The report “Functional Water Market – Share, Outlook, Trends, Size and Forecasts (2018 – 2024)”, the functional water market is expected to reach USD Million by the year 2024, at a CAGR of 8.5% during the forecast period. Due to increasing number of health conscious consumer’s, functional water market is anticipated to grow higher during the forecast period.
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Functional water is a non alcoholic beverage, which is reformed by adding extra ingredients to provide health and functional benefits. Most commonly used ingredients are vitamins, minerals, acids and vegetables.
Functional water is formed by adding these ingredients to water. Due to its high vitamin and extra-oxygen properties, functional water has become a major non alcoholic beverage.
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Major brands are also looking forward to offer functional water with additional skin benefits, which is expected to promote the growth of functional water market. The size of functional water market is directly proportional to the market growth of non-alcoholic beverages.
Functional water market is extensively increasing accountable to change in beverage consumption habits; carbonated beverages to functional and flavored water; preference has shifted from high sugar. Non-alcoholic beverages are available in different specialty stores, which provide healthy food and beverages, but there are no separate stores for functional water.
Functional glass bottle water accounted for significant share in total market value.
Functional water mostly comes in PET bottles due to the recycling property and also PET bottles are preferred by manufacturers. With advancements in packaging technology, and increasing usage of recyclable packaging, PET bottles are used by manufacturers to supply functional water products to consumers.
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