4% and reach a valuation of US$ 18.24 Bn by the end of 2025, from US$ 10.34 Bn in 2017.

Fortune Business Insights foresees the mass merchandizers such as the hypermarkets and supermarkets segment to exhibit an impressive growth among other distribution channels. This is owing to the variety, accessibility, and availability of functional water in hypermarkets and supermarkets. However, the rising inclination towards personalized purchasing is likely to sway growth trend in favor of online retail stores and convenience stores.

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The changing preferences with regards to beverage consumption among consumers and rising preference for non-alcoholic drinks are driving the global functional water market, says Fortune Business Insights in their new study.

Rising Awareness about Nutritional Properties of Functional Water to Augment Growth

Functional water is gaining popularity because it offers several nutritional properties and they are available at affordable prices. Furthermore, consuming functional water can promote better hydrating experience in terms of sleep quality endurance and body-detox. These innovations are likley to bode well for the global market for functional water.

According to the report, the demand for functional and flavored water will rise in response to the increasing prevalence of obesity worldwide. In addition to this, changing lifestyle and irregular food habits are tipping scales in favor of the consumption of flavored water. Innovative advertising and marketing strategies are also anticipated to encourage consumers to opt for functional water.

However, the market may witness challenges as some of the most popular beverage companies are offering no added sugar or flavors to gain traction. Furthermore, the already established market of carbonated water and their innovative product launches may turn tables against functional water, thus, hampering the market in the long run. Additionally, several campaigns by government and non-government organizations against the use of unnatural, flavored, and functional water may cause hindrance to the Global Functional Water Market during the forecast period.

Nevertheless, rapid urbanization and increasing disposable income of people are likely to offer better growth opportunities to the market in the coming years. Also, advancement in food processing and better packaging and advertising strategies adopted by the market players will help the enable it exhibits growth at an accelerated pace in the coming years.

North America to Emerge Dominant Exhibiting High Demand for Functional Water

The rising demand in the U.S. and Canada is favoring growth of the functional water market in North America. The report predicts North America to remain the dominant regional market through the course of the forecast period. The sale of bottled water has crossed the sale of aerated drinks in the U.S., which is expected to favor the market's expansion in North America. The region will also benefit from the presence of several leading players within its boundaries.

On the other side, the functional water market in Asia Pacific is anticipated to exhibit growth at a faster pace. This is owing to the rising awareness about the benefits of functional water in the developing countries.

Most players are focusing on advertising and marketing tactics to gain traction in the market. Some of the key players operating in the global functional water market are Nirvana Water, Tata Global Beverages, Nestle S.A., Allure Organics, Groupe Danone, PepsiCo, Balance Water Company LLC., The Alkaline Water Co., Dr Pepper Snapple Group Inc., and The Coca-Cola Company.

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