The latest research study “Functional Beverages Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global functional beverages market size reached US$ 125.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 205.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.75% during 2023-2028.
Functional beverages represent non-alcoholic drinks prepared using non-traditional ingredients, including raw fruits, probiotics, vitamins, minerals, amino acids, dietary fibers, etc. They can be categorized into sports drinks, juices, energy drinks, herbal tea, dairy-based beverages, etc. These functional beverages assist in delivering numerous nutrients and bioactive compounds to the body, such as antioxidants, micronutrients, fatty acids, fibers, plant extracts, etc.
They aid in improving health, boosting energy, enhancing athletic endurance, maintaining hydration levels, strengthening joints, regulating weight loss, preventing the risks of cancer and cardiovascular ailments, etc. Consequently, functional beverages are highly favored by athletes and fitness lifestyle users across countries.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Functional Beverages Market Trends and Drivers:
The growing global food and beverage (F&B) segment and the shifting preferences toward healthy and high-nutritional food products, owing to the increasing health consciousness, are primarily driving the functional beverages market. Additionally, the elevating participation of the masses in sports and allied activities and the escalating need for effective beverages that will provide instant energy and prevent dehydration are acting as significant growth-inducing factors.
Furthermore, the introduction of several vegan protein-induced, organic, cannabidiol (CBD)- and plant-based, allergen-free, and non-genetically modified organisms (non-GMO)-based functional drinks is also positively influencing the market growth. Besides this, the development of innovative packaging solutions, which include single-serve and ready-to-drink (RTD) packaging, to address the rising demand for the product is further stimulating the global market. Moreover, the inflating investments in promotional activities and celebrity endorsements by leading market players to broaden the customer base and the expanding product availability through online retail platforms are anticipated to fuel the functional beverages market over the forecasted period.
Functional Beverages Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Amway Corp., Campbell Soup Company, Clif Bar & Company, GNC Holdings LLC (Harbin Pharmaceutical Group Co. Ltd), The Kraft Heinz Company, Monster Beverage Corporation, National Beverage Corp., Pepsico Inc., Red Bull GmbH and The Coca-Cola Company.
The report has segmented the market on the basis of type, distribution channel and end user.
Type:
- Energy Drinks
- Sports drinks
- Dairy-based Beverages
- Juices
- Others
Distribution Channel:
- Supermarket and Hypermarket
- Specialty Stores
- E-commerce
- Others
End User:
- Athletes
- Fitness Lifestyle Users
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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