Functional Beverages Market is also expected to touch an approximate valuation of USD 200,050.6 Million by 2030
Functional Beverages Market
Functional
beverages contain ingredients such as minerals, herbs, raw fruit, probiotics,
and artificial ingredients. It provides nutritional value, and it shows a
positive impact on the body and mind. Functional beverages fulfil the food and
beverage deficiencies. The growing development of large retail stores such as
supermarkets and hypermarkets, and specialty stores for functional beverages
availability is driving the Functional Beverages Market by
increasing its sales rate.
The
functional beverages market size is also expected to touch an approximate
valuation of USD 200,050.6 Million by 2030-end. Market Research Future (MRFR)
projects that the functional beverages market could record a growth rate of
5.6% between 2022 and 2030 Today’s generation is more into fitness enthusiasts
and inclining toward a healthy lifestyle is another chief factor driving
the Functional
Beverages Market Analysis The awareness
among people to participate in national and international level sports is
increasing athletes’ numbers, further accelerating the market in the forecast
period. The major industrial manufacturers are launching products to define
their tastes to meet the need of a growing number of casual users of sports and
energy drinks. Moreover, the distribution channel is playing a major role in
the functional beverages market growth. The specialty store, supermarkets, and
hypermarkets contribute to the market’s growth.
Market Segments
The Functional Beverages Market is segmented into type,
distribution channel, end-user, and function.
The
type of fragment of the market is segmented into Energy Drinks, Sports Drinks,
Functional Fruits and Vegetable Juices, Prebiotic and Probiotic Drinks, Dairy
Alternative Beverages, Functional Dairy Products, Water and Teas, and Coffee.
The
distribution channel of the market is fragmented into store-based and
non-store-based. The store-based segment includes supermarkets and
hypermarkets, specialty stores, departmental stores, etc. The non-store based
is categorized into E-Commerce, online retailing, and others.
The
end-user fragment has athletes, fitness lifestyle users, and others. The
function section of the market is comprised of Energy & Rejuvenation,
Health & Wellness, and Hydration and Weight Management.
Competitive Landscape
The Key Functional Beverages Market Players use a variety of competitive
methods such as acquisition, merger, and collaboration. Consumers' growing
health consciousness is encouraging businesses to focus more on developing
innovative, high-quality functional beverages to obtain a competitive advantage.
The major key players included are:
Nestle S.A.(Switzerland), The Coca-Cola Company (U.S.), PepsiCo Inc.
(U.S.), Halen Brands Inc. (U.S.), Fonterra Co-operative Group Ltd. (New,
Zealand), Mondelez International Inc. (U.S.), GacLife (U.S.), Monster Beverage
Corporation (U.S.), Kraft Heinz Company (U.S.), Campbell Soup Co. (U.S.),
Danone (France
Regional Analysis
According
to the geographical status, the Functional Beverages Market is
distributed in major regions such as North America, Europe, Asia Pacific
regions, and other remaining parts of the globe.
The
European region has captured the highest market share in the past years. The
European market will achieve a significant growth rate in the future years.
North America is the next leader in the market due to the wider functional
beverage options offered by the prominent manufacturers, along with attractive
packaging to grab the attention of the targeted customers.
The
APAC region will grow at a high rate in the forecast period due to the rise in
consumer awareness regarding health issues. The wide choices of functional
beverages among the public is another region driving the regional market. The
change in lifestyles of Asian consumers for higher demand for convenience
beverages is driving the sales of functional plant-based, functional energy
drinks and malt-based hot drinks to grow steadily.
Industry News
In
May 2022, Koios will announce its KOIOS nootropic functional beverages to
approve the placement in over 600 CVS locations such as Texas, Tennessee,
Missouri, New Jersey, California, Florida, Indiana, and New York. CVS is
considered the largest retail pharmacy in the US and the largest corporation in
the world.
Frequently
Asked Questions (FAQ):
what
are CAGR is the Functional Beverages Market projected to grow in the forecast
period (2022-2030)?
The
functional beverages market size of 200,050.6 million is expected to grow at a
CAGR of 5.6% during the Forecast Period 2022-2030.
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