Functional Energy Drinks Market to Develop Rapidly at CAGR of about 12.5% by 2023

Market Overview:
Global Functional Energy Drinks market is expected to grow at the CAGR of 12.5%. Functional beverages are non-alcoholic beverages which aids to keep the consumer’s body hydrated and also offers extra micro nutrients which include herbs, vitamins, minerals, amino acids, or additional raw fruit or vegetables. Functional energy drinks is a type of functional drinks. Functional energy drinks provides vitamin B which keeps red blood cells and also aids to regulate the nervous system. Functional energy drinks is becoming popular beverages due to the specific health benefits.

The global functional energy drinks market is witnessing a massive growth over the last few years. Growth of the functional energy drinks is stimulated by the rising health and wellness concern among the consumers both in developed and developing economies. Growing rate of urbanization in developing economies is anticipated to be one of the main drivers of the rising growth of functional energy drinks. Main consumers of functional energy drinks are educated urbanities who are inclined to adopt packaged energy drinks which consist of vitamin, mineral and other micronutrients. Key players are emphasizing to promote their new product offerings in the supermarkets & hypermarkets which is creating consumer- awareness for functional energy drinks.

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Key players in the global functional energy drinks market are emphasizing to enhance their investment in product development in order to extend the product line. Additionally, the companies are also inclined to increase their footprint across the world by acquiring local and regional players. Apart from that, the companies are introducing their products in the developing economies in order to penetrate in the untapped market.

Major Key Players:
This report includes a study of strategies such as mergers and acquisitions, product launches by the major functional energy drinks market players. It further includes product portfolios, developments of leading major players which includes

Mondelez International, Inc. (U.S.)
National Beverage Corporation (U.S.)
Tata Global Beverages (India)
Pepsi co Inc. (U.S.)
Abbott Nutrition Limited (U.S.)
Red Bull GmBH (Austria) and
The Coca-Cola Company (U.S.)

Key Findings:
North America dominates the functional energy drinks market followed by Europe

Asia Pacific is projected to witness a massive growth during the forecast period of 2017-2023. China is estimated to create a favorable environment for the increasing growth of Asia Pacific region.

Industry Segments:
Functional energy drinks has been segmented on the basis of product type which comprises of isotonic, hypertonic, hypotonic and others. Functional energy drinks market has been segmented on the basis of packaging which comprises of bottle, can, tetra pack and others. Functional energy drinks market has been segmented on the basis of distribution channel such as store based and non-store based. Store based distribution channel has been further segmented into supermarkets & hypermarkets, convenience stores, specialist retailers and others.

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Regional Analysis:
The global Functional Energy Drinks Market is segmented into Europe, North America, Asia Pacific, and rest of the world (ROW). Among these, North America region has the major market proportion in the global functional energy drinks market. The market is projected to grow in a high pace in the review period of 2017-2023. Asia Pacific is projected to be one of the fastest growing region in the functional energy drinks market. The increasing growth of Asia Pacific region is attributed to the increasing per capita disposable income of the consumer in the developing economies such as China, India & the Association of South East Asian Nations. Also, the key players are trying to penetrate in the Asia Pacific region to untapped market. Also, the manufacturers of functional energy drinks are emphasizing in the various promotional activities in the developing nations of Asia Pacific which in turn accelerates the sales of functional energy drinks in the Asia Pacific region during the forecast period of 2017-2023.

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