Functional Beverages Market Set to Reach $200 Billion by 2030, Reports Allied Market Research

According to a new report published by Allied Market Research, titled, "Functional Beverages Market by Type, Distribution channel and End user: Global Opportunity Analysis and Industry Forecast, 2021-2030 ".

The functional beverages market share is expected to reach $200,080.3 million by 2030, registering a CAGR of 5.9% from 2021 to 2030.

𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 : https://www.alliedmarketresearch.com/request-sample/13452

Functional beverages are nonalcoholic drinks which provides physical and mental health benefits and promote the state of health and well-being. Raw fruit, vitamins, herbs, vegetables, amino acid, probiotics, milk and some artificial additives are used to formulate the functional beverages.

Rising demand for sports and energy drinks among athletes and individuals engaged in intense physical activities majorly drives the functional beverages market growth. The growing athlete community and an increasing number of sportspersons in developing countries are some of the other factors driving the market. In addition, rising consumer inclination towards physical fitness and an increased number of fitness centers and health clubs are expected to fuel the market growth. Manufacturers are focusing on expanding their product portfolio by innovating new flavors with added health benefits. They are targeting different age groups owing to the popularity of sports drinks among teenagers and adults. The production of functional beverages with natural ingredients, such as natural sweeteners, is expected to propel the market growth by providing an opportunity to the manufacturers to add value to their products.

Functional beverages are nonalcoholic drinks that offer physical and mental health benefits, often formulated with raw fruit, vitamins, herbs, vegetables, amino acids, probiotics, milk, and artificial additives.

𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐨𝐟 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡

• Rising demand for sports and energy drinks among athletes and individuals engaged in intense physical activities is a significant driver of market growth.

• Growing fitness consciousness, an increasing number of fitness centers, and a rise in disposable income contribute to the market's expansion.

• Manufacturers are innovating new flavors with added health benefits to expand their product portfolios and target different age groups.

• The production of functional beverages with natural ingredients, such as natural sweeteners, provides opportunities for value addition.

𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 : https://www.alliedmarketresearch.com/request-for-customization/A13087

𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬

• Availability of alternative beverages like green tea, coffee, and fresh juice, along with concerns about excessive sugar consumption, limits the growth of the functional beverages market.

• Consumption of coffee can reduce the impact of caffeine present in energy drinks, affecting the growth of the energy drinks segment.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

• Type: Energy drinks, sports drinks, dairy-based beverages, juices, and others.

• Distribution Channel: Supermarket and hypermarket, specialty stores, E-commerce, and others.

• End User: Athletes, fitness lifestyle users, and others.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬

• The sports drinks segment is expected to grow at a CAGR of 6.5% from 2021 to 2030, driven by the millennial population's inclination towards fitness activities and a willingness to pay for healthier alternatives.

• Specialty stores are preferred by consumers for analyzing and evaluating products before purchase, contributing to the retail sales of functional beverages through this channel.
The athletes segment is a significant end-user, benefiting from the popularity and benefits of sports drinks.

𝐒𝐏𝐄𝐀𝐊 𝐖𝐈𝐓𝐇 𝐀𝐍𝐀𝐋𝐘𝐒𝐓 : https://www.alliedmarketresearch.com/connect-to-analyst/A13087

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬

Asia-Pacific is gaining significant traction for functional beverages, with a rise in demand for convenience beverages, aggressive marketing by energy drink companies, and an increase in sports and adventurous activities.

The region's workaholic culture and the growing trend of health and fitness clubs contribute to the demand for energy drinks and functional beverages.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

The functional beverages market size was valued at $ 110,148.9 million in 2020, and is estimated to reach $ 200,080.3 million by 2030, registering a CAGR of 5.9% from 2021 to 2030.

In 2020, depending on type, the dairy-based beverages segment accounted for $ 7,215.1 million, garnering 6.6% of the global market share.

On the basis of distribution channel, the E-Commerce segment acquired $ 12,555.8 million, exhibiting 11.4% of the global market share.

In 2020, by end user, the athletes segment was valued at $35,319.6 million, accounting for 32.1% of the market share.

U.S. was the most prominent market in North America in 2020, and is projected to reach $ 53,683.3 million by 2030, growing at a CAGR of 4.2% during the forecast period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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