Growth opportunities in the functional beverage market look promising over the next six years. This is mainly due to the rising demand for healthy hydration and the increasing awareness among individuals about various health benefits like protection against cancer and management of type-2 diabetes.
Functional Beverage Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The functional beverages drinks, ranging from senior citizens to children, are targeted among various demographic groups, according to their specific demands and needs. Also, these beverages are enormously convenient and are filled with all nutrients and ingredients. These features have stimulated the growth of the global functional beverage market. Moreover, the shell life of these beverages can be extended, which has fuelled the functional beverage market growth. The growing inclination of individuals towards health-oriented probiotic products owing to the increasing demand for healthy hydration will further raise the functional beverage market size. Consumers are largely choosing healthy drinks like kombucha over carbonated drinks and fruit juices. This is because of the evidence-based health benefits of kombucha tea, like management of type-2 diabetes, prevalence of antioxidants, and protection against cancer.
Leading players are emphasizing on expanding their product portfolio through acquisition and mergers. For example, Glanbia, in 2017, officially acquired Body & Fit, a leading branded business focussing on performance nutrition. This acquisition promoted the vigorous presence of GPN and helped the company generate more revenue, thus propelling the market growth. However, as per the functional beverage market analysis, insufficient clarity and product efficiency among the consumers will hamper the market growth.
Regional Drivers
Based on the region, Asia-Pacific is predicted to lead the market over the forecast period. The growing incidences of chronic disease have resulted in escalated demand for functional beverages like Yakult, kombucha, which helps in protection against diseases and provides numerous health benefits. According to WHO, diabetes is a challenging factor for India and augmenting factor for the growth of functional beverages. As per the IDF, 463 million people suffer from diabetes globally, with 88 million people in the SEA region. The prevalence rate of diabetes in adults amounted to 8.9%, and the total cases of diabetes in adults totalled 77,005,600 in India. Therefore, the increasing cases of diabetes have prompted people to switch towards functional beverages, driving the market growth.
Functional Beverage Market’s leading Manufacturers:
- DuPont Nutrition & Health
- Red Bull GmbH
- Monster Beverage Corporation
- General Mills
- Nestlé
- Archer Daniels Midland Co.
- The Coca-Cola Company
- Campbell Soup Co.
- Kraft Foods
- PepsiCo, Inc.
Functional Beverage Market Segmentation:
Segmentation by Type:
- Probiotic Drinks
- Energy Drinks
- Fruit & Vegetable Juices
- Herbal and Fruit Teas
- Fortified Water
- Rehydration Solutions
- Dairy Beverages
- Non-Dairy Beverages
- Others
Segmentation by Packaging:
- Bottle
- Tetra Pack
- Sachet
- Tin Can
- Others
Segmentation by Functions:
- Hydration
- Energy & Rejuvenation
- Health & Wellness
- Weight Management
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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