Functional Beverages Industry Forecast to Surge 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=article&utm_medium=social&utm_campaign=product&utm_content=28-08-2024


According to Meticulous Research®’s latest report, the functional beverages market is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.7% from 2022 to 2029, reaching a value of $179.8 billion by 2029. This growth is largely driven by increasing demand in emerging markets, rising popularity of sports drinks, and greater health-related expenditures. However, challenges such as the availability of healthier alternatives and higher costs compared to traditional beverages may slightly hinder market expansion.

Market Segmentation:

  • Energy Drinks
  • Sports Drinks: Expected to achieve the highest CAGR during the forecast period due to their growing appeal among both teenagers and adults involved in sports and fitness, increased health consciousness, and preference for clean or non-GMO products.
  • Dairy-based Beverages
  • Nutraceutical Drinks
  • Vegetable & Fruit Beverages
  • Other Beverages

By Application:

  • Health & Wellness
  • Weight Management

By Distribution Channel:

  • Supermarkets & Hypermarkets
  • Convenience Stores: Anticipated to hold the largest market share in 2022.
  • Pharmacies & Health Stores
  • E-commerce: Expected to experience the highest CAGR due to a wide product range, enticing discounts, and convenient home delivery.

By Geography:

  • North America: Projected to dominate the market in 2022, driven by increased awareness of the health benefits of functional beverages and strong demand for innovative, healthier food and drink options.
  • Europe: Includes Germany, Spain, Italy, France, the U.K., Russia, and the Rest of Europe.
  • Asia-Pacific: Expected to grow the fastest, fueled by rising cases of diabetes and obesity, low-carb and clean-label trends, increased demand for sugar-free products, and greater health and fitness awareness.
  • Latin America: Includes Brazil, Argentina, Mexico, and the Rest of Latin America.

The functional beverages market features a moderately competitive landscape with numerous global, regional, and local players. Major companies 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.).

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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