Press release
Functional Beverages Market Poised to Surge, Projected to Reach $179.80 Billion by 2029-Insightful Analysis by Meticulous Research®
Functional beverages, encompassing an array of non-alcoholic drinks fortified with unconventional ingredients such as vitamins, minerals, and probiotics, are witnessing escalating demand worldwide. Sports drinks, energy drinks, and dairy-based beverages, among others, are gaining traction for their ability to enhance health, energy levels, and hydration.
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Amidst growing health consciousness, consumers are increasingly turning to functional beverages to bolster their overall well-being. These beverages facilitate the delivery of essential nutrients and bioactive compounds, promoting a range of health benefits including improved cardiovascular health, digestion, immunity, weight management, and cognitive function.
The report segments the functional beverages market by type, application, distribution channel, and geography, offering stakeholders a comprehensive understanding of market dynamics and opportunities.
Impact of COVID-19 on the Global Functional Beverages Market:
The COVID-19 pandemic precipitated unprecedented disruptions across industries, including the functional beverages market. Supply chain disruptions and manufacturing constraints hindered the industry's growth trajectory initially. However, heightened health awareness among consumers during the pandemic led to increased demand for functional beverages, particularly those fortified with immunity-boosting ingredients. With the gradual easing of restrictions, manufacturers managed to overcome operational challenges, fueling market recovery.
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Key Insights from the Report:
Type Segment: The sports drink segment is anticipated to witness the highest CAGR during the forecast period, fueled by increasing popularity among teenagers and adults, particularly in developed economies.
Application Segment: The health & wellness segment is projected to dominate the market in 2022, driven by a surge in health-conscious consumers and demand for clean, non-GMO food products.
Distribution Channel Segment: Convenience stores are expected to capture the largest market share in 2022, while E-commerce is poised to register the highest CAGR, attributed to the convenience and variety offered by online platforms.
Key Players in the Functional Beverages Market:
The competitive landscape of the functional beverages market includes prominent players such as Danone S.A., Meiji Holdings Co., Ltd., Monster Beverage Corporation, PepsiCo, Inc., and The Coca-Cola Company, among others.
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