According to a new report published by Allied Market Research, titled, “Functional Beverages Market by Type, Distribution channel and End user: Global Opportunity Analysis and Industry Forecast, 2021-2030,”

The functional beverages market share is expected to reach $200,080.3 million by 2030, registering a CAGR of 5.9% from 2021 to 2030.

Functional beverages are nonalcoholic drinks which provides physical and mental health benefits and promote the state of health and well-being. Raw fruit, vitamins, herbs, vegetables, amino acid, probiotics, milk and some artificial additives are used to formulate the functional beverages.

Rising demand for sports and energy drinks among athletes and individuals engaged in intense physical activities majorly drives the functional beverages market growth. The growing athlete community and an increasing number of sportspersons in developing countries are some of the other factors driving the market. In addition, rising consumer inclination towards physical fitness and an increased number of fitness centers and health clubs are expected to fuel the market growth. Manufacturers are focusing on expanding their product portfolio by innovating new flavors with added health benefits. They are targeting different age groups owing to the popularity of sports drinks among teenagers and adults. The production of functional beverages with natural ingredients, such as natural sweeteners, is expected to propel the market growth by providing an opportunity to the manufacturers to add value to their products.

On the basis of end user, the athletes segment was accounted for considerable share in global product market and is expected sustain its share throughout functional beverages market forecast period. Growing participation of the people in national and international level sports and popularity and benefits of sports drinks are likely favor the growth of the functional beverages industry through athletes segment. Furthermore, active and increasing participation of the women in Olympics is further supporting to increase the global number of athletes which likely to garner the growth of the product market during the forecast period.

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According to the functional beverages market opportunities, region wise, Asia-Pacific has been gaining significant traction for functional beverages and is expected to sustain its traction during the forecast period. Rise in demand for convenience beverage is one of the major factors that promote the growth of the energy drinks market in Asia-Pacific. Furthermore, widening media exposure and aggressive marketing by energy drink companies have contributed to the adoption of energy drinks by regional manufacturers. Moreover, increase in trend of workaholic culture and rise in sports & adventurous activities are expected to boost the demand for energy drinks. Increase participation of the people in sport at national and international level special in India and China and enrolment for fitness and health clubs signifies the increasing number of athletes and fitness freak people in Asia Pacific region, which in turn, strengthen the customer base for functional beverages.

The players operating in the functional beverages industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Red Bull, Dupont Nutrition Biosciences ApS, MaxiNutrition, Clif Bar, The Coca-Cola Company, Monster Beverage Corporation, Meiji Co., Ltd, Nestlé S.A., National Beverage Corp., and Pepsico, Inc...

Key Findings Of The Study

The functional beverages market size was valued at $ 110,148.9 million in 2020, and is estimated to reach $ 200,080.3 million by 2030, registering a CAGR of 5.9% from 2021 to 2030.
In 2020, depending on type, the dairy-based beverages segment accounted for $ 7,215.1 million, garnering 6.6% of the global market share.
On the basis of distribution channel, the E-Commerce segment acquired $ 12,555.8 million, exhibiting 11.4% of the global market share.
In 2020, by end user, the athletes segment was valued at $35,319.6 million, accounting for 32.1% of the market share.
U.S. was the most prominent market in North America in 2020, and is projected to reach $ 53,683.3 million by 2030, growing at a CAGR of 4.2% during the forecast period.