Functional Beverages Market Forecast to Climb to $179.8 Billion by 2029

 

Meticulous Research®—a leading global market research company, published a research report titled, ‘Functional Beverages Market by Type (Energy Drinks, Sports Drinks, Dairy Beverages), Application (Health & Wellness, Weight Management), Distribution Channel (Supermarkets, Convenience stores, E-commerce), and Geography - Global Forecasts to 2029.

Download Free Sample Report@ https://www.meticulousresearch.com/download-sample-report/cp_id=5407?utm_source=pdf&utm_medium=social&utm_campaign=product&utm_content=30-07-2024

According to the latest report by Meticulous Research®, the functional beverages market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 6.7% from 2022 to 2029, reaching $179.8 billion by 2029. This market expansion is primarily driven by the rising demand for functional beverages in emerging economies, the growing popularity of sports drinks, and increased health expenditures. However, the availability of healthier alternatives and the higher prices of functional beverages compared to conventional ones may impede market growth to some extent.

Market Segmentation:

Energy Drinks

Sports Drinks: Expected to register the highest CAGR during the forecast period, fueled by their increasing popularity among teenagers and adults engaged in sports and physical activities, health-conscious consumer preferences, and the demand for clean or non-GMO food products.

Dairy-based Beverages

Nutraceutical Drinks

Vegetable & Fruit Beverages

Other Beverages

By Application:

Health & Wellness

Weight Management

By Distribution Channel:

Supermarkets & Hypermarkets

Convenience Stores: Predicted to hold the largest share of the market in 2022.

Pharmacies & Health Stores

E-commerce: Expected to witness the highest CAGR during the forecast period, driven by the availability of a diverse range of products, attractive discounts, and convenient home delivery services.

By Geography:

North America: Projected to command the largest share of the market in 2022, driven by heightened awareness of the health benefits of functional beverages and strong demand for innovative and healthier food & beverage options.

Europe: Includes Germany, Spain, Italy, France, the U.K., Russia, and the Rest of Europe.

Asia-Pacific: Expected to witness the fastest growth during the forecast period, driven by increasing incidences of diabetes and obesity, rising low-carb and clean-label trends, growing demand for sugar-free products, and heightened awareness of health and fitness.

Latin America: Includes Brazil, Argentina, Mexico, and the Rest of Latin America.

The functional beverages market exhibits a moderately competitive landscape, featuring numerous global, regional, and local players. Key players in the market include Danone S.A. (France), Meiji Holdings Co., Ltd. (Japan), Monster Beverage Corporation (U.S.), National Beverage Corp. (U.S.), Nestle S.A. (U.S.), PepsiCo, Inc. (U.S.), Red Bull GmbH (Austria), Suntory Holdings Limited (Japan), The Coca-Cola Company (U.S.), and The Kraft Heinz Company (U.S.).

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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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