Functional beverages market worth $265.9 billion by 2030

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JERSEY CITY, NJ, January 25, 2022 /PRNewswire/ — The recently released report titled “Global Functional Beverage Market – By Trends, Industry Competitive Analysis, Revenue (USD Billion) and Forecast to 2030″. of the report presents an in-depth analysis and in-depth study on the industry, exploring its important factors.

According to the latest InsightAce Analytic business intelligence research report, the global functional beverages market size was valued at US$118.7 billion in 2021, and it is expected to reach US$265.9 billion in 2030, register a promising CAGR of 9.38% from 2021 to 2030.

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The importance of food and drink in the prevention and treatment of disease has been increasingly recognized in recent years. Thus, functional drinks have been accepted by conscientious consumers due to their perceived health benefits. These are non-alcoholic beverages that contain bioactive substances such as vitamins, minerals, antioxidants, omega-3 fatty acids, plant extracts, fiber, prebiotics and probiotics, as well as other nutrients and bioactive compounds. The consumption of these drinks is linked to weight management, improved energy, sports endurance, hydration. These are linked to several health benefits such as healthy cardiovascular (CV) system, healthy digestive system, immune defense, cholesterol management, among others. At present, functional beverages have become increasingly popular due to various key factors ranging from convenience to handle, ease of storage and dispensing, ability to meet consumer demand and shelf stability. Commercially available functional drinks can be divided into several categories, including energy drinks, sports drinks, cannabis-infused drinks, functional fruit and vegetable juices, and other dairy-based drinks.

Market growth is expected to be driven by the number of fitness enthusiasts and the growing inclination of consumers from sugary soft drinks towards healthier alternatives. Moreover, increasing disposable incomes and rising health awareness are also driving the demand for functional beverages. This growth allows industry players to introduce low-calorie, low-fat castors and add flavoring additives to fruits and vegetables such as vegan, probiotic and plant-based beverages, thereby increasing the market growth. E-commerce plays an essential role in market development since it makes it easier for businesses to reach a wider customer base.

COVID-19 has had a positive impact on the functional beverages market. The covid-19 outbreak has influenced people’s food buying and eating behaviors. Consumers are gradually turning to healthier foods and beverages to boost their immunity. This has led to a growing demand for functional drinks.

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Major players in the functional beverage industry include:

Archer Daniels Midland Company, Arla food, Æcorn Appetizers, Campbell Soup Co., Clif Bar & Company, Danone SA, DuPont Nutrition & Health, Fonterra Co-operative Group Limited, General Mills, Inc., Glanbia PLC, Kraft Foods Group, Inc., LycoRed Ltd., Monster Energy Company, Dr. Pepper Snapple Group, National Beverage Corp, Nestlé SA, PepsiCo, Inc., Red Bull Gmbh, Suntory Holdings Limited, Tata Global Beverages, The Coca-Cola Company, The Kraft Foods Group, Thomson & Scott Ltd., Seedlip, Domaines Pierre Chavin, Club Soda, H2OPS, BevZero, Caleno Drinks, Ferm Fatale, Pernod Ricard, MeMento srl, Cannabiniers, General Cannabis, Canopy Growth Corporation, Aurora Cannabis, Aphria Inc., Tilray, Daytrip Beverages, Lagunitas Brewing Company, Koios Beverage Corp., CBD Biotechnology Co. Ltd, G&Juice, K-Zen Beverages Inc., NewAge Inc., Alkaline88 LLC, Phivida Holdings Inc., CANNABIS SATIVA INC, Puration, Honeydrop Beverages, Buchi Kombucha, Cell – Nique Corporation, Equinox Kombucha, Fix8 Kombucha, Flying Embers, Gt’s Kombucha, Captain GUTsy, Hain Celestial Group, Health-Ade LLC, Heal P ro biotics, HIGH COUNTRY, Kevita, Inc., Kombucha Me Pty Ltd., Kombucha Wonder Drink, Kosmic Kombucha, Live Soda Kombucha, Local Roots Kombucha, Makana Beverages Inc., Nesalla Kombucha, Pronatura, Red Bull GmbH, Reed’s Inc., Revive Kombucha, SOUL BREW KOMBUCHA, Strappa Live Kombucha, Humm Kombucha LLC, Townshend’s Tea Company, Yogi Tea, Nexba, Tea-Biotics Kombucha, Bootstrap Kombucha, Stratus Group, Flying Embers, JuneShine, Boochcraft, Better Booch, Rowdy Mermaid Kombucha, NOVA Kombucha, Lyre’s Spirit Co, Maria & Craig’s (CBD Botanical Spirit), Lucky Saint, Whiteside Drinks, Drink Dry Store, Big Drop Brewing Co Ltd., Real Kombucha, JoyBrau Functional Beer, Freestar Drinks, Ferm Kombucha and other important players .

Key industry developments from major players:

  • In October 2021, Barry Callebaut introduced a new healthier drink mix made from 100% cocoa fruit that will be available to manufacturers around the world for use in different types of drinks. This launch is the latest product to come out of by Barry Callebaut focus on using the whole cocoa fruit in products
  • In January 2020, Sports drink brand Coca Cola Powerade introduced its new product portfolio with the launch of two sugar-free drinks, Powerade Ultra and Powerade Power Water. Powerade Ultra includes creatine, branched chain amino acids, vitamins B3, B6 and B12. Powerade Ultra is available in three different flavors including Mixed Berry, White Cherry and Citrus Blast
  • In June 2019, Kraft Heinz has launched a new brand of single-serve smoothie called Fruitlove, which blends yogurt with three fruits and vegetables. It is available in four flavors including Banana, Strawberry, Twirl, Harvest Berry Blend, Mango Medley, Pineapple Coconut Bliss, and Blueberry Dream.
  • In March 2019, Revive Kombucha has announced the launch of Revive Sparkling Kombucha, a traditionally fermented, organic, shelf stable craft beer. Revive bolsters its innovative approach to batch brewing and natural fermentation methods with the launch of this new product line, which is nearly identical to its raw and chilled bottled Kombucha

Functional drinks Regional Market Analysis:

North America controlled the global market with a 42% share in 2021. North America is the largest market for functional beverages owing to its well-established economy and high standard of living with a healthy growth rate. The popularity of calorie-free, sugar-free and low-carb soft drinks is growing in the region. Beverages are a key contributor to the overall nutritional and caloric intake of the American population and play an important role in meeting total water requirements. The 2015-2020 Dietary Guidelines for Americans recommend that water, skim and low-fat milk, and 100% juice be the primary beverages consumed. Followed by North AmericaThe Asia Pacific expected to be the fastest growing functional beverage market. Demand from Chinese and Japanese markets is accelerating market growth in this region.

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The global market for functional beverages segments

Global Functional Beverages Market Estimates (Value in Billion US$) and Forecast and Trend Analysis, 2019 to 2030 based on Some products,

  • Energy drinks
  • Sports drinks
  • Cannabis-infused drinks
  • Kombucha
  • Aperitif without alcohol
  • Nutraceutical drinks
  • Functional fruit and vegetable juices
  • Improved water
  • Milk-based drinks
  • Others products

Global Functional Beverages Market Estimates (Value in Billion US$) and Forecast and Trend Analysis, 2019 to 2030 based on Functions,

  • Health
  • weight management

Global Functional Beverages Market Estimates (Value in Billion US$) and Forecast and Trend Analysis, 2019 to 2030 based on Distribution channel,

  • convenience stores
  • Online retail
  • Pharmacies
  • Supermarket/Hypermarket

Global Functional Beverages Market Estimates (Value in Billion US$) and Forecast and Trend Analysis, 2019 to 2030 based on Region

  • Europe
  • North America
  • Latin America
  • Asia Pacific
  • Middle East & Africa

North America functional beverage market estimates (USD billion) by country, from 2019 to 2030

Europe functional beverage market estimates ($ billion) by country, from 2019 to 2030

  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe

Asia-Pacific functional beverage market estimates ($ billion) by country, from 2019 to 2030

  • India
  • China
  • Japan
  • South Korea
  • Australia & New Zealand

Latin America functional beverage market estimates ($ billion) by country, from 2019 to 2030

  • Brazil
  • Mexico
  • Rest of Latin America

the Middle East & Africa Functional Beverages Market Estimates Revenue (USD Billion) by Country, 2019 to 2030

  • GCC countries
  • South Africa
  • The rest of Middle East & Africa

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Other related reports published by InsightAce Analytics:

Global ready-to-drink (RTD) alcohol market

Global low and non-alcoholic beverages market

Global kombucha market

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