Functional Drinks Market to grow by USD 57.04 billion from 2022 to 2027 | The new product launches drive the market - Technavio

NEW YORK, Aug. 22, 2023 /PRNewswire/ — The functional drinks market size is to grow by USD 57.04 billion from 2022 to 2027, at a CAGR of 8.28% during the forecast period. The market is fragmented due to the presence of diversified international and regional vendors. The new product launches are notably driving the functional drinks market growth. In recent years, global market players have been directing their efforts toward introducing new products. A diverse array of flavored products boasting distinct health advantages is being unveiled. For instance, Pepsico launched Driftwell in 2020, a beverage aimed at assisting consumers in relaxation and unwinding before sleep. Likewise, IVUSION Beverage Company LLC introduced IVUSION in the same year, a hydration drink that offers hydration without excessive sugar. This innovation is crafted by medical professionals inspired by IV therapy. The proliferation of such advancements within companies is anticipated to propel market growth throughout the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report

Functional Drinks Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The functional drinks market report covers the following areas:

Functional Drinks Market 2023-2027: Company Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Archer Daniels Midland Co., Clif Bar and Co., Danone, Glanbia Plc, Gujarat Cooperative Milk Marketing Federation, Kerry Group Plc, Keurig Dr Pepper Inc., Kruger GmbH and Co. KG, Lifeway Foods Inc., Monster Beverage Corp., Nestle SA, OtsUKa Holdings Co. Ltd., PepsiCo Inc., Probi AB, Red Bull GmbH, Suntory Beverage and Food Ltd., The Coca Cola Co., The Kraft Heinz Co., and Yakult Honsha Co. Ltd. are among some of the major market participants.

Company Offerings

Archer Daniels Midland Co. – The company offers functional drinks that include cider, spirits, and drinks such as wine which can be consumed as per the requirements.
Clif Bar and Co. – The company offers functional drinks that include energy gel and energy drink mix which are beneficial for tired muscles and crafted for recovery after activity.
Danone – The company offers functional drinks that are consumed for daily use under the brand names Aqua, Bonafont, Evian, Volvic, and Salus.

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Global competitiveness and key competitor positions
Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial
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Market Dynamics

Major Trends

The growing popularity of e-commerce is the primary trend driving the growth of the functional drinks market. The rise of e-commerce platforms and the widespread adoption of smartphones have facilitated companies in selling functional drinks through online channels. Emerging economies like China and India are observing a surge in the establishment of online grocery stores in major urban centers, catering to the demand for various products, including functional beverages. This trend is motivating market players to expand their digital presence, a move that enables cost savings in terms of operations and overhead compared to traditional physical stores. Moreover, the advantages inherent in e-commerce platforms, such as readily accessible product information and an enhanced shopping experience, are contributing to the upward trajectory of online sales for functional drinks. These combined factors are propelling the growth of the market.

Significant Challenge – The increasing concerns about obesity are the major challenges impeding the functional drinks market growth.

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Functional Drinks Market 2023-2027: Segmentation

Functional Drinks Market is segmented as below:

Product

Energy Beverages
Functional Fruit And Vegetable Juices
Sports Beverages
Prebiotic And Probiotic Drinks
Others

Application

Health
Wellness
Weight Loss

Geography

APAC
North America
Europe
South America
Middle East And Africa

Energy drinks are predominantly favored by a demographic of young consumers, typically falling within the age range of 18 to 34 years. Moreover, energy beverages have found a secondary role as mixers for alcoholic cocktails. This dual USAge stems from their ability to mitigate the impact of alcohol, enhance drinking endurance, and alleviate sensations of dizziness. As a result, the demand for energy drinks is on the rise, driven by these consumption trends and preferences within the market.

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Functional Drinks Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027
Detailed information on factors that will assist functional drinks market growth during the next five years
Estimation of the functional drinks market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the functional drinks market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of the functional drinks market, vendors

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Functional Drinks Market Scope
Report Coverage	Details
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 8.28%
Market growth 2023-2027	USD 57.04 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	7.74
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 40%
Key countries	US, Canada, China, Japan, and Germany
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Archer Daniels Midland Co., Clif Bar and Co., Danone, Glanbia Plc, Gujarat Cooperative Milk Marketing Federation, Kerry Group Plc, Keurig Dr Pepper Inc., Kruger GmbH and Co. KG, Lifeway Foods Inc., Monster Beverage Corp., Nestle SA, OtsUKa Holdings Co. Ltd., PepsiCo Inc., Probi AB, Red Bull GmbH, Suntory Beverage and Food Ltd., The Coca Cola Co., The Kraft Heinz Co., and Yakult Honsha Co. Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents

Executive Summary

Market Landscape

Market Sizing

Historic Market Size

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Application

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

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