South Korea Functional Water Market Report and Forecast 2024-2032

South Korea Functional Water Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the South Korea functional water market is projected to grow at a CAGR of 3.4% between 2024 and 2032. Aided by the growing health consciousness among consumers and the burgeoning popularity of beverages with added health benefits, the market is expected to grow significantly by 2032.

Functional water, a relatively novel category in the beverage sector, is purified water infused with added minerals, vitamins, botanicals, and other beneficial ingredients. These enhancements serve not only to deliver hydration but also to provide specific health advantages beyond traditional drinking water. In South Korea, functional water has garnered significant attention as consumers increasingly seek convenient ways to fulfil their nutritional needs and wellness goals.

Several factors are bolstering the South Korea functional water market growth. Firstly, the nation's fast-paced urban lifestyle has led to a surge in demand for on-the-go health solutions. As consumers face time constraints, there is a growing reliance on functional beverages that can address specific health concerns, such as improved digestion, enhanced immunity, or increased energy, without consuming extra time for preparation.

As per the South Korea functional water market analysis, another pivotal factor is the widespread influence of K-pop and Korean dramas, which have popularised a culture of wellness, beauty, and fitness. Korean celebrities' endorsements of functional water brands or their association with health-conscious living have amplified the product's visibility and desirability among the masses.

Additionally, advancements in product formulation and innovation have significantly enriched the functional water offerings in the market and contributed to the South Korea functional water market size. Many brands are incorporating traditional Korean ingredients, like ginseng and green tea extract, capitalising on the well-established health benefits of these components. This blend of modernity and tradition is particularly appealing to consumers, reinforcing their trust in the product's health claims.

The market's growth trajectory is also supported by the burgeoning café culture in South Korea. Contemporary cafés are diversifying their beverage menus to include a range of functional waters, further popularising the product, and propelling the South Korea functional water market demand. Moreover, collaborations between functional water brands and cafes to introduce limited-time offerings or special edition flavours have proven successful in attracting consumers and boosting sales.

Market Segmentation

The market can be divided based on product, type, packaging, distribution channel, and province.

Market Breakup by Product

• Flavored functional water
• Unflavored functional water

Market Breakup by Type

• Vitamins
• Proteins
• Others

Market Breakup by Packaging

• Pet Bottles
• Can
• Others

Market Breakup by Distribution Channel

• Supermarket/Hypermarket
• Convenience Stores
• Speciality Stores
• Online Sales Channel

Market Breakup by Province

• North Chungcheong
• South Chungcheong
• Gangwon
• Gyeonggi
• North Gyeongsang
• South Gyeongsang
• North Jeolla
• South Jeolla
• Jeju

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the South Korea functional water market. Some of the major players explored in the report by Expert Market Research are as follows:

• Nestle S.A.
• Danone SA
• PEPSICO, INC.
• THE COCA-COLA COMPANY
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.