Global Functional Beverages Market

Report ID : 1188 | Published : 2021-10-07 | Pages: | Format:

A Functional Beverage is a non-alcoholic drink product. It contains essential nutrients and bioactive compounds, including minerals, vitamins, antioxidants, amino acids, herbs, raw fruits, or vegetables. They help boost the immune system and improve the physical and mental health of the body. These beverages include energy drinks, dairy beverages, ready-to-drink tea and coffee, sports drinks, plant milk, fortified fruit drinks, and enhanced water. The functional beverages market is valued at USD 118.7 Bn in 2021, and it is expected to reach USD 265.9 Bn by 2030, with a CAGR of 9.38% during the period 2021-2030. By region, North America controlled the global market with a share of 42 % in 2021.

The rising health awareness among the population and heavy investments by significant food and beverage companies are the primary driver of the functional beverage market. Additionally, the advances in scientific research, low consumption of convenience foods, rising demand for sports & performance drinks, availability of wide varieties of energy drinks and fruit juices, easy product distribution and storage, increasing consciousness about fitness and diets, and changing lifestyle patterns further increasing the demand for functional beverage products, thereby driving the market growth. Consumers' preference is shifting toward more healthy and nutritious food and drink products due to the increasing awareness about fitness, diet, and health.  So, the manufacturers are focusing more on research and development of new products, such as vegan, probiotic, and plant-based drinks. Such advances in beverage products are expected to enhance the global functional beverage market over the forecast years (2020-2030). Furthermore, the current COVID-19 outbreak has accelerated the demand for functional beverages that support the immune system.

On the other hand, food safety problems, strict government regulations, and a lack of awareness about the benefits of functional beverages are expected to restrain the market growth over the forecast period. The functional beverages market is segmented into products, functions, distribution channels, and region. The products segment is classified into energy drinks, sports drinks, cannabis-infused beverages, kombucha, non-alcoholic aperitif, nutraceutical drinks, functional fruit and vegetable juices, enhanced water, dairy-based beverages, and other products. The energy drinks segment is expected to hold the largest share of the global market over the forecast years due to the increasing demand for energy beverages. The sports drinks segment is also growing pidly due to the rising awareness about fitness.

By Functions, the market is divided into health & wellness and weight management. By distribution channel, the market is grouped into convenience stores, online retail, pharmacies, and supermarket/hypermarket. The online retail segment dominated the functional beverages market in 2020 and is expected to continue the trend over the forecast period due to the increasing customer preference towards online shopping. Regionally, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America region is anticipated to dominate this market over the forecast years.

Some of the key players operating in the functional beverages market are Archer Daniels Midland Company (US) , Arla foods (Denmark), Æcorn Aperitifs (UK), Campbell Soup Co. (US), Clif Bar & Company (US), Danone S.A. (France), DuPont Nutrition & Health (Denmark), Fonterra Co-operative Group Limited (New Zealand), General Mills, Inc. (US), Glanbia PLC, Kraft Foods Group, Inc. (Ireland), LycoRed Ltd. (Israel), Monster Energy Company (US), Dr. Pepper SnappleGroup (US), National Beverage Corp (US), Nestlé S.A. (Switzerland), PepsiCo, Inc. (US), Red Bull Gmbh (Austria), Suntory Holdings Limited (Japan), Tata Global Beverages (Bengaluru), The Coca-Cola Company (US), The Kraft Foods Group (US), Thomson &Scott Ltd. (UK), Seedlip (Australia), Domaines Pierre Chavin (France),  and others.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Functional Beverages Market Snapshot

Chapter 4. Global Functional Beverages Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Industry Analysis – Porter’s Five Forces Analysis

4.6. Competitive Landscape & Market Share Analysis

4.7. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: By Products Estimates & Trend Analysis

5.1. By Products & Market Share, 2020 & 2030

5.2. Market Size (Value US$ Bn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Products:

5.2.1. Energy Drinks

5.2.2. Sports Drinks

5.2.3. Cannabis-Infused Beverages

5.2.4. Kombucha

5.2.5. Non-alcoholic Aperitif

5.2.6. Nutraceutical Drinks

5.2.7. Functional Fruit and Vegetable Juices

5.2.8. Enhanced Water

5.2.9. Dairy-based Beverages

5.2.10. Other Products

Chapter 6. Market Segmentation 2: By Functions Estimates & Trend Analysis

6.1. By Functions & Market Share, 2020& 2030

6.2. Market Size (Value US$ Bn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Functions:

6.2.1. Health & Wellness

6.2.2. Weight Management

Chapter 7. Market Segmentation 3: By Distributions Estimates & Trend Analysis

7.1. By Distributions & Market Share, 2020& 2030

7.2. Market Size (Value US$ Bn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Distributions:

7.2.1. Convenience Stores

7.2.2. Online Retail

7.2.3. Pharmacies

7.2.4. Supermarket/Hypermarket

Chapter 8. Functional Beverages Market Segmentation 4: Regional Estimates & Trend Analysis

8.1. North America

8.1.1. North America Functional Beverages Market revenue (US$ Billion) estimates and forecasts By Products, 2019-2030

8.1.2. North America Functional Beverages Market revenue (US$ Billion) estimates and forecasts By Functions, 2019-2030

8.1.3. North America Functional Beverages Market revenue (US$ Billion) estimates and forecasts by Distributions, 2019-2030

8.1.4. North America Functional Beverages Market revenue (US$ Billion) estimates and forecasts by country, 2019-2030

8.2. Europe

8.2.1. Europe Functional Beverages Market revenue (US$ Billion) By Products, 2019-2030

8.2.2. Europe Functional Beverages Market revenue (US$ Billion) By Functions, 2019-2030

8.2.3. Europe Functional Beverages Market revenue (US$ Billion) estimates and forecasts by Distributions, 2019-2030

8.2.4. Europe Functional Beverages Market revenue (US$ Billion) by country, 2019-2030

8.3. Asia Pacific

8.3.1. Asia Pacific Functional Beverages Market revenue (US$ Billion) By Products, 2019-2030

8.3.2. Asia Pacific Functional Beverages Market revenue (US$ Billion) By Functions, 2019-2030

8.3.3. Asia Pacific Functional Beverages Market revenue (US$ Billion) estimates and forecasts by Distributions, 2019-2030

8.3.4. Asia Pacific Functional Beverages Market revenue (US$ Billion) by country, 2019-2030

8.4. Latin America

8.4.1. Latin America Functional Beverages Market revenue (US$ Billion) By Products, 2019-2030

8.4.2. Latin America Functional Beverages Market revenue (US$ Billion) By Functions, 2019-2030

8.4.3. Latin America Functional Beverages Market revenue (US$ Billion) estimates and forecasts by Distributions, 2019-2030

8.4.4. Latin America Functional Beverages Market revenue (US$ Billion) by country, 2019-2030

8.5. Middle East & Africa

8.5.1. Middle East & Africa Functional Beverages Market revenue (US$ Billion) By Products, 2019-2030

8.5.2. Middle East & Africa Functional Beverages Market revenue (US$ Billion) By Functions, 2019-2030

8.5.3. Middle East & Africa Functional Beverages Market revenue (US$ Billion) estimates and forecasts by Distributions, 2019-2030

8.5.4. Middle East & Africa Functional Beverages Market revenue (US$ Billion) by country, 2019-2030

Chapter 9. Competitive Landscape

9.1. Major Mergers and Acquisitions/Strategic Alliances

9.2. Company Profiles

9.2.1. Archer Daniels Midland Company

9.2.2. Arla foods

9.2.3. Æcorn Aperitifs

9.2.4. Campbell Soup Co.

9.2.5. Clif Bar & Company

9.2.6. Danone S.A.

9.2.7. DuPont Nutrition & Health,

9.2.8. Fonterra Co-operative Group Limited

9.2.9. General Mills, Inc.

9.2.10. Glanbia PLC

9.2.11. Kraft Foods Group, Inc.

9.2.12. LycoRed Ltd.

9.2.13. Monster Energy Company

9.2.14. Dr. Pepper Snapple Group

9.2.15. National Beverage Corp

9.2.16. Nestlé S.A.

9.2.17. PepsiCo, Inc.

9.2.18. Red Bull Gmbh

9.2.19. Suntory Holdings Limited

9.2.20. Tata Global Beverages

9.2.21. The Coca-Cola Company

9.2.22. The Kraft Foods Group

9.2.23. Thomson & Scott Ltd.

9.2.24. Seedlip

9.2.25. Domaines Pierre Chavin

9.2.26. Club Soda

9.2.27. H2OPS

9.2.28. BevZero

9.2.29. Caleno Drinks

9.2.30. Ferm Fatale

9.2.31. Pernod Ricard

9.2.32. MeMento srl

9.2.33. Cannabiniers

9.2.34. General Cannabis

9.2.35. Canopy Growth Corporation

9.2.36. Aurora Cannabis

9.2.37. Aphria Inc.

9.2.38. Tilray

9.2.39. Daytrip Beverages

9.2.40. Lagunitas Brewing Company

9.2.41. Koios Beverage Corp.

9.2.42. CBD Biotechnology Co. Ltd

9.2.43. G&Juice

9.2.44. K-Zen Beverages Inc.

9.2.45. NewAge Inc.

9.2.46. Alkaline88 LLC

9.2.47. Phivida Holdings Inc.

9.2.48. CANNABIS SATIVA INC

9.2.49. Puration

9.2.50. Honeydrop Beverages

9.2.51. Buchi Kombucha

9.2.52. Cell - Nique Corporation

9.2.53. Equinox Kombucha

9.2.54. Fix8 Kombucha

9.2.55. Flying Embers

9.2.56. Gt’s Kombucha

9.2.57. GUTsy Captain

9.2.58. Hain Celestial Group

9.2.59. Health-Ade LLC

9.2.60. Heal Probiotics

9.2.61. HIGH COUNTRY

9.2.62. Kevita, Inc.

9.2.63. Kombucha Me Pty Ltd.

9.2.64. Kombucha Wonder Drink

9.2.65. Kosmic Kombucha

9.2.66. Live Soda Kombucha

9.2.67. Local Roots Kombucha

9.2.68. Makana Beverages Inc.

9.2.69. Nesalla Kombucha

9.2.70. Pronatura

9.2.71. Reed’s Inc.

9.2.72. Revive Kombucha

9.2.73. SOUL BREW KOMBUCHA

9.2.74. Strappa Live Kombucha

9.2.75. Humm Kombucha LLC

9.2.76. Townshend’s Tea Company

9.2.77. Yogi Tea

9.2.78. Nexba

9.2.79. Tea-Biotics Kombucha

9.2.80. Bootstrap Kombucha

9.2.81. Stratus Group

9.2.82. Flying Embers

9.2.83. JuneShine

9.2.84. Boochcraft

9.2.85. Better Booch

9.2.86. Rowdy Mermaid Kombucha

9.2.87. NOVA Kombucha

9.2.88. Lyre’s Spirit Co

9.2.89. Maria&Craig’s (CBD Botanical Spirit)

9.2.90. Lucky Saint

9.2.91. Whiteside Drinks

9.2.92. Drink Dry Store

9.2.93. Big Drop Brewing Co Ltd.

9.2.94. Real Kombucha

9.2.95. JoyBrau Functional Beer

9.2.96. Freestar Drinks

9.2.97. Ferm Kombucha

9.2.98. Other Prominent Players

Global Functional Beverages Market, by Products, 2020-2030, (Value US$ Mn)

  • Energy Drinks
  • Sports Drinks
  • Cannabis-Infused Beverages
  • Kombucha
  • Non-alcoholic Aperitif
  • Nutraceutical Drinks
  • Functional Fruit and Vegetable Juices
  • Enhanced Water
  • Dairy-based Beverages
  • Other Products

Global Functional Beverages Market, by Functions, 2020-2030, (Value US$ Mn)

  • Health & Wellness
  • Weight Management

Global Functional Beverages Market, by Distribution channel, 2020-2030, (Value US$ Mn)

  • Convenience Stores
  • Online Retail
  • Pharmacies
  • Supermarket/Hypermarket

Global Functional Beverages Market, by Region, 2020-2030, (Value US$ Mn)

  • 2021North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

North America Functional Beverages Market, by Country, 2020-2030 (Value US$ Mn)

  • U.S.
  • Canada

Europe Functional Beverages Market, by Country, 2020-2030 (Value US$ Mn)

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

Asia Pacific Functional Beverages Market, by Country, 2020-2030 (Value US$ Mn)

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

Latin America Functional Beverages Market, by Country, 2020-2030 (Value US$ Mn)

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa Functional Beverages Market, by Country, 2020-2030 (Value US$ Mn)

  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Competitive Landscape

  • Company Overview
  • Financial Performance
  • Key Development
  • Latest Strategic Developments

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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