Functional Waters To Double By 2020
The global market for functional waters surged ahead in 2015, rising by an estimated 12 % in volume to 5,500 million litres and 11 % in value to $12,000 million, according to…
The global market for functional waters surged ahead in 2015, rising by an estimated 12 % in volume to 5,500 million litres and 11 % in value to $12,000 million, according to a new report from leading food and drinks industry consultancy Zenith International. The market is forecast to double over the next 5 years, primarily driven by rapid growth in Asia Pacific.
The 2016 Zenith Report on Flavoured Functional Water Innovation identifies 9 key areas of focus for new product development initiatives since 2013 – natural ingredients, natural sweeteners, diversified flavours, energy waters, beauty and wellness waters, vitamin waters, protein waters, innovative functionality and minimalist packaging.
58 in-depth brand profiles offer product images as well as detailed information such as launch date, packaging type and size, pricing, ingredients, variants and marketing. These are analysed under 6 headings – functional claims, functional ingredients, still waters, sparkling waters, children’s waters and packaging.
“Functional waters provide added benefits for health conscious consumers at a substantial price premium for the industry,” commented Zenith Chairman Richard Hall. “The most common added ingredients are vitamins and minerals alongside herbs and fruit flavours. These are generally combined to provide a targeted package of taste, convenience and lifestyle with a wellbeing appeal.
Our 2016 report brings together all the latest in product development around the world and is intended to serve as an ideal reference for any company seeking to create or expand a presence in this rapidly growing market,” he concluded.
Among other points highlighted in the Zenith report:
- Still water dominates the flavoured functional water market, accounting for 90 % of global volume.
- Consumption per person is highest in North America, Asia Pacific and West Europe.
- China, the United States and Japan lead in terms of volume by country.
- The top 3 brands are Mizone from Danone, Glacéau Vitaminwater from Coca-Cola and Propel from PepsiCo.
The 2016 Zenith Report on Flavoured Functional Water Innovation contains profiles on 58 brands launched between 2013 and 2016 across 5 regions under 6 categories.