Europe Functional Water Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.25 Billion |
| Market Size (2029) | USD 1.74 Billion |
| CAGR (2024 - 2029) | 6.77 % |
| Market Concentration | High |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
Europe Functional Water Market Analysis
The Europe Functional Water Market size is estimated at USD 1.25 billion in 2024, and is expected to reach USD 1.74 billion by 2029, growing at a CAGR of 6.77% during the forecast period (2024-2029).
Functional water products usually contain vitamins, minerals, acids, and herbs, which are associated with supporting the immune system, cognitive function, and gut health. They also contain additives, known as aquaceuticals, that offer extra nutritional value. Therefore, with the growing trend toward health and wellness among consumers, functional water is gaining popularity and is increasingly being sold in global markets. Consumers' inclination toward non-alcoholic beverages leads to the consumption of functional beverages.
The demand for functional drinks is massive compared to fruit juices and carbonated beverages. Furthermore, the increasing trend of sugar-free or natural-sweetener-based functional water with fewer calories is anticipated to drive market growth during the forecast period. Moreover, the expansion of retail industries and the ease of availability of functional drinks through e-commerce, retail, and grocery stores contribute to market growth. Companies are launching products to cater to changing consumer tastes and preferences. For instance, in April 2023, Coca-Cola launched Glacéau Vitaminwater, the low-calorie drink, in Switzerland. It contains a variety of vitamins and minerals and is available in three flavors, which are "Blueberry and lavender," "Raspberry and apple," and "Citrus and guava".
Europe Functional Water Market Trends
Supermarkets/Hypermarkets are the Most Preferred Channel for Distribution
Strategic product positioning on dedicated shelves for products, including functional water bottles, influences impulse purchase behavior among potential consumers. The significant factors behind this popularity are attractive discount offers, loyalty program schemes, and cashback schemes. Business expansion and the proliferation of supermarkets and hypermarkets bolster sales of functional water further. Supermarkets/hypermarkets increase shelf visibility through display and assortment strategies. Additionally, they feature various brands' availability to cater to consumers' diverse needs. Thus, the sales of functional water through these channels have increased in the past few years. Intense competition exists among prominent manufacturers, inducing strong competition among brands to differentiate products on their shelves, reposition their products, cater to particular consumer needs, and target audiences effectively.
Functional Water is Popular in the United Kingdom
Due to the hectic lifestyle and the rise in the number of working people, there is an increase in the consumption of functional water as it is a convenient way to incorporate vitamins and minerals into the diet. As a substantial number of people residing in the United Kingdom have diabetes, these customers tend to avoid sugary drinks in beverages. According to Public Health England, in 2021/22, around 3.3 million people in England were registered with Type 2 diabetes. Moreover, with the increasing health consciousness, consumers are opting for healthy alternatives for sodas, juices, and other sugary beverages, thereby propelling market growth.
Europe Functional Water Industry Overview
The European functional water market is concentrated due to the presence of various global and regional players in the industry. The key players are focusing on several strategies, such as new product developments, expansions, mergers and acquisitions, and partnerships, to meet the increasing demand from consumers and expand their market share. Some of the key players in the market include The Coca-Cola Company, PepsiCo Inc., Danone SA, Vitamin Well AB, and Nestle SA.
Europe Functional Water Market Leaders
-
The Coca-Cola Company
-
Vitamin Well AB
-
Danone S.A.
-
PepsiCo, Inc.
-
Nestle SA
*Disclaimer: Major Players sorted in no particular order
Europe Functional Water Market News
- March 2023: Vitaminwater introduced two flavors, ‘With Love’ and ‘Forever You,’ to its zero-sugar product range and an innovative reformulation for all six zero-sugar flavors.
- June 2022: Vitaminwater partnered with famous star Lil Nas X to launch the “Nourish Every You” campaign with six videos featuring his track “Give Me One Chance.” Each video featured a unique Vitamin water flavor: focus, shine, energy, xxx zero, gutsy, and ice.
- March 2022- Gatorade Fit, a new electrolyte beverage with no added sugar, artificial tastes or sweeteners, or artificial colors, was introduced by PepsiCo as a fitness product. According to the manufacturer, the drink contains electrolytes from sea salt and watermelon, antioxidants, and vitamins A and C.
Europe Functional Water Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Demand for Healthy Hydration Products
4.1.2 Advertisement and Promotional Activities Gaining Prominence
4.2 Market Restraints
4.2.1 Inclination Toward Other Functional Beverages
4.2.2 High Cost Associated with Functional Water
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Flavored Functional Water
5.1.2 Plain Functional Water
5.2 By Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Convenience/Grocery Stores
5.2.3 Online Stores
5.2.4 Other Distribution Channels
5.3 By Country
5.3.1 United Kingdom
5.3.2 Russia
5.3.3 Spain
5.3.4 France
5.3.5 Germany
5.3.6 Italy
5.3.7 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 The Coca-Cola Company
6.3.2 PepsiCo Inc.
6.3.3 Disruptive Beverages Inc.
6.3.4 Acqua Minerale San Benedetto SpA
6.3.5 Vitamin Well AB
6.3.6 Danone SA
6.3.7 JAB Holding Company (BAI)
6.3.8 Viwa Vitamin Water
6.3.9 Ohmg Water
6.3.10 Hint Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Functional Water Market Segmentation
Functional water is formulated using acids, herbs, raw fruits, or vegetables that provide various health advantages. It falls under the non-alcoholic beverage category.
The European functional water market has been segmented by product type, distribution channel, and geography. The market studied has been segmented by product type into flavored and plain functional water. The market studied has been segmented by distribution channel into convenience/grocery stores, hypermarkets/supermarkets, online channels, and other distribution channels. This study also involves the analyses of countries such as Germany, the United Kingdom, Italy, France, Russia, Spain, and the Rest of Europe. The market sizing and forecasts have been done for each segment based on value (USD).
| By Product Type | |
| Flavored Functional Water | |
| Plain Functional Water |
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience/Grocery Stores | |
| Online Stores | |
| Other Distribution Channels |
| By Country | |
| United Kingdom | |
| Russia | |
| Spain | |
| France | |
| Germany | |
| Italy | |
| Rest of Europe |
Europe Functional Water Market Research FAQs
How big is the Europe Functional Water Market?
The Europe Functional Water Market size is expected to reach USD 1.25 billion in 2024 and grow at a CAGR of 6.77% to reach USD 1.74 billion by 2029.
What is the current Europe Functional Water Market size?
In 2024, the Europe Functional Water Market size is expected to reach USD 1.25 billion.
Who are the key players in Europe Functional Water Market?
The Coca-Cola Company, Vitamin Well AB, Danone S.A., PepsiCo, Inc. and Nestle SA are the major companies operating in the Europe Functional Water Market.
What years does this Europe Functional Water Market cover, and what was the market size in 2023?
In 2023, the Europe Functional Water Market size was estimated at USD 1.17 billion. The report covers the Europe Functional Water Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Functional Water Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Functional Water Industry Report
The European Functional Water Market Report provides a comprehensive industry analysis, focusing on various segments such as product type and distribution channels. This industry report highlights the market share, market size, and market growth of functional water in Europe. The analysis covers key regions including Germany, the United Kingdom, Italy, France, Russia, Spain, and the rest of Europe.
The report offers an extensive market forecast, providing valuable insights into the market trends and market outlook for the coming years. It also includes market predictions and market review, showcasing the market segmentation and market value of different functional water products. The industry research and industry statistics presented in the report are crucial for understanding the market dynamics and identifying market leaders.
Furthermore, the report example and report PDF download options enable stakeholders to access detailed industry information and industry reports. This market analysis is essential for research companies and businesses looking to understand the market data, industry sales, and industry size of the European functional water market.
Overall, the report provides a thorough market overview, emphasizing the industry trends and industry outlook. It serves as a valuable resource for understanding the market growth and making informed business decisions based on the comprehensive industry research and market forecast provided.
Europe Functional Water Market Report Snapshots
