Functional Beverages Market

Functional Beverages Market registered a revenue of USD 114.1 billion in 2020 and is projected to reach USD 197.6 billion in 2028, growing at a CAGR 7.1% during the forecast period.

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Market Dynamic

Key Drivers and Emerging Trends

Growing demand for convenient, ready to drink, and on the go beverages and the increasing awareness about the health benefits such as improving bone health, mental health, and immune system are the major factors driving the functional beverage market growth. With the growing health concerns among consumers, the demand for non-alcoholic and nutritious drinks will surge up, thereby, fueling the market growth. Besides, leading market players such as Monster Beverage Corporation and DuPont Nutrition & Health are emphasizing on expanding their product portfolio. Thus, the increasing investment in research and development to introduce latest products and flavours will drive the market share. Furthermore, the growing demand for organic, non-GMO, clean label has inclined consumers towards functional drinks over carbonated drinks, propelling the global Functional beverage market growth.

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Type – Segment Analysis

By type, the probiotic drink segment is predicted to lead the market over the forecast period as its helps prevent and treat diarrhea, manage friendly bacteria in the gut, and strengthen immune system. On the other hand, the energy drink is anticipated to expand at a faster CAGR over the forecast period. This is attributed to their ability to restore energy during sports activities. Moreover, the caffeine content in these drinks make them a preferred option across the developed economies, fueling the market growth.

Packaging – Segment Analysis

By packaging, the tetra pack segment is expected to hold a larger share over the forecast period. Rising government support to encourage tetra packaging in order to minimize wastage, distribution costs, and maintain quality will fuel the market growth. For example, companies such as Indofood, Nestlé, and others developed “PRAISE”, an organization intending to encourage the development of sustainable and incorporated packaging waste management solutions.

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Regional – Segment Analysis:

Asia-Pacific is forecast to lead the market over the forecast period, due to the increasing demand for convenience drinks and changing lifestyle. Growing cases of chronic diseases and diabetes have bolstered the demand for functional beverages like kombucha, Yakult, thereby strengthening the market growth.

Top Market Players

Some of the leading players operating in the market include PepsiCo, Inc., Nestlé, Kraft Foods, General Mills, Campbell Soup Co., Monster Beverage Corporation, The Coca-Cola Company, Red Bull GmbH, Archer Daniels Midland Co., and DuPont Nutrition & Health, among others.

Key Developments:

• • In 2020, Nestlé declared the powdered dairy beverage consisting of milk-based ingredients, which helps strengthen bone health to cater the growing demand of the consumers.

Segments covered in the Report:

The global functional beverages market has been segmented based on type, packaging, functions, and regions. Based on type, the market is segmented into probiotic drinks, energy drinks, fruit & vegetable juices, herbal and fruit teas, fortified water, rehydration solutions, dairy beverages, non-dairy beverages and others. Based on packaging, the market is segmented into bottle, tetra pack, sachet, tin can, and others. Based on functions, the market is segmented into hydration, energy & rejuvenation, health & wellness, weight management and others. 

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Key questions answered in this research report:

• • At what pace is the global functional beverages market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global functional beverages market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global functional beverages market?
  • Which type generated maximum revenues in 2020  and identify the most promising type during the forecast period?
  • What are the various packaging areas of global functional beverages market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Functional Beverages Market Segmentation

Global Functional Beverages Market by Type

• • Probiotic Drinks
  • Energy Drinks
  • Fruit & Vegetable Juices
  • Herbal and Fruit Teas
  • Fortified Water
  • Rehydration Solutions
  • Dairy Beverages
  • Non-Dairy Beverages
  • Others

Global Functional Beverages Market by Packaging

• • Bottle
  • Tetra Pack
  • Sachet
  • Tin Can
  • Others

Global Functional Beverages Market by Functions

• • Hydration
  • Energy & Rejuvenation
  • Health & Wellness
  • Weight Management
  • Others

Global Functional Beverages Market by Region

• • North America Functional Beverages Market (Option 1: As a part of the free 25% customization)
    • By Type
    • By Packaging
    • By Functions
    • US Market All-Up
    • Canada Market All-Up
  • Europe Functional Beverages Market (Option 2: As a part of the free 25% customization)
    • By Type
    • By Packaging
    • By Functions
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Functional Beverages Market (Option 3: As a part of the free 25% customization)
    • By Type
    • By Packaging
    • By Functions
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Functional Beverages Market (Option 4: As a part of the free 25% customization)
    • By Type
    • By Packaging
    • By Functions
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Functional Beverages (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • PepsiCo, Inc.
  • Nestlé
  • Kraft Foods
  • General Mills
  • Campbell Soup Co.
  • Monster Beverage Corporation
  • The Coca-Cola Company
  • Red Bull GmbH
  • Archer Daniels Midland Co.
  • DuPont Nutrition & Health