Functional Beverages Industry | Business Growth and Forecast to 2023


Posted December 22, 2020 by taursuraj56

Functional Beverages Industry Global Information by Type (Energy Drinks, Sports Beverages), Distribution Channel (Store Based, Non-store Based), Function
 
Market Overview

Functional beverages refer to the non-alcoholic drinks that contain beneficial ingredients like vitamins, minerals, probiotics, dietary fibers, added raw fruits, amino acids, and more for revitalizing the drinkers. Functional beverages provide several health benefits to the various organs such as the gastrointestinal tract and heart and enhance the immune functions. The global market for functional beverages is experiencing continuous growth since the last few years. The increase in health-consciousness among the people in recent times is a major driving factor in market growth.

The increase in the demand for healthy options as an alternative to the different carbonated drinks will further boost the growth of the global functional beverage market. The rise in the working-class population is yet another prominent driving factor in market growth. Moreover, the growth of the obese population and sedentary lifestyle increases the need for hydrations and effective weight management. All these factors are likely to create new opportunities for expansion of the global market of functional beverages.

Competitive Landscape

Notable players in the Functional Beverages Industry include Nestle S.A. (Switzerland), The Coca-Cola Company (U.S.), PepsiCo Inc. (U.S.), Fonterra Co-operative Group Ltd. (New Zealand), Mondelez International Inc. (U.S.), Hain Celestial Group (U.S.), Monster Beverage Corporation (U.S.), Kraft Heinz Company (U.S.), Campbell Soup Co. (U.S.), and Danone (France).

Market Segmentation

The global market of functional beverages is segmented based on distribution channel, type, function, and geographical region.

Based on the distribution channel, the global functional beverages market consists of store-based and non-store based. The store-based segment is expected to acquire a leading position during the forecast period.

Regional Analysis

Based on geographical region, the global functional beverage market is segmented into North America, Asia Pacific, Europe, and the rest of the world.

Europe is expected to occupy the largest market segment in the coming years. The growing preference of the consumers for a healthy diet is a major driver of the market growth in the region.

North America occupies the second position in the global market of functional beverages. The United States is the main contributor to the market growth of the North America region.

Asia Pacific region is projected to exhibit the highest CAGR during the forecast period. India, Japan, and China are the major contributors to the region.

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Last Updated December 22, 2020