Functional Beverages Market worth $265.9 Billion by 2030 - Exclusive Report by InsightAce Analytic
JERSEY CITY, N.J., Jan. 25, 2022 /PRNewswire/ -- The newly published report titled "Global Functional Beverages Market– By Trends, Industry Competition Analysis, Revenue (US$ Billions) and Forecast Till 2030." of report features in-depth analysis and an extensive study on the industry, exploring its significant factors.
According to the latest market intelligence research report by InsightAce Analytic, the global Functional Beverages market size was valued at US$ 118.7 Billion in 2021, and it is expected to reach US$ 265.9 Billion in 2030, record a promising CAGR of 9.38% from 2021 to 2030.
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The significance of foods and beverages in disease prevention and treatment has been increasingly recognized in recent years. Thus, Functional beverages have gained acceptance among conscientious consumers due to their perceived health benefits. These are nonalcoholic drinks that contain bioactive substances such as vitamins, minerals, antioxidants, omega-3 fatty acids, plant extracts, fiber, prebiotics, and probiotics, as well as other nutrients and bioactive compounds. Consumption of these beverages is related to weight management, improving energy, athletic endurance, hydration. Those are linked with several health benefits such as a healthy cardiovascular (CV) system, healthy digestive system, immune defense, cholesterol management, among others. In the current times, functional beverages have become increasingly popular due to various key factors ranging from convenience to handle, ease of storage and distribution, the possibility of meeting consumer demand, and shelf stability. Commercially available functional beverages can be divided into several categories, including energy drinks, sports drinks, cannabis-infused drinks, functional fruit and vegetable juices, and other dairy-based beverages.
The growth of the market is expected to be driven by the number of fitness enthusiasts and growing consumer inclination from sugary soft beverages to healthier alternatives. Moreover, increasing disposable incomes and rising health awareness are also driving the demand for functional beverages. This growth enables industry players to introduce beavers with low calories and fats and add fruit and vegetable flavoring additives such as vegan, probiotic, and plant-based drinks, increasing market growth. E-commerce plays an essential role in the market's development since it allows businesses to reach out to a more extensive customer base more readily.
The COVID-19 has had a positive impact on the market for functional beverages. The covid-19 outbreak has influenced people's food purchase and consumption behaviors. Consumers are gradually inclined towards more health-promoting foods and drinks to strengthen their immunity. This has led to soaring demand for functional beverages.
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The prominent players in the Functional Beverages industry include:
Archer Daniels Midland Company, Arla foods, Æcorn Aperitifs, Campbell Soup Co., Clif Bar & Company, Danone S.A., DuPont Nutrition & Health, Fonterra Co-operative Group Limited, General Mills, Inc., Glanbia PLC, Kraft Foods Group, Inc., LycoRed Ltd., Monster Energy Company, Dr. Pepper Snapple Group, National Beverage Corp, Nestlé S.A., PepsiCo, Inc., Red Bull Gmbh, Suntory Holdings Limited, Tata Global Beverages, The Coca-Cola Company, The Kraft Foods Group, Thomson & Scott Ltd., Seedlip, Domaines Pierre Chavin, Club Soda, H2OPS, BevZero, Caleno Drinks, Ferm Fatale, Pernod Ricard, MeMento srl, Cannabiniers, General Cannabis, Canopy Growth Corporation, Aurora Cannabis, Aphria Inc., Tilray, Daytrip Beverages, Lagunitas Brewing Company, Koios Beverage Corp., CBD Biotechnology Co. Ltd, G&Juice, K-Zen Beverages Inc., NewAge Inc., Alkaline88 LLC, Phivida Holdings Inc., CANNABIS SATIVA INC, Puration, Honeydrop Beverages, Buchi Kombucha, Cell - Nique Corporation, Equinox Kombucha, Fix8 Kombucha, Flying Embers, Gt's Kombucha, GUTsy Captain, Hain Celestial Group, Health-Ade LLC, Heal Probiotics, HIGH COUNTRY, Kevita, Inc., Kombucha Me Pty Ltd., Kombucha Wonder Drink, Kosmic Kombucha, Live Soda Kombucha, Local Roots Kombucha, Makana Beverages Inc., Nesalla Kombucha, Pronatura, Red Bull GmbH, Reed's Inc., Revive Kombucha, SOUL BREW KOMBUCHA, Strappa Live Kombucha, Humm Kombucha LLC, Townshend's Tea Company, Yogi Tea, Nexba, Tea-Biotics Kombucha, Bootstrap Kombucha, Stratus Group, Flying Embers, JuneShine, Boochcraft, Better Booch, Rowdy Mermaid Kombucha, NOVA Kombucha, Lyre's Spirit Co, Maria&Craig's (CBD Botanical Spirit), Lucky Saint, Whiteside Drinks, Drink Dry Store, Big Drop Brewing Co Ltd., Real Kombucha, JoyBrau Functional Beer, Freestar Drinks, Ferm Kombucha, and Other Prominent Players.
Key Industry Developments from Leading Players:
- In Oct 2021, Barry Callebaut introduced a new better-for-you drink mixture made of 100% cacao fruit that will be available for manufacturers worldwide to use in different types of beverages. This launch is the latest product to come out of Barry Callebaut's focus on using the whole cacao fruit in products
- In Jan 2020, Coca Cola sports drink brand Powerade has introduced its new product portfolio with the launch of two zero-sugar drinks, Powerade Ultra and Powerade Power Water. Powerade Ultra comprises creatine, branched-chain amino acids, vitamins B3, B6, and B12. Powerade Ultra is available in three different flavors, including Mixed Berry, White Cherry, and Citrus Blast
- In June 2019, Kraft Heinz launched a new single-serving spoonable smoothie brand called Fruitlove, which mixes yogurt with three fruits and vegetables. It is available in four flavors, including Banana, Strawberry, Twirl, Harvest Berry Blend, Mango Medley, Pineapple Coconut Bliss, and Blueberry Dream
- In March 2019, Revive Kombucha announced the launch of Revive Sparkling Kombucha, a traditionally fermented, organic, and shelf-stable craft brew. Revive strengthens its innovative approach to batch brewing and natural fermentation methods through this new product line launch, which is nearly identical to their raw and refrigerated bottled Kombucha
Functional Beverages Market Regional Analysis:
North America controlled the global market with a share of 42 % in 2021. North America is the largest market for functional beverages owing to its well-established economy and high level of living with a healthy growth rate. The popularity of zero-calorie, zero-sugar, and low-carb soft drinks is growing in the region. Beverages are a key contributor to overall nutritional and calorie intake for the U.S. population and play a significant part in achieving total water intake needs. The 2015–2020 Dietary Guidelines for Americans commend that water, fat-free and low-fat milk, and 100% juice be the primary beverages consumed. Followed by North America, The Asia Pacific is expected to be the fastest-growing market of functional beverages. Demand from the Chinese and Japanese markets is augmenting the growth of the market in this region.
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The Global Functional Beverages Market Segments
The Global Functional Beverages Market Estimates (Value US$ Billion) & Forecasts and Trend Analyses, 2019 to 2030 based on Products,
- Energy Drinks
- Sports Drinks
- Cannabis-Infused Beverages
- Kombucha
- Non-alcoholic Aperitif
- Nutraceutical Drinks
- Functional Fruit and Vegetable Juices
- Enhanced Water
- Dairy-based Beverages
- Other Products
The Global Functional Beverages Market Estimates (Value US$ Billion) & Forecasts and Trend Analyses, 2019 to 2030 based on Functions,
- Health & Wellness
- Weight Management
The Global Functional Beverages Market Estimates (Value US$ Billion) & Forecasts and Trend Analyses, 2019 to 2030 based on Distribution channel,
- Convenience Stores
- Online Retail
- Pharmacies
- Supermarket/Hypermarket
The Global Functional Beverages Market Estimates (Value US$ Billion) & Forecasts and Trend Analyses, 2019 to 2030 based on region
- Europe
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
North America Functional Beverages Market Estimates Revenue (US$ Billion) by Country, 2019 to 2030
- U.S.
- Canada
Europe Functional Beverages Market Estimates Revenue (US$ Billion) by Country, 2019 to 2030
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia Pacific Functional Beverages Market Estimates Revenue (US$ Billion) by Country, 2019 to 2030
- India
- China
- Japan
- South Korea
- Australia & New Zealand
Latin America Functional Beverages Market Estimates Revenue (US$ Billion) by Country, 2019 to 2030
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa Functional Beverages Market Estimates Revenue (US$ Billion) by Country, 2019 to 2030
- GCC Countries
- South Africa
- Rest of the Middle East & Africa
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Other Related Reports Published by InsightAce Analytic:
Global Ready-to-Drinks (RTDs) Alcohol Market
Global Low & No Alcohol Beverages Market
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