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Market Overview:

The scope of our recent study on ” Functional Beverages Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Energy Drinks, Sports Drinks, Fortified Juices, Functional Water, and Others) and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others)” includes the description of factors governing the market growth, estimation and forecast of revenue, and identification of significant market players and their key developents. It also entails the market share analysis.

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The functional beverages market is projected to reach US$ 145,146.05 million by 2028 from US$ million 85,728.85 in 2021; it is expected to grow at a CAGR of 7.8% from 2021 to 2028.

The nutrient profile of functional beverages includes proteins, amino acids, vitamins, minerals, probiotics, among others. These beverages provide energy, boost hydration, and fulfill the body’s daily nutritional requirements. Amid the hectic lifestyles, functional beverages are becoming increasingly popular among consumers owing to their concerns about health, immunity, and fitness.

Based on distribution channel, the functional beverages market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The convenience stores segment held a prominent market share in 2020. Convenience stores are retail establishments that sell products of different brands. They are the most preferred retail channel due to the ease of reach. Manufacturers of functional beverages offer their products through convenience stores owing to significant footfall in these stores.

Based on geography, the functional beverages market is segmented into—North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). North America held the largest market share in 2020. The rising number of health-conscious individuals in the region is one of the primary factors driving the growth of the functional beverages market; calorie consciousness among people compels them to consume zero-sugar and low-calorie energy drinks and sports drinks. The increasing participation in sports and recreational activities also supports the regional market, as functional beverages help in maintaining the energy levels in the body, enhancing nutrient absorption of the body, and keeping the body hydrated. Moreover, the flourishing trend of veganism is bolstering the demand for plant-based functional beverages.

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Impact of COVID-19 Pandemic on Functional Beverages Market

The functional beverages market experienced the mixed impact of the COVID-19 pandemic. The popularity of foods and beverages that help boost natural immunity and maintain overall health increased with the surge in health-consciousness among consumers during the pandemic. However, due to severe disruption of supply chains, there was a shortage of raw materials, which limited the profitability of small-scale and large-scale functional beverages manufacturers. The insufficient product supply created a demand and supply gap, which affected the growth of the functional beverages market. However, the market is moving toward stability as various country governments relaxed the previously imposed restrictions. Manufacturers are recovering from the losses as they are operating with full capacity.  The report segments the functional beverages market as follows:

Based on product type, the functional beverages market is segmented into energy drinks, sports drinks, fortified juices, functional water, and others. In terms of distribution channel, the market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. On the basis of geography, the functional beverages market is primarily segmented into North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM).

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi

E-mail: sales@theinsightpartners.com

Phone: +1-646-491-9876

 

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