Functional Water Market Size, Share, Growth Analysis, By Distribution Channel(Supermarkets/Hypermarkets, Convenience Stores, Online Retail, Others.), By Ingredient(Micronutrient, Botanical Extract, Others), By Product(Flavoured and Unflavoured), By Packaging(Pet Bottles, Can, and Others), By Region - Industry Forecast 2024-2031

Functional Water Market size was valued at USD 14.11 billion in 2019 and is poised to grow from USD 15.1 billion in 2023 to USD 27.76 billion by 2031, growing at a CAGR of 7% in the forecast period (2024-2031).

The COVID-19 pandemic has had a tremendous influence on the world, with functional water products experiencing rising demand in every location. According to our data, the market grew by 8.33 percent more in 2019 than it did on average between 2017 and 2019. When the pandemic is finished, this market's demand and growth will resume to pre-pandemic levels, which will explain the increase in CAGR.

Functional ingredient enhanced water's benefits for healthy hydration, affordable nutrition, and refreshing thirst quenching are some of the key growth drivers in the international industry. Water for the body's detoxification and water to ensure good sleep quality are two interesting ideas in this category that have emerged quickly. Due to their decreased sugar level and lack of artificial additives including colours, flavours, and preservatives, functional beverages have firmly established themselves as preferred beverages over soft drinks include preservatives and flavours. Functional ingredients enhanced sales of water are thus benefited by the general trend among consumers to switch to healthier alternatives such artificial and high-sugar beverages. The primary consideration impacting all functional consumers' purchasing decisions is still price. Drinks, including improved water, but manufacturers defending their pricey options with the diversity of considered, larger sales margins are anticipated. The breakthrough in technology for bottling (packing), along with an improving retail distribution environment increases the market for enhanced water with beneficial elements

US Functional Water Market is poised to grow at a sustainable CAGR for the next forecast year.