Functional Beverages Market Revenue | Global Demand and Forecast to 2023

Market Overview

Global Functional Beverages Market Revenue is growing pervasively over the past few years. Factors such as increasing health-centric (health-conscious) populaces and millennial generation increase the Functional Beverages Market Revenue. Moreover, the rising popularity of functional beverages and rising consumer preference for verities of drinks are accelerating the market growth to booming heights.

Functional beverages trends not only drive the market growth but also encourage the makers/manufacturers to bring novelty in the drinks. Manufacturers invest substantial investments in R&D activities and to develop attractive packaging solutions. All such efforts commutatively drive the market by increasing the demand, sales, and size of the functional beverages market.

The development of the supply chain and distribution network is expected to play an important role in the growth of this market. The penetration of large format retail, including supermarkets, hypermarkets, and online shopping for groceries has been increasing, especially in developing countries. Among these, online channels provide convenience to price-sensitive consumers. Rising disposable incomes are encouraging consumers to go for bulk purchase of these beverages.

Competitive Analysis

Highly competitive, the Functional Beverages Market Revenue appears to be fragmented due to the presence of many well-established players. To gain a larger market share, these players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product & technology launch. There seems to be a very low product differentiation and the availability of a wide range of similar products. Manufacturers are increasingly focusing on reducing the brand recall of their products through effective marketing communications. High potential growth of the market attracts many new entrants, which in turn intensifies the market competition further.

Major Players

Players leading the Functional Beverages Market Revenue include The Coca-Cola Company (US), Nestle S.A. (Switzerland), PepsiCo Inc. (US), Mondelez International Inc. (US), Fonterra Co-operative Group Ltd. (New Zealand), Hain Celestial Group (US), Kraft Heinz Company (US), Monster Beverage Corporation (US), Danone (France), and Campbell Soup Co. (US) among others.

Industry/Innovation/Related News

July 31, 2019 - Natur International Corp., (Netherlands), a provider of home healthcare services, announced the closing of a transaction acquisition of the controlling interest in Temple Turmeric, Inc. (the US) and a leading manufacturer of various beverages. The acquisition would allow Natur to add the wellness of turmeric-based beverages as a platform for expanding their offerings.

Natur is a Eurasian functional product company offering "farm-to-functional," natural & organic, and plant-based foods & beverages, including full and broad-spectrum CBD (cannabinoid) and terpene-blended consumer products. Temple Turmeric offers elixirs, raw vinegar, prana shots, and probiotics.

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Market Segmentations

MRFR has segmented the report into four dynamics to widen the scope of understanding,

By Type: Energy Drinks, Sports Beverages, Prebiotic & Probiotic Drinks, Functional Fruits & Vegetable Juices, Functional Dairy Products, Dairy Alternative Beverages, and others (Water, Teas & Coffee).

By Distribution Channel : Store-Based and Non-Store Based

By Function: Health & Wellness, Energy & Rejuvenation, Weight Management, Hydration, and others.

By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.

Regional Analysis

The European region dominates the global functional beverages market. The largest share of the market attributes to the growing sales of functional beverages in the region. Besides, high disposable income and increasing health eccentric populace drive the regional market growth. The functional beverage market in Europe is predicted to create a valuation of USD 74.26 BN, registering a CAGR of 6.22% CAGR during the review period (2019 to 2023). Also, the influence of the media industry is going to escalate the regional market growth further. Germany, France, Spain, and Italy are the major markets in the region.

North America accounts for the second-largest share in the global functional beverages market. Factors such as high per capita income and the presence of large innovative players drive the growth of the regional market. The region is expected to scale up a market value of USD 68.12 BN with a 6.42% CAGR during the forecast period. It can scale Mexico is expected to grow at the fastest CAGR, whereas the US would have the largest market share accounting for a valuation of USD 49.51 BN.

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