The global market for functional waters increased by around 12% in the last year to reach a volume of 5.5bn litres, according to a new report from a food and drinks industry consultancy.
The market also rose by an estimated 11% in value to reach $12bn, Zenith International said. It is forecast to double over the next five years, driven primarily by rapid growth in the Asia-Pacific region.
The report on flavoured functional water also identifies nine 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.
Still water dominates the flavoured functional water market, accounting for 90% of global volume, while consumption of flavoured functional waters is highest per person in North America, Western Europe and Asia-Pacific. China, the United States and Japan lead in terms of volume by country.
Zenith International chairman Richard Hall said: “Functional waters provide added benefits for health-conscious consumers at a substantial price premium for the industry. 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.”
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