Consumer Fascination towards Functional Hydration Experience to Underscore Growth in Flavored and Functional Market from 2020 to 2030: TMR

ALBANY, N.Y., Sept. 10, 2020 /PRNewswire/ --  The global flavored and functional water market is set to grow at a stellar pace over the forecast period of 2020 to 2030. The compound annual growth rate that it is anticipated to chart is 11.6%, adding to the market valuation considerably. Additionally, players in the market will hustle to tap into novel opportunities, which are expected to emerge as a result of sturdy growth rate.

Transparency Market Research (TMR) notes, "World over, more people are opting for a healthier lifestyle as awareness regarding growing incidence of a string of lifestyle diseases and their causes is catching up. This is leading to notable shift towards healthier foods and drinks from carbonated and sweetened variants."

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Key Findings of Growth in Global Flavored and Functional Water Market Study:

• Market players are directing massive efforts towards launching new and exotic flavors in the market to carve off a larger market share
• Asia Pacific region is set to provide profitable opportunities to players in the market over the forecast period

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Key Drivers of Growth in Global Flavored and Functional Water Market:

• Growing focus on fitness due to increasing healthcare challenges emerging in a world marked by sedentary lifestyle, poor dietary habits is helping market grow substantially
• Increasing awareness regarding food choices and increasing disposable income are supporting growth in the market
• Effective marketing campaigns are bringing forth knowledge of benefits and different flavors, leading to higher demand
• Players in the market have a keen focus on innovation and this is set to pave way for growth over the forecast period

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Regional Analysis of Global Flavored and Functional Water Market:

• Currently, the North American region enjoys dominance in the market owing to significant contributions to growth from the United States of America
• Growing demand for functional hydration experience and high disposable income in the region are helping the region maintain a dominant position

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Competitive Landscape of Global Flavored and Functional Water Market:

The vendor landscape of global flavored and functional water market has witnessed a number of players entering the fray in the recent past. A result of this is that the market landscape has witnessed a number of product launches, which have driven the market worth higher in a major way. Additionally, it is important to note that this is also the reason behind the fierce competition that is at play in the market.

Some of the most proactive and distinguished players in the global flavored and functional water market are Hint Water, Groupe Danone, The Coca-Cola Company, PepsiCo, and New York Spring Water, among others. In its report on the market's, Transparency Market Research has extensively covered these players – financials, company information, product details, growth strategies, recent developments and so on.

Of the wide range of strategies that the players opt for to lay claim to a larger share of the market, focus on innovation and new product development are quite crucial. A number of top-tier players are directing efforts towards advanced packaging and are coming up with new and exotic flavors.

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The report segments the global flavored and functional water market as:

Geography

• Europe
• North America
• Asia-Pacific
• Rest of the World

Product

• Flavored Water
• Functional Water

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