Functional Drinks Market - Positive Long-Term Growth Outlook 2024

Global Functional Drinks Market: Overview

Over the past few years, the global market for functional drinks has witnessed a tremendous growth owing to the rising awareness about their benefits. These benefits include immune system strengthening, mental energy improvement, bone and heart health enhancement, cholesterol management, and other benefits associated with eye health. The changing consumer lifestyles and rising healthcare expenditure are also playing a vital role in the growth of the market. Moreover, the flourishing growth of the retail sector is escalating the growth of the market.

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The research report offers essential insights into the global functional drinks market by meticulously examining the various critical aspects including the classifications, industry chain structure, technological developments, and products. The report serves as a repository of analysis and information regarding competitive landscape, dynamics, and regional segmentation of the market. The various statistics pertaining to the market have also been presented in pictorial and tabular forms for a lucid analysis. The report profiles the key players in the market along with their business strategies, latest developments, market shares, and contact information.

Global Functional Drinks Market: Trends and Opportunities

Since the choices of customers vary significantly in color, taste, and size across the globe, the production and marketing of functional drinks is largely dependent on the region of business. While there is a strong demand for sports and energy drinks in Latin America and Mexico, consumers from western markets such as Europe and the U.S. prefer a wide range of products such as enhanced waters and juices. On the other hand, the consumption of dairy-based drinks is high in Asia Pacific.

Rapid advancements in product development practices coupled with technological enhancements are creating immense growth opportunities for the global functional drinks market. The development of several ingredients that are capable of masking unpleasant tastes of certain omega-3 fatty acids and amino acids are providing a significant boost to the growth of the market. Furthermore, the introduction of ingredient formulation technologies such as particle size reduction and micro-encapsulation is opening new avenues for manufacturers.

Global Functional Drinks Market: Geographical Segmentation

The key regional markets analyzed in the research report are North America, Europe, Asia Pacific, and Rest of the World. North America will continue to represent a large share in the overall market throughout the forecast period. The increasing demand for customized drinks along with the growing popularity of functional drinks across all age groups and strata is augmenting the growth of the region. Europe will be a lucrative market throughout the same period, with the U.K. and Germany being the major contributors.

On the other hand, Asia Pacific is likely to emerge as a promising market owing to the improving standards of living coupled with the increasing health consciousness among consumers. Organization of sports events such as Summer Olympics in Japan in 2020 is likely to trigger the consumption of functional drinks in the region. India, Japan, and China will be the key consumers in the region.

Global Functional Drinks Market: Competitive Landscape

The global functional drinks market is a highly regulated arena with bodies such as the European Food Safety Authority (EFSA) and the Food and Drug Administration (FDA) keeping a close watch on the production of functional drinks. Players in the market are competing fiercely in terms of product innovation. They are utilizing ingredients such as low-calorie natural sweeteners and natural edible colors to ensure product differentiation. Some of the prominent players in the market are Coca-Cola Enterprises, PepsiCo, Red Bull, Kraft, Tata Tea, Nestle, GSK, Jivita LLC, RushNet, Old Orchard Brands, Taut, Cadbury Schweppes, and Energy69.