IMARC Group, a leading market research company, has recently releases report titled “Functional Beverages Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” offers a comprehensive analysis of the industry, which comprises insights on the functional beverage market growth. The global market size reached US$ 135.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 234.0 Billion by 2032, exhibiting a growth rate (CAGR) of 6.16% during 2024-2032.
Functional beverages are formulated with additional functional ingredients, such as vitamins, minerals, antioxidants, probiotics, and herbal extracts, that are carefully selected to deliver targeted functional benefits. They are cost-effective and convenient to consume and widely available in different packaging styles to attract a wide consumer base. They assist in maintaining hydration, increasing energy levels, boosting immune support, improving concentration, and enhancing the digestive health of individuals. As they assist in providing a refreshing taste and boosting cognitive functions among individuals, the demand for functional beverages is rising across the globe.
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Functional Beverages Market Trends and Drivers:
Presently, the increasing consumer preference for natural and organic ingredients-based functional beverages that are free from artificial additives, preservatives, and excessive sugar represents one of the primary factors impelling the market growth. Besides this, the growing demand for functional beverages due to the increasing consumer preference for healthier beverages is offering a positive market outlook. In addition, the rising adoption of functional beverages, as they are easily carried and consumed anywhere, is propelling the growth of the market. Moreover, the wide availability of functional beverages through various distribution channels, such as hypermarkets, supermarkets, and convenience and online stores around the world, is bolstering the growth of the market. Furthermore, the rising demand for functional beverages among fitness enthusiasts and athletes to boost instant energy levels is strengthening the growth of the market.
Leading key players operating in the Functional beverages industry:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Amway Corp.
- Campbell Soup Company
- Clif Bar & Company
- GNC Holdings LLC (Harbin Pharmaceutical Group Co. Ltd)
- The Kraft Heinz Company
- Monster Beverage Corporation
- National Beverage Corp.
- Pepsico Inc.
- Red Bull GmbH and The Coca-Cola Company.
Key market segmentation:
The report has segmented the market on the basis of type, distribution channel and end user.
Breakup by Type:
- Energy Drinks
- Sports drinks
- Dairy-based Beverages
- Juices
- Others
Breakup by Distribution Channel:
- Supermarket and Hypermarket
- Specialty Stores
- E-commerce
- Others
Breakup by End User:
- Athletes
- Fitness Lifestyle Users
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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