The global Functional Drinks Market size is expected to reach USD 353.4 billion by 2030, registering a CAGR of 7.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. Rising health awareness in several countries, globally, has prompted consumers to switch from regular soft drinks with high sugar content to healthier substitutes with functional ingredients that provide health benefits.
Accelerated innovation and technological advancements in food engineering, nutrition, and biochemistry are facilitating manufacturers to develop innovative nutritious beverages. The market for functional drinks is expanding quickly as a result of the significant consumer shift toward adopting various diets, such as keto and vegan. Despite their busy schedules, people tend to lead a healthy lifestyle by buying healthy products thereby fueling the product demand. The rising sports industry and increasing inclination of the consumers towards the gym is increasing demand for the sports drinks and energy drinks, thus propelling the product demand.
Energy drink contains high levels of stimulant ingredients, such as caffeine, coupled with supplements such as vitamins, minerals, carnitine, etc. This ingredient helps to enhance mental alertness as well as physical performance. The increasing popularity of energy drinks among teenage consumers is expected to propel the functional beverages market growth in the forecast period. Increasing health concerns and awareness among consumers of a healthy lifestyle is further increasing demand for the herbal energy drinks in the foreseeable timeframe.
Easy accessibility of the functional drinks such as energy drinks and sports drinks on e-commerce platforms owing to high internet penetration in developed countries is expected to boost the market. Furthermore, increasing focus on developing plant-based drinks by major manufacturers for the consumers who have environmental concerns or adopting vegetarian diets are some other factors supporting the functional drinks market growth during the forecast period.
Europe is predicted to grow significantly in the coming years owing to increasing demand for the functional food & beverages in the region. Germany accounted for the highest revenue share in the market in 2021. Increasing demand for the product innovations in energy drinks among the youngsters is encouraging manufacturers to launch products with various flavors; fortified with vitamins, minerals, etc. this factor would further boost growth of the German energy drinks market. Additionally, sale of the functional drinks is raising as a result of the presence of major energy drink manufacturers such as Monster Energy Company and Red Bull.
Related Press Release@ Functional Drinks Market Report
Functional Drinks Market Report Highlights
- Energy drinks held the largest market share during 2022 in the type segment owing to the rising number of fitness enthusiasts and increasing sports activities, globally
- Hypermarkets/Supermarkets held the largest market in 2022, owing to the increasing availability of various products with competitive pricing coupled with the rising adoption of the working class population
- Asia Pacific is estimated to attain the highest CAGR from 2023-2030. The growth can be attributed to the rising population with chronic illnesses such as diabetes and the growing commercialization of the sports events in China and India
Functional Drinks Market Report Scope
Report Attribute
Details
Market size value in 2023
USD 220.6 billion
Revenue forecast in 2030
USD 353.4 billion
Growth rate
CAGR of 7.1% from 2023 to 2030
Base year for estimation
2022
Historical data
2017 - 2021
Forecast period
2023 - 2030
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Functional Drinks Market Segmentation
Grand View Research has segmented the global functional drinks market based on the type, distribution channel, and region:
Functional Drinks Type Outlook (Revenue, USD Billion, 2017 - 2030)
- Energy Drinks
- Sports Drinks
- Nutraceutical Drinks
Functional Drinks Distribution Channel Outlook (Revenue, USD Billion, 2017 - 2030)
- Hypermarkets/Supermarkets
- Specialty Stores
- Online
- Others
Functional Drinks Regional Outlook (Revenue, USD Billion, 2017 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- Australia & New Zealand
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- South Africa
List of Key Players in the Functional Drinks Market
- The Coca-Cola Company
- Monster Beverage Corporation
- PepsiCo
- Red Bull GmbH
- Otsuka Holdings Co., Ltd.
- Suntory Group
- DANONE SA
- Nestlé
In spite of functional drinks being more costly than customary substitutes, (for example, carbonated beverages), the market is considered to post significant expansion over the coming years.
As health awareness turns into an undeniably vital issue in numerous nations, shoppers may move from sugary soft drinks to more beneficial choices in the functional drinks category, boosting market expansion.Demands originating from the millennial generation, increasing wellness & healthcare awareness as well as busy lifestyles have prompted the developing requirement for functional.
The increasing health awareness of functional drinks is prompting the prospect of producing the condition-specific product offerings that will unmistakably emerge in the market.
Request For Report Sample: https://www.researchreportinsights.com/report/upsample/120124698/Functional-Drinks-MarketIn U.S., big chain stores, for example, Walmart have sturdy presence.
These stores offer buyers a more broad selection of products at lesser costs in contrast to small competitor stores.
Inflow of new flavors in addition to products is additionally working for the market.Multinational brands are bigger in the classification, getting a charge out of higher sales revenues along with stronger brand reputations.
In spite of functional drinks being more costly than customary substitutes, (for example, carbonated beverages), the market is considered to post significant expansion over the coming years.
As health awareness turns into an undeniably vital issue in numerous nations, shoppers may move from sugary soft drinks to more beneficial choices in the functional drinks category, boosting market expansion.Demands originating from the millennial generation, increasing wellness & healthcare awareness as well as busy lifestyles have prompted the developing requirement for functional.
The increasing health awareness of functional drinks is prompting the prospect of producing the condition-specific product offerings that will unmistakably emerge in the market.Request For Report Sample: https://www.trendsmarketresearch.com/report/sample/3333In U.S., big chain stores, for example, Walmart have sturdy presence.
These stores offer buyers a more broad selection of products at lesser costs in contrast to small competitor stores.
Inflow of new flavors in addition to products is additionally working for the market.Multinational brands are bigger in the classification, getting a charge out of higher sales revenues along with stronger brand reputations.
The trend in the direction of disease prevention and healthy lifestyle, combined with increasing healthcare cost are a few of the significant drivers of worldwide functional drinks market.Expanding worldwide sporting events along with the commercialization of domestic sporting events in emerging nations of Asia Pacific is giving new expansion prospects to functional drinks in fast-developing markets, for example, India and China.Report Description: https://www.trendsmarketresearch.com/report/functional-drinks-marketDoubts on product proficiency and absence of clearness among customer are restraining the overall expansion of the functional drinks market.
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Worldwide, the functional drinks market is striding along a sound expansion track. In spite of functional drinks being more costly than customary substitutes, (for example, carbonated beverages), the market is considered to post significant expansion over the coming years. As health awareness turns into an undeniably vital issue in numerous nations, shoppers may move from sugary soft drinks to more beneficial choices in the functional drinks category, boosting market expansion.
Demands originating from the millennial generation, increasing wellness & healthcare awareness as well as busy lifestyles have prompted the developing requirement for functional. These aspects alongside the possibility of healthiness-on-the-go and advancements in the drink flavors have prompted an increase in demand for wellbeing related functional drinks and refreshments which are additionally contrasting options to the customary supplements. The increasing health awareness of functional drinks is prompting the prospect of producing the condition-specific product offerings that will unmistakably emerge in the market.
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In U.S., big chain stores, for example, Walmart have sturdy presence. These stores offer buyers a more broad selection of products at lesser costs in contrast to small competitor stores. Inflow of new flavors in addition to products is additionally working for the market.
Multinational brands are bigger in the classification, getting a charge out of higher sales revenues along with stronger brand reputations. This is primarily on the grounds that energy drinks as well as sports, an imperative piece of functional drinks, begin from overseas markets; subsequently, buyers have more trust in international brands and show brand devotion.
Both health and convenience advantages related to functional drinks are the main aspects affecting the market. Further, the latest product developments have prompted the presentation of numerous new flavors along with products in the functional drinks market which thusly is boosting the market. The trend in the direction of disease prevention and healthy lifestyle, combined with increasing healthcare cost are a few of the significant drivers of worldwide functional drinks market.
Expanding worldwide sporting events along with the commercialization of domestic sporting events in emerging nations of Asia Pacific is giving new expansion prospects to functional drinks in fast-developing markets, for example, India and China.
Doubts on product proficiency and absence of clearness among customer are restraining the overall expansion of the functional drinks market. In addition, a time-consuming consequence of the ingredients utilized in functional drinks is one of the significant challenges for the functional drinks market.
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Growing product portfolio to address the technological progressions and utilization of natural ingredient in functional drinks are the center zones of the prominent players in the market. The customer demands for a perfect clean label have been on the ascent. On the other hand, the producers are not able to define it yet. Another limiting aspect is the existence of strict government regulation.
The functional beverage sector is very focused with the top ten organizations representing over half of the overall industry. The main players in the market are centered on creative flavors and beverages that are safe to consume tastes great as well as are cheaper. The prominent market players active in the worldwide market for functional drinks include Glanbia, Maxinutrition, PepsiCo Inc., Clif Bar & Company, GNC Holdings, The Coca-Cola Company, Nestle S.A, Universal Nutrition, Red Bull GmbH, Groupe Danone and Dr. Pepper Snapple Group Inc. Moreover, market players like Hi-tiger (Fujian Dali Food) are registering very sturdy retail present value sales growth during the year 2017 that resulted in their share expansion. Aiming primarily young consumers and students, Hi-tiger is extensively available in neighborhoods and in small supermarkets near schools.
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