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Functional Drinks Market 2023-2032: Global Outlook, Business Statistics, Future Growth And Major Players | The Coca-Cola Company, PepsiCo Inc., Red Bull GmbH, Suntory Beverage and Food Ltd., Danone S.A
Functional Drinks Market
The Business Research Company's Functional Drinks Global Market Report 2023 identifies Increasing healthcare costs as the major driver for the Functional Drinks Market's growth in the forecast period. A health expenditure is a capital consumption with the primary objective of encouraging, restoring, and sustaining health. Functional beverages contain substances that are considered to offer health benefits in addition to their basic nutritional value. Certain functional beverages contain antioxidants, vitamins, and minerals that boost the immune system, lower blood pressure, and reduce inflammation. It can be a cost-effective way to meet nutritional needs.
The global functional drinks market size is expected to grow from $43.27 billion in 2022 to $46.58 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global functional drinks market size is expected to reach $60.13 billion in 2027 at a CAGR of 6.6%.
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Major competitors in the functional drinks market are The Coca-Cola Company, PepsiCo Inc., Red Bull GmbH, Suntory Beverage and Food Ltd., Danone S.A., Nestlé SA, Kraft Heinz Co., Monster Beverage Corporation, Otsuka Holdings Co. Ltd., Universal Nutrition Corp., Clif Bar & Company, Dr Pepper Snapple Group Inc., Glanbia Plc, Kerry Group Plc, and Probi AB.
A key trend in the Functional Drinks Market includes Product innovations. Major companies operating in the functional market are focused on developing innovative solutions to strengthen their position in the market. For instance, in February 2022, Rockstar Energy Drinks (a company of PepsiCo Inc.), a US-based beverage company, launched Rockstar Unplugged, a new energy drink with hemp seed oil and B vitamin ingredients rather than offering a huge punch of energy. Rockstar Unplugged, which contains 80 mg of caffeine, is a unique combination of ingredients that gives an extra energy boost. The brand-new calorie- and sugar-free beverage contains caffeine, hemp seed oil, B vitamins, spearmint, and lemon balm
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The Functional Drinks Market is segmented -
By Product: Energy Beverages, Functional Fruit and Vegetable Juices, Sports Beverages, Functional Water, Other Products
By Distribution Channel: Hypermarkets Or Supermarkets, Specialty Stores, Online, Other Distribution Channels
By Application: Health And Wellness, Weight loss
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Functional Drinks Market.
The Business Research Company's "Global Functional Drinks Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Functional Drinks Market Include:
1. Executive Summary
2. Functional Drinks Market Characteristics
3. Functional Drinks Market Trends And Strategies
4. Functional Drinks Market - Macro Economic Scenario
5. Functional Drinks Market Size And Growth
……
26. Africa Functional Drinks Market
27. Functional Drinks Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Functional Drinks Market
29. Functional Drinks Market Future Outlook and Potential Analysis
30. Appendix
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