Industry Growth: Functional Beverages Market Expected to Reach $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=30-07-2024

A recent report by Meticulous Research® forecasts that the global functional beverages market will grow at a Compound Annual Growth Rate (CAGR) of 6.7% between 2022 and 2029, reaching a total value of $179.8 billion by the end of the period. The market expansion is primarily driven by increasing demand for functional drinks in developing economies, the rising popularity of sports beverages, and growing health expenditures. Nevertheless, the presence of healthier alternatives and the higher cost of functional beverages compared to conventional options may pose challenges to market growth.

Market Segmentation:

By Product Type:

  • Energy Drinks
  • Sports Drinks: Expected to register the fastest CAGR during the forecast period, driven by their growing popularity among teenagers and active adults, rising health consciousness, and the demand for clean-label, 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: Forecast to hold the largest market share in 2022.
  • Pharmacies & Health Stores
  • E-commerce: Expected to see the highest CAGR, driven by a broad selection of products, appealing discounts, and the convenience of home delivery.

By Region:

  • North America: Anticipated to account for the largest market share in 2022, spurred by increased awareness of the health benefits of functional beverages and robust demand for innovative, healthy food and drink options.
  • Europe: Includes major countries like Germany, France, Italy, Spain, the U.K., and Russia.
  • Asia-Pacific: Predicted to experience the fastest growth during the forecast period, supported by the rising incidence of diabetes and obesity, increased demand for clean-label and sugar-free products, and heightened health consciousness.
  • Latin America: Includes Brazil, Mexico, Argentina, and other countries in the region.

The functional beverages market is moderately competitive, with key players including Danone S.A. (France), Meiji Holdings Co., Ltd. (Japan), Monster Beverage Corporation (U.S.), National Beverage Corp. (U.S.), Nestlé 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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