Functional Beverage Market Growth Opportunity, Vertical and Forecast 2030

By on October 3, 2022 0

Functional Drinks Market Report

Rising number of fitness enthusiasts and rising consumer inclination towards a healthy lifestyle are expected to be the major growth drivers for the market.

POTLAND, UNITED STATES, Oct. 3, 2022 / — According to a new report published by Allied Market Research, titled “Functional Beverages Market by Type, Distribution Channel and End User: Global Opportunities Analysis and Market Forecast industry, 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.

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Functional beverages are non-alcoholic beverages that provide physical and mental health benefits and promote health and well-being. Raw fruits, vitamins, herbs, vegetables, amino acids, probiotics, milk and some artificial additives are used to formulate the functional drinks.

Rising demand for sports and energy drinks among athletes and people engaged in intense physical activities is mainly driving the growth of the functional drinks market. Growing athlete community and growing number of sportspeople in developing countries are some of the other factors driving the market. Additionally, the growing consumer trend towards physical fitness and an increased number of fitness centers and health clubs are expected to fuel the growth of the market. Manufacturers are focused on expanding their product portfolio by innovating new flavors with additional health benefits. They target different age groups due 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 manufacturers with the opportunity to add value to their products.

According to the functional beverages market analysis, the functional beverages market is segmented into type, distribution channel, end-user, and region. Based on type, the market is categorized into energy drinks, sports drinks, dairy drinks, juices and others. By distribution channel, it is divided into supermarkets and hypermarkets, specialized stores, E-commerce and others. According to the end user, it is separated into athletes, fitness lifestyle users and others. By region, it is analyzed in North America (United States, Canada and Mexico), Europe (Germany, France, United Kingdom, Italy, Spain, Russia and rest of Europe), Asia-Pacific (China , Japan, Australia, India and Rest of Asia-Pacific) and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa and Rest of LAMEA).

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According to Functional Drinks Market Trends, on the basis of type, the Sports Drinks segment was valued at USD 21,543.1 Million in 2020 and is projected to reach USD 41,376.2 Million by 2030, with a growing at a CAGR of 6.5% from 2021 to 2030. The growing inclination of the millennial population towards fitness and physical activities, increasing purchasing power and willingness to pay for healthier alternatives are some of the major factors accelerating the demand for sports drinks. In addition, the benefits associated with sports drinks for athletes, such as minimizing the risk of dehydration and electrolytes, maintaining electrolyte balance in the body, and replacing sweat, are likely to elicit the demand for sports drinks, which in turn is driving the growth of the functional drinks market.

According to distribution channel, the specialty store segment was valued at $24,249.3 million in 2020, and is expected to grow to $45,637.6 million by 2030, registering a CAGR of 6.3%. Consumers prefer to analyze and evaluate products before buying them, which is driving retail sales of functional beverages in specialty stores. Additionally, consumers are becoming very conscious and knowledgeable about their item purchases, they proactively check ingredients, processing methods and raw materials used so that people overwhelmingly prefer to purchase products from specialty stores.

On the basis of end-user, the athlete segment accounted for a considerable share of the global product market and is expected to maintain its share throughout the forecast period of the functional drinks market. The growing participation of people in national and international level sports and the popularity and benefits of sports drinks are likely to drive the growth of the functional drinks industry through the athlete segment. In addition, the active and growing participation of women in the Olympics also helps to increase the global number of athletes who are likely to drive the product market growth over the forecast period.

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Players operating in the functional beverage industry have adopted product launch and business expansion as their key development strategies to grow their market share, increase profitability and stay competitive in the market. Key Players profiled in this report are Red Bull, Dupont Nutrition Biosciences ApS, MaxiNutrition, Clif Bar, The Coca-Cola Company, Monster Beverage Corporation, Meiji Co., Ltd, Nestlé SA, National Beverage Corp. and Pepsico, Inc. ..

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> To develop effective R&D strategies, gather information, analysis and strategic ideas from competitors

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David Correa
Allied Analytics LLP
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