Functional Beverages Market 2023: Top Companies Overview, Market Share, Demand, Growth, Trends and Forecast 2028

The global functional beverages market size reached US$ 125.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 205.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.75% during 2023-2028.

Functional beverages represent non-alcoholic drinks that contain non-traditional ingredients, including vitamins, amino acids, minerals, dietary fibers, raw fruits, and probiotics. Some of the common product types include energy drinks, sports drinks, herbal tea, vitamin water, fruit drinks, etc. In line with this, functional beverages aid in delivering bioactive compounds and nutrients to the body, such as fibers, antioxidants, fatty acids, plant extracts, micronutrients, etc., and help to improve energy, hydration, and athletic endurance. They even promote a healthy cardiovascular system, enhance digestion, prevent cancer, boost immunity, regulate weight loss, strengthen joints, etc. Consequently, functional beverages are extensively utilized by individuals across the globe.

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Functional Beverages Market Trends and Drivers:
The escalating demand for highly nutritional food products, on account of the rising consumer health consciousness, is primarily driving the functional beverages market. Additionally, the emerging trend of participating among individuals in sports and allied activities is acting as another significant growth-inducing factor. Besides this, the introduction of organic, allergen-free, and vegan protein and plant-based drinks is also positively influencing the global market. Moreover, the development of age and gender-specific product variants that cater to the respective requirements of women, kids, and the geriatric population is further stimulating the market growth. Apart from this, the increasing innovations in packaging, such as ready-to-drink (RTE) and single-serve, that offer the convenience of use, the easy availability of these drinks across various online retail platforms, and the growing celebrity endorsements and promotional activities are expected to bolster the functional beverages market over the forecasted period.

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Functional Beverages Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

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.

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

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