Rockville, Jan. 16, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global botanical infused drinks market is estimated at US$ 328.4 million in 2023 and is expected to expand at an impressive CAGR of 6.4% during the forecast years of 2023-2033.
Consumption of infused beverages across the globe can be traced back to antiquity. The medicinal power of botanicals is mainly responsible for pioneering the functional beverage market. This makes them an ideal ingredient for manufacturing infused drinks thereby boosting the market growth. Botanicals and beverages have been in close association for ages; however, botanical infused drinks have gained wide acceptance from the millennial population owing to the changing consumer tastes and demand for increased benefits, product transparency from the beverage industry.
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Amongst all factors favouring the sales of botanical infused beverages, exorbitant rates of the ingredients used during the manufacturing process can be a concern for the market growth. Fact.MR suggests that manufacturing affordable infused drinks and expanding their product line according to shifting trends will enable market leaders as well as emerging players to stand out in the competitive beverage industry. Manufacturers incorporating various natural ingredients with an aim to bring the best of nature to everybody’s day-to-day life will ramp up the consumption of botanical infused beverages during the forecast period.
Key Takeaways from Market Study
- The global botanical infused drinks market is projected to expand at an impressive CAGR of 6.4% and be valued at US$ 608 million by 2033.
- The market witnessed 5.8% CAGR for the period of 2018-2022.
- Under source segment, fruits dominate the market with 39% market share in 2022.
- Europe dominated the market with 32% market share in 2022.
- Based on region, botanical infused drinks are expected to increase at CAGRs of 6.6% and 6.1%, respectively, in Oceania and North America
“Rising incidence of chronic diseases will intensify the global botanical infused drinks market in coming years,” says a Fact.MR analyst.
Segmentation of Botanical infused drinks Industry Research
- By Source :
- Roots
- Flowers
- Fruits
- Herbs
- Leaves
- Seeds
- By Drink Type :
- Alcoholic
- Non-Alcoholic
- By Packaging Type :
- Cans
- Bottles
- Jars
- Others
- By Sales Channel :
- Offline
- Modern Trade
- Specialty Stores
- Departmental Stores
- HoReCa
- Online
- Offline
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & ASEAN
- Oceania
- MEA
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Market Development
The growing popularity of botanical infused drinks have influenced the mindful intensions of many leading players such as Britvic Plc, Fever Tree, Fentimans Ltd etc. to craft botanical blends into infusions in their beverages portfolio. Manufacturer focus on re-evaluating and redefining their values and ideals in their production units in order to keep up with the growing millennial shift toward brands that embrace purpose and sustainability. Furthermore, adoption of inorganic market play approaches such partnerships, collaborations, mergers etc. will give the players an opportunity to expand their market presence on a global level.
Competitive Landscape
Manufacturers are continuously altering their business strategies to address multiple challenges faced by them and to compete in the dynamic beverage industry. Adoption of inorganic tactics like mergers, acquisitions and collaborations with emerging players will open a plethora of opportunities for dominant as well as emerging players. In addition, investing in R&D for producing new botanical infused drinks that are sourced from multiple botanicals which can address the growing chronic conditions among the population will increase the profitability of the market players.
- In 2019, Britvic Plc launched infusions of cucumber, lime and mint in their water brand Aqua Libra thereby gaining a prominent position in the Europe market.
Key Companies Profiled
- Britvic Plc
- Bumblezest
- Cotswolds Distillery
- CQ Infused Beverages Ltd
- Fever Tree
- Irish Distillers International Ltd
- Kolibri Drinks
- Powerhouse Beverage Co.
- Sacred Spirits
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global botanical infused drinks, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of source (roots, flowers, fruits, herbs, leaves, seed), drink type (alcoholic, non-alcoholic), packaging type (cans, bottles, jars, others), sales channel (offline sales, online sales) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & ASEAN, Oceania and the Middle East & Africa).
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