New York, According to a new market research report published by Global Insight Services “Functional Beverages Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Functional beverages are those that are designed to have a positive impact on health and well-being. They are often fortified with vitamins, minerals, and other nutrients, and may also contain herbs or other natural ingredients. Functional beverages can be found in many different categories, including sports drinks, energy drinks, and health drinks. While some people may consume functional beverages for the health benefits, others may simply enjoy the taste or the added benefits that they provide.
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Key Trends
The key trends in functional beverages technology are:
1. Increasing demand for healthy and nutritional beverages: Consumers are becoming more health conscious and are looking for beverages that offer health benefits. This has led to an increase in demand for functional beverages such as sports drinks, energy drinks, and vitamin-infused waters.
2. Innovation in product formulation: Manufacturers are innovating in product formulation to offer beverages with better taste and health benefits. For instance, companies are introducing energy drinks with natural ingredients such as green tea and guarana.
3. Expansion of distribution channels: Companies are expanding their distribution channels to reach more consumers. For instance, Coca-Cola has partnered with 7-Eleven to sell its energy drink, Monster, in the convenience store chains outlets.
4. Increase in marketing and promotional activities: Companies are engaging in aggressive marketing and promotional activities to increase brand awareness and drive sales. For instance, Red Bull has been sponsoring extreme sports events to promote its energy drink.
Key Drivers
The functional beverages market is driven by a number of factors, including the growing health consciousness of consumers, the rise in disposable incomes, and the increasing demand for convenient and healthy drinks.
The growing health consciousness of consumers is a major driver of the functional beverages market. Consumers are becoming more aware of the importance of maintaining a healthy lifestyle and are therefore increasingly opting for healthier drink options. This is driving the demand for functional beverages, which are perceived to be healthier than traditional drinks such as soft drinks and juices.
The rise in disposable incomes is another key driver of the functional beverages market. As incomes rise, consumers are able to spend more on premium and healthy products, such as functional beverages. This trend is especially prevalent in developing countries, where the middle class is growing at a rapid pace.
The increasing demand for convenient and healthy drinks is also driving the growth of the functional beverages market. Consumers are increasingly looking for drinks that offer both health benefits and convenience. Functional beverages offer an ideal solution as they are easy to consume and offer a range of health benefits.
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Market Segmentation
The Functional Beverages Market is segmented by type, distribution channel, end user, and region. On the basis of type, the market is categorized into energy drinks, sports drinks, dairy-based beverages, juices and others. By distribution channel, it is bifurcated into supermarket and hypermarket, specialty stores, e-commerce, and others. Depending on end user, it is segregated into athletes, fitness lifestyle users, and others. By region, the market is classified into North America, Europe, Asia-Pacific and rest of the world.
Key Players
The key players in the Functional Beverages Market are Red Bull, Dupont Nutrition Biosciences ApS, MaxiNutrition, Clif Bar, The Coca-Cola Company, Monster Beverage Corporation, Meiji Co., Ltd., Nestlé S.A., National Beverage Corp., and Pepsico, Inc.
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Reasons to buy Functional Beverages Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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