Portland, OR, Oct. 07, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global functional water market was estimated at $5.22 billion in 2020 and is expected to hit $10.95 billion by 2030, registering a CAGR of 7.8% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Consumer inclination toward proper nutritional intake based water and increase in obese and diabetic populations across the globe drive the growth of the global functional water market. On the other hand, availability of numerous health drink alternatives restrains the growth to some extent. However, surge in adoption in developing and developed economies and eco-friendly packaging of functional water are expected to create lucrative opportunities in the industry.
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COVID-19 scenario-
- The outbreak of the pandemic has had a mixed impact on the global functional market. When disruptions in the supply chain affected the market, rise in adoption of functional water in the post-pandemic scenario has created new opportunities in the industry.
- The market players are also adopting new strategies to cope up with the current scenario.
The global functional water market is analyzed across product, type, packaging, distribution channel, and region. Based on product, the flavored functional water segment accounted for the major share in 2020, holding more than half of the global market. The same segment would also exhibit the fastest CAGR of 8.8% throughout the forecast period.
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Based on type, the vitamin segment generated the highest share in 2020, accounting for more than half of the global market. The protein segment, however, is projected to manifest the fastest CAGR of 11.9% from 2021 to 2030.
Based on region, the market across North America held the lion’s share in 2020, garnering nearly two-fifths of the global market. The Asia-Pacific region, however, is expected to cite the fastest CAGR of 10.1% by the end of 2030. The other provinces studied in the report include Europe and LAMEA.
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The key market players analyzed in the global functional water market report include Coca Cola, Dr Pepper Snapple, Nestle, Group Danone, Hind, Sunny Delight Beverages, Kraft Foods., Tata Global Beverages, Sunsweet Growers Inc., Bridgepoint Group plc., PepsiCo, Suntory Holdings Ltd., Trimino Brands, Disruptive Beverages Inc. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
