As major competitors roll out new models in an effort to diversify their product lines and broaden their customer bases, competition in the fragmented global functional water market is fierce and intensifying. Leading market players are utilizing a wide range of growth strategies. The majority of businesses have concentrated on introducing new products and growing their production facilities in developing nations. Innovation, partnerships, strategic alliances, working with key actors, and boosting local and international distribution networks are all examples of strategies.For instance, in July 2021, National Beverage Corporation, an American beverage manufacturer, released a trio of new flavors of the sparkling water under its LaCroix brand. 'PepsiCo, Inc. (Propel Fitness Water)', 'The Coca-Cola Company (smartwater)', 'Nestlé Waters (Acqua Panna)', 'Talking Rain Beverage Company (Sparkling Ice)', 'Karma Culture LLC (Karma Wellness Water)', 'New Age Beverages Corporation (Coco-Libre)', 'Agua Enerviva LLC (Enerviva)', 'The Alkaline Water Company Inc. (Alkaline88)', 'Phure Water LLC (Phure Water)', 'Kona Deep Corporation (Kona Deep)', 'Pervida Inc. (Pervida Immune)', 'Fonterra Co-operative Group (Anchor Blue)', 'Unique Foods Canada Inc. (Vit-Hit)', 'FÏNLEY (The Coca-Cola Company)', 'Asahi Group Holdings, Ltd. (Asahi inryo)', 'Superbee Network Inc. (Superbee Honey Water)', 'Aqua ViTea LLC (Aqua ViTea Kombucha)', 'Hint Inc. (Hint Water)', 'Lucozade Ribena Suntory Limited (Lucozade Sport Lite)'