Functional Beverages Market Opportunities and Prominent Trends by 2028
The functional beverages market is projected to reach US$ 145,146.05 million by 2028 from US$ million 85,728.85 in 2021; it is expected to grow at a CAGR of 7.8% from 2021 to 2028.
Functional beverages are ready-to-drink beverages and are non-alcoholic in nature that incorporates non-conventional ingredients. The absolute most normal ingredients found in functional beverages incorporate spices, minerals, nutrients, amino acids, and a few extra crude fruits or vegetables. Functional beverages offer unequivocal health-related benefits that go past broad everyday dietary admission. It offers an assortment of health benefits with the impact of added ingredients, for example, safe framework fortifying, further developed cholesterol the executives, mental energy, further developed heart health, working on bone health, and other benefit-related with vision and eye health.
The scope of our recent study on " Functional Beverages Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Energy Drinks, Sports Drinks, Fortified Juices, Functional Water, and Others) and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others)" includes the description of factors governing the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments. It also entails the market share analysis.
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Early buyers will receive 10% customization on reports. The functional beverages market is projected to reach US$ 145,146.05 million by 2028 from US$ million 85,728.85 in 2021; it is expected to grow at a CAGR of 7.8% from 2021 to 2028.
The nutrient profile of functional beverages includes proteins, amino acids, vitamins, minerals, probiotics, among others. These beverages provide energy, boost hydration, and fulfill the body’s daily nutritional requirements. Amid the hectic lifestyles, functional beverages are becoming increasingly popular among consumers owing to their concerns about health, immunity, and fitness.
Based on distribution channel, the functional beverages market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The convenience stores segment held a prominent market share in 2020. Convenience stores are retail establishments that sell products of different brands. They are the most preferred retail channel due to the ease of reach. Manufacturers of functional beverages offer their products through convenience stores owing to significant footfall in these stores.
Based on geography, the functional beverages market is segmented into—North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). North America held the largest market share in 2020. The rising number of health-conscious individuals in the region is one of the primary factors driving the growth of the functional beverages market; calorie consciousness among people compels them to consume zero-sugar and low-calorie energy drinks and sports drinks. The increasing participation in sports and recreational activities also supports the regional market, as functional beverages help in maintaining the energy levels in the body, enhancing nutrient absorption of the body, and keeping the body hydrated. Moreover, the flourishing trend of veganism is bolstering the demand for plant-based functional beverages.
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A few players operating in the functional beverages market are PepsiCo; The Coca-Cola Company; Nestlé; KRAFT Foods; GENERAL MILLS, INC.; Danone S.A.; Monster Energy Company; Red Bull; CAMPBELL SOUP COMPANY; The Wonderful Company LLC. among few others.
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