Global Flavored and Functional Water Market Poised to See Fastest Growth in Asia Pacific, says Persistence Market Research

New York City, New York, August 28, 2015: The outlook for the global flavored and functional water market looks very promising, according to a latest study published by Persistence Market Research. The report, titled ‘Global Market Study on Flavored and Functional Water: Asia Pacific to Witness Highest Growth by 2019,’ projects the market at a valuation of US$36.7 billion by 2019. This marks a massive leap from the market’s 2012 valuation of US$17.2 billion. Based on these forecasts, the CAGR of the global flavored and functional water market is pegged at 11.5% between 2013 and 2019.

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The Asia Pacific market is brimming with opportunities for expansion, with the demand for flavored and functional water gathering steam here. Much of this demand stems from the expanding urban population base, which is more focused on wellbeing and is willing to spend on new products that are positioned thus. A United Nations report states that the global urban population will soar from 3.4 billion in 2009 to over 6 billion by 2050. Thanks to this trend, the market for flavored and functional water in Asia Pacific will continue to expand at a double-digit rate over the report’s forecast period.

China is a very important market from the standpoint of both volume sales and revenue, the report observes. Alarmingly high levels of air and water pollution in China have driven consumers toward bottled water. This, coupled with the health consciousness and high purchasing power of the average Chinese consumer, makes for a favorable setting for the growth of flavored and functional water brands. Market leaders have already spotted this opportunity and are positioning functional and flavored water as an integral part of fitness and beauty regimes. According to the report’s findings, innovation in both product formulation and marketing will be the key differentiator between the market leaders and the laggards.

Some of the leading brands in the flavored and functional water market are The Coca-Cola Company, Nestle Water, Hint Water, PepsiCo, Groupe Danone, Kraft Foods, and others. Many of these (such as Groupe Danone and The Coca-Cola Company) already hold a sizeable share of the functional and flavored water market in Asia Pacific; many others are venturing into the region with ambitious investments. However, most companies are betting on countries such as China, Japan, India, Indonesia and Australia for forays and growth. Hence, it will be some time before the other economies in Asia Pacific boast of a full-fledged flavored and functional water market.

Some of the traditional markets, where the growth of the flavored and functional water market has been remarkable, are: Germany, the U.S., Japan, and Italy. The report identifies these as the top countries in the global flavored and functional water market.

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The report segments the global market on the basis of two key products: Flavored water and functional water. A senior analyst from PMR says, “The functional water segment will demonstrate better growth than flavored water as consumers are seeking higher nutrition from the products they consume. This works in the favor of the functional water market.”

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