We have effectively made superoxygenated water widely available for mass consumption for the first time to radicalize the health market. On one hand, we are creating a new consummer product in the form of a functional bottled water which has the potential to provide holistic benefits to replace some of the medicines over half of us take on a daily basis. In 2015, the global market for functional water grew by 12% from 5,500 million litres of drinks and a total of 10 billion euros in value. While on the other hand consuming crops higher in nutrients and vitamins also gives us health benefits to help reduce the massive quantities of pharmaceuticals entering our environment. Furthermore, irrigating with OxygenAte water will stimulate a high yield low, impact agriculture where farmers are using less fertilizer, fungicides and water to cultivate more crops and generate higher incomes and are simultaneously better prepared for changes with a warming climate. The sales of smart irrigation systems which help provide similar benefits are predicted to grow at 13.1%, reaching €2B by 2026.
We will strive to attain contracts for fixed amounts of production, roughly 3.5 million litres of bottled OxygenAte water annually per bottler-accounting for 4% of the water they currently produce. For the smart irrigation sector, we will aim to work with two smart irrigation providers at the beginning with the aim to sell 50 licenses each around Europe, starting in Spain and Italy. For the bottled water sector, our goal by 2023 will be to establish license agreements with 20 water bottlers (3.3% of all bottlers), starting in the European countries. We anticipate that we will generate roughly €7 million in sales from this channel alone by 2023. For the agricultural segment, our goal by 2023 will be to have acquired 900 licenses with farmers around Europe, 0.26% of the total market of large farmers in Europe, our main target market. By 2023, revenue generated from this stream will represent a significant part of our income (€12m).