The Global Functional Beverages Market is anticipated to increase to a value of more than more than $200 billion by 2028.
Functional Beverages: Introduction
Functional beverages are non-alcoholic beverages giving medical advantages past their dietary benefit, decidedly influencing or utilitarian zeroing in on the body or mind to advance the condition of wellbeing and prosperity.
Functional beverages regularly contain modern ingredients like crude organic product, minerals, nutrients, spices, protein, amino acids, probiotics, and a few counterfeits added substances.
The expansion in the health cognizance across the globe goes about as one of the central point’s driving the development of functional beverages . The development in health awareness among customers prompting expanded utilization of better eating regimens and ascend in rates of ongoing infections, for example, diabetes and disease speed up the market development. The surge in utilization of nutritive comfort and strengthened beverages and innovative work and extension of creation ability to further develop pertinence further impact the market.
Furthermore, increase in spending on food, orders on food fortress by government associations, media effect on customer, ascend in extra cash and ascend in buyer consciousness of health decidedly influence the functional beverages market. Moreover, new innovative work places and new plants to assist the functional beverages with stretching out beneficial open doors to the market players in the figure time of 2022 to 2029.
Then again, sanitation concerns and guidelines are relied upon to block the market development. Absence of consistency in guidelines relating to different ingredients is projected to challenge the functional beverages market.
The Global Functional Beverages Market size was $125.39 billion in 2020, and is anticipated to increase to a value of more than more than $200 billion by 2028, growing at a compound annual growth rate (CAGR) of over 7%.
Market segmentation: Analysis
The Global Functional Beverages Market is segmented by type, function, distribution channel, and geographic region.
The key market players for global Functional Beverage market are listed below:
- Monster Energy
- RED BULL
- THE COCA-COLA COMPANY
- Archer Daniels Midland (ADM)
- Campbell Soup
- Del Monte Pacific
- Dr. Pepper Snapple Group
- JDB Group
- Kraft Heinz
- Living Essentials
- Otsuka Pharmaceutical
- TC Pharmaceutical Industries
- The Hain Celestial Group
- Unilever, Uni-President
- White Wave Foods
Market segment by Type, covers
- Energy Drinks
- Sports Drinks
- Nutraceutical Drinks
The Energy drinks market was the largest segment of the functional beverages market fragmented by type, representing more than 20% of the absolute in 2019.
Market segment by Application can be divided into
- Convenience Stores
- Drug Store/ Pharmacies/Health Store
- Online Retail
On the basis by function – Health & Wellness, and Wealth management.
The wellbeing and health portion was the biggest fragment of the functional beverages market divided by work, representing 80% of the all out in 2019.
On the basis by distribution channel – Brick and Motor, Online, and Specialty Foodservice Stores.
The brick and motor portion were the biggest fragment of the functional beverages market divided by work, representing 70% of the total in 2019.
Considering the influence of COVID-19 on the global Functional Beverages Market, this report analyzed the impact from both global and regional perspectives. From production end to consumption end in regions such as North America, Europe, China, and Japan, the report put emphasis on analysis of market under COVID-19 and corresponding response policy in different regions.
Market segment by Region, regional analysis covers
- North America (United States, Canada and Mexico)
- Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
- South America (Brazil, Argentina, Colombia, and Rest of South America)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
Asia Pacific was the biggest area in the worldwide functional beverages market, representing more than 35% of the absolute in 2019.
Years considered for this report:
Historical Years: 2016-2020
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2021-2026