WASHINGTON, July 19, 2023 (GLOBE NEWSWIRE) -- The Global Functional Drinks Market is valued at USD 201.2 Billion in 2022 and is projected to reach a value of USD 358.8 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 7.5% over the forecast period 2023-2030.
One of the most significant economic areas is the Functional Drinks business, and consistent expansion is projected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight of the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers, as well as their current situation and future prospects. It also goes into detail about the global drivers of the demand for Functional Drinks, including rising investment requirements, developing technology, and new laws.
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Market Overview
According to Vantage Market Research, some of the key factors anticipated to accelerate the Functional Drinks market growth over the forecast period. The demand for functional drinks that offer certain health benefits is growing as consumer health consciousness rises. Due to their frequent inclusion of vitamins, minerals, antioxidants, probiotics, and/or compounds that boost energy, functional beverages are seen as healthier alternatives to traditional soft drinks.
Increasingly hectic and mobile lifestyles have increased the demand for quick and ready-to-drink beverages. Functional drinks that provide comfort, mobility, and usefulness can be advantageous to consumers searching for quick and easy ways to improve health and well-being.
The expansion of distribution channels, such as supermarkets, convenience stores, online retail platforms, and specialized health stores, has boosted the accessibility and availability of functional drinks to a larger customer base. As a result of easy contact consumers everywhere, the market has expanded. The high incidence of osteoporosis, cardiovascular disease and arthritis, as well as the rising demand for convenience beverages and consumers' changing lifestyles in the Asia-Pacific region, are the primary factors driving the market growth for functional energy drinks, fortified/functional plant-based, and malt-based hot drinks.
Market Dynamics
Rising age related health issues to Drive the Market
The ageing population of the world is driving the need for functional drinks that address particular age-related health issues like joint health, cognitive function, and cardiovascular health. It's becoming common to find functional beverages that contain vitamins, omega-3 fatty acids, or nutrients like collagen to help with these aging-related problems.
Increased E-commerce activities to Promote Market Growth
The market for functional beverages is growing primarily as a result of e-commerce's expanding appeal. Vendors can now sell functional drinks online because to the growth of e-commerce portals and the ubiquity of smartphones.
Top Players in the Global Functional Drinks Market
- PepsiCo Inc. (U.S.)
- The Coca-Cola Company (U.S.)
- Monster Beverage Corporation (U.S.)
- Red Bull GmbH (Austria)
- GSK PLC (UK)
- Nestlé S.A. (Switzerland)
- Dr Pepper Snapple Group (U.S.)
- National Beverage Corporation (U.S.)
- Meiji Holdings Company Ltd. (Japan)
- Koios Beverage Corporation (Canada)
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Top Trends in Global Functional Drinks Market
- One trend that Vantage Market Research (VMR) expects to see in the Functional Drinks industry is the customers are becoming more interested in natural and clean-label products while shopping for functional drinks. They demand beverages with easily recognizable, natural ingredients that have undergone little processing and don't include any artificial chemicals. As a result of this trend, functional drinks made with organic, non-GMO, and sustainably sourced ingredients are in great demand.
- Another trend that VMR predicts will continue in the Functional Drinks industry is the growing acceptance of vegan and plant-based diets has boosted the market as well. Plant-based beverages that serve a purpose are gaining popularity. Examples include products that contain nut milk, plant extracts, or plant proteins.
Top Report Findings
- Based on Type, Energy drinks dominate the market. The growing popularity of fitness and healthy lifestyle, the proliferation of gyms and fitness centres, and the growing commercialization of sporting events in a number of countries are all contributing factors to the segment's growth.
- Based on Distribution Channel, E-commerce segment dominates the market. The segment is developing as a result of factors like rising internet usage in rural regions and a high rate of online shopping adoption among millennials and customers with jobs.
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Top 10 Players Generates Nearly Half the Total of the Global Functional Drinks Market Revenue
The report also found that the largest players in the Functional Drinks market are technology providers such as PepsiCo Inc. (U.S), The Coca-Cola Company (U.S), Monster Beverage Corporation (U.S), Red Bull GmbH (Austria), GSK PLC (U.K), Nestlé S.A. (Switzerland), Dr Pepper Snapple Group (U.S), National Beverage Corporation (U.S), Meiji Holdings Company Ltd. (Japan) and Koios Beverage Corporation (Canada). As per latest report published by Vantage Market Research, top 10 companies are responsible for generating more than 45% revenue of the market.
Energy Drinks Category in Remote Healthcare Market to Generate a Substantial Amount of the Global Segment Revenue
The market was led by energy drinks, which had the greatest revenue share of 42%. The major constituents in energy drinks are caffeine, which produces stimulation, and taurine, which is essential for skeletal muscle growth and cardiovascular function. Sports drinks are more prevalent in developing countries because of the rising popularity of physical and sporting activities, but energy drinks are the preferred functional drink type in established economies like the U.S. and Canada due to their high caffeine content.
Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on Functional Drinks Market Forecast Report (2023-2030).
Global Functional Drinks Market Segmentation
By Type
- Energy Drinks
- Sports drinks
- Dairy-based beverages
- Juices
- Prebiotic and probiotic drinks
- Others
By Distribution Channel
- Supermarket and Hypermarket
- Specialty Stores
- E-Commerce
- Others
By End User
- Athletes
- Fitness Lifestyle Users
- Others
By Application
- Health
- Wellness
- Weight loss
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 201.2 Billion |
| Revenue Forecast by 2030 | USD 358.8 Billion |
| CAGR | 7.5% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | PepsiCo Inc., The Coca-Cola Company, Monster Beverage Corporation, Red Bull GmbH, GSK PLC, Nestlé S.A., Dr Pepper Snapple Group, National Beverage Corporation, Meiji Holdings Company Ltd., Koios Beverage Corporation |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/functional-drinks-market-2187/customization-request |
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