In terms of revenue, the Global Functional Drinks Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 7.5% from 2023 to 2030.
The market for functional beverages is growing quickly and offers a number of business opportunities. The market is being driven by some factors, such as growing consumer demand for convenience, increased health consciousness, product innovation and development, expanding distribution channels, social media influence, shifting demographics, and technological advancements.
These factors have created a dynamic environment where businesses may adapt to changing consumer demands, capitalize on emerging trends, and differentiate themselves from the competition. Strict regulatory regulations, poor consumer knowledge, high product development costs, flavor considerations, competition from traditional beverages, price sensitivity, supply chain challenges, and the necessity for scientific confirmation are further market barriers for . To get beyond these restrictions, you'll need to invest in research and development, marketing that works, and strategic planning.
Key Highlights from the Report
· Based on Type, Energy drinks dominate the market. The growing popularity of healthy lifestyle and fitness, the proliferation of gyms and fitness centers, 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 becoming popular 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.
· In terms of Region, Asia Pacific held the most significant market share in 2021 and is expected to be the most gainful market during the forecast period. The main driver of the market growth for functional energy drinks, fortified/functional plant-based, and malt-based hot drinks is the high prevalence of cardiovascular disease, osteoporosis, and arthritis, along with the rising demand for convenience beverages and consumers' changing lifestyles in the Asia Pacific for the Functional Drinks market.
In the market for , consumers are increasingly looking for natural and clean-label products. They expect drinks with recognizable, natural components that have had little processing and don't contain any artificial chemicals. manufactured with organic, non-GMO, and sustainably sourced ingredients are in high demand as a result of this trend.
The market for has also benefited from the rise in popularity of vegan and plant-based diets. Functional beverages made from plants are becoming more popular. Examples include those with plant proteins, nut milk, or plant extracts. Customers who prefer animal-free options and are looking for the health advantages of plant-based substances are catered to by these products.
The world's ageing population is driving the demand for that treat specific age-related health issues like joint health, cognitive function, and cardiovascular health. Functional beverages that include nutrients like collagen, omega-3 fatty acids, or vitamins that address these aging-related issues are becoming more and more popular.
The market for functional beverages is driving up mostly due to the rising popularity of e-commerce. The increased usage of smartphones and the increase in e-commerce portals have made it possible for vendors to offer online.
Creating and producing with particular health advantages can be expensive. The expenditures of research and development, finding functional components of the highest caliber, running clinical trials, and guaranteeing product safety can all add up to substantial upfront costs. Small and medium-sized businesses who want to enter the market or introduce new items may find that these fees are a barrier.
Asia Pacific market is expected to witness a noteworthy development with a significant growth rate over the analysis period. The main driver of the market growth for functional energy drinks, fortified/functional plant-based, and malt-based hot drinks is the high prevalence of cardiovascular disease, osteoporosis, and arthritis, along with the rising demand for convenience beverages and consumers' changing lifestyles in the Asia Pacific for the Functional Drinks market.
The Global Functional Drinks Market is Segmented as follows
- Energy Drinks
- Sports Drinks
- Dairy-based Bevearges
- Prebiotic and probiotic drinks
- Other Types
- Distribution Channel
- Specialty Stores
- Other Channels
- End User
- Fitness Lifestyle Users
- Weight loss
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Functional Drinks Market is
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)
The Global Functional Drinks Market Scope can be Tabulated as below
|Market Size Provided for Years
|2017 - 2030
|2017 - 2021
|2023 - 2030
|Regions & Counties Covered
|Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis