Functional Beverage Market Share, Growth, Opportunities 2031
Functional Beverage Market Share, Growth, Opportunities 2031
Segments - Functional Beverage Market by Types (Energy Drinks, Fortified Juices, Sports Drinks, Dairy and Dairy Alternative Drinks, and Other Products), Distribution (Supermarkets/Hypermarkets, Drug Stores and Pharmacies, Convenience Stores, Online Retail Stores, and Other Distribution Channels), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028.
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| Report ID :FB-2412
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| 213 Pages
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Report Description
The global functional beverage market size is projected to expand at a CAGR of 6.8% during the forecast period, 2021-2028. The growth of the market is attributed to rising health concerns among the consumers.
Ready-to-drink (RTD) beverages are preferred among consumers strive as it helps to maintain their healthy lifestyles despite their hectic schedules. Millennials are increasingly consuming convenience foods and beverages with a diverse nutritional profile. Growing number of people are adopting fitness activities is expected to spur the market growth. Manufacturers are capitalizing on these factors by developing products such as vegan and plant-based beverages.
Rising trend of nootropic beverages among health-conscious customers is estimated to fuel the growth of the market. Such advancements is anticipated to have significant impact on the global functional beverage industry. Functional beverages are liquids that hydrate the body while also providing nutritional balance. These are fortified beverages that help people of all age group to avoid health problems. It provides numerous health benefits such as boosting immune system, improving mental capability, bone health, and heart health, and controlling cholesterol
Market Trends, Drivers, Restraints, and Opportunities
- Increasing awareness among millennials about functional beverages is projected to drive the market growth.
- The COVID-19 outbreak has encouraged people to consume healthy products, positively influencing the growth of the market.
- Development of natural functional beverages is anticipated to create immense opportunities for the market players.
Scope of the Report
The report on the global functional beverage market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
|
Report Title |
Functional Beverage Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2021 |
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Historic Data |
2019–2020 |
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Forecast Period |
2021–2028 |
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Segmentation |
Types (Energy Drinks, Fortified Juices, Sports Drinks, Dairy and Dairy Alternative Drinks, and Other Products), and Distribution (Supermarkets/Hypermarkets, Drug Stores and Pharmacies, Convenience Stores, Online Retail Stores, and Other Distribution Channels) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
PepsiCo, Red Bull GmbH, Coco-Cola, and Monster Beverage Corporation |
Functional Beverages Market Segment Insights:
Energy drinks segment to account a major market share
Based on types, the market is segregated into energy drinks, fortified juices, sports drinks, dairy and dairy alternative drinks, and other products. In 2020, the energy drinks segment dominated the market, with above 20% market share. This increase is attributed to the rising preference for energy drinks and growing reliance on them for instant energy among the young population.
Consumers' increasing preference for health-oriented beverages has included probiotic food products as a requirement on the list. Furthermore, sale promoting tag lines such as ready-to-drink or on the go have increased demand for probiotic drinks, including kombucha. Consumers are increasingly preferring functional drinks over fruit juices and carbonated beverages. Concerned drinkers are frequently shunning vilified categories, such as carbonates and juices, in favor of healthier choices. Consumer education has been a driving force behind the increased demand for healthy hydration drinks. Growing awareness about fermented drinks with natural ingredients, as well as the increasing acceptance of consuming probiotics, has contributed to the growth of the market.
Supermarkets/hypermarkets segment is anticipated to exhibit a high CAGR
On the basis of distribution channels, the functional beverage market is segregated into supermarkets/hypermarkets, drug stores and pharmacies, convenience stores, online retail stores, and other distribution channels. Most of the functional beverage are sold through supermarkets and hypermarkets, followed by online retail channels. This is due to easy availability and presence of various brands in the arena.
North America is projected to hold a major market share
In terms of regions, the global functional beverage market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America to account a large market share owing to rising demand for functional beverages and growing awareness about the health benefits associated with it. It is expected to dominate during the forecast period. The market in Asia Pacific is estimated to expand at a high CAGR during the forecast period owing to increasing per capita income as a result of the improving economy.
Segments
Segments Covered in the Report
The global functional beverage market is segmented on the basis of
Types
- Energy Drinks
- Fortified Juices
- Sports Drinks
- Dairy and Dairy Alternative Drinks
- Other Products
Distribution Channels
- Supermarkets/Hypermarkets
- Drug Stores and Pharmacies
- Convenience Stores
- Online Retail Stores
- Other Distribution Channels
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- PepsiCo
- Red Bull GmbH
- Coco-Cola
- Monster Beverage Corporation
Competitive Landscape
The major players in the functional beverage market include PepsiCo, Red Bull GmbH, Coco-Cola, and Monster Beverage Corporation.
Companies are engaging in partnerships with supermarkets and hypermarkets to expand their market share.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Functional Beverage Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Functional Beverage Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Functional Beverage Market - Supply Chain
4.5. Global Functional Beverage Market Forecast
4.5.1. Functional Beverage Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Functional Beverage Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Functional Beverage Market Absolute $ Opportunity
5. Global Functional Beverage Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Functional Beverage Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Functional Beverage Demand Share Forecast, 2019-2026
6. North America Functional Beverage Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Functional Beverage Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Functional Beverage Demand Share Forecast, 2019-2026
7. Latin America Functional Beverage Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Functional Beverage Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Functional Beverage Demand Share Forecast, 2019-2026
8. Europe Functional Beverage Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Functional Beverage Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Functional Beverage Demand Share Forecast, 2019-2026
9. Asia Pacific Functional Beverage Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Functional Beverage Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Functional Beverage Demand Share Forecast, 2019-2026
10. Middle East & Africa Functional Beverage Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Functional Beverage Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Functional Beverage Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Functional Beverage Market: Market Share Analysis
11.2. Functional Beverage Distributors and Customers
11.3. Functional Beverage Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
Methodology
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