Functional beverages serve as a nutritional drink for enhancing the digestive process and includes ingredients such as nootropics, minerals, herbs, minerals, raw vegetables or fruits, amino acids, and others. In 2019 April, the Coca Cola Company declared the launch of a low-calorie range of functional and flavored drinks called ‘Aquarius.’ This product guarantees to be composed of important minerals in combination with various flavors such as magnesium in lime flavor and zinc in lemon flavor.
Such innovations are likely to bode well for the global functional beverage market, says Fortune Business Insights™ in their report titled, “Functional Beverage Market Size, Share & Industry Analysis, By Type (Fortified Juice, Energy Drink, Sports Drink, Dairy-based Beverage, Ehanced Water, Others), By Distribution Channel (Supermarket/Hypermarket, Departmental Stores, Health Stores, Online Stores, Others), and Regional Forecast 2019-2026.”
Some of the key players in the functional beverage market include:
- Glanbia Plc.
- Kraft Heinz Company
- Universal Nutrition
- Danone S.A.
- The Coca-Cola Company
- Red Bull GmbH
- Nestle S.A.
- The Hain Celestial Group
- Fonterra Co-operative Group Limited
- Suntory Holdings Ltd.
- PepsiCo Inc.
The functional beverage market analysis provides a comprehensive overview of the functional beverage market primarily focusing on the growth trajectories. These include functional beverage market trends, key drivers, restraints, challenges and opportunities that lie ahead. It also emphasizes on major industry developments of the market and other interesting insights of the market. Besides this, the report presents a list of significant players and prime strategies adopted by them to gain a foothold in the competition. For more information on the report, log on to the company website.
High Nutritional Properties of Functional Beverage to Help Market Gain Impetus
The growing trend of health consciousness is further propelling the demand for healthier drinks. The increase in demand for healthy drinks has replaced carbonated drinks in the overall market. As per a lead analyst at Fortune Business Insights™, the aforementioned factor is likely to promote the overall functional beverage market growth. Apart from that, functional beverages consist of potentials to aid heart health, immune health, boost energy, helping in weight loss, and others and this is also anticipated to attract high functional beverage market revenue in the forecast period.
On the contrary, the high price of functional beverages may cause hindrance to the market in the long run. Nevertheless, the non-alcoholic nature of functional beverages makes the market open for people of all age categories, and this is predicted to further increase the overall functional beverage market size in the forecast period.
Rising Health Consciousness Among Consumers to Help Attract Significant Revenues from Asia Pacific
Geographically, the market is dominated by North America on account of the rise in awareness about the health benefits of functional beverages and its increasing demand in the market. In addition, the presence of major manufacturers in the region with an increasing number of functional ready-to-drink beverage companies in the U.S. is further anticipated to help this region contribute a major functional beverage market share in the forecast period.
On the other side, Asia Pacific and Europe markets are likely to grow significantly in the forecast period on account of rising in demand for functional beverages especially from nations such as Japan, China, Germany, and UK. There is a surge in health consciousness among customers in Asia and this is likely to create lucrative functional beverage market growth opportunities in the near future.
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Major Segments includes:
- Fortified Juice
- Energy Drink
- Sports Drink
- Dairy-based Beverage
- Enhanced Water
By Distribution Channel
- Departmental Stores
- Health Stores
- Online Stores
Launch of New Beverages with Essential Nutrients – Key Strategy Adopted by Players
Key functional beverage market manufacturers are concentrating on strengthening the product portfolio and launching novel products to maintain their position in the market. Companies such as Fonterra Cooperative Group Limited, PepsiCo Inc., and The Coca-Cola Company are some of the significant players in the market at present. Apart from this, companies are also investing huge sums into the developmentand launch of new beverages with unique flavors and essential nutrients that will further help to attract high functional beverage market revenue during the forecast period.
Some of the key industry developments in the functional beverage market are:
August 2017 – The launch of first-ever ready-to-drink (RTD) functional coffee was announced by a key dispensed beverage maker company, JoeFroyo. This functional coffee includes probiotics, caffeine, and protein. This product promises to be free of soy, trans fats, and processed sugars, claiming it to be gluten-free.
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