Functional Beverage Market | Growth | Share | Analysis (2019-2024)
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FUNCTIONAL BEVERAGE MARKET - GROWTH, TRENDS AND FORECAST (2019 - 2024)

Global Functional Beverage Market is segmented by Product (Energy Drink, Fortified Juice, Sports Drinks, Dairy and Dairy Alternative Drinks and others), Sales Channel (Supermarket/Hypermarket, Pharmacy, Health Stores, Convenience Stores, Internet Retailing and Others).

Home Industry Reports Food & Beverage FUNCTIONAL BEVERAGE MARKET - GROWTH, TRENDS AND FORECAST (2019 - 2024)

Market Snapshot

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Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR% (2019-2024):

8.66%

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Market Overview

The global functional beverage market is projected to reach USD 208.13 billion by 2024. It is forecasted to witness a CAGR of 8.66% during the forecast period (2019-2024).Global functional beverage consumption is driven by the consumer’s inclination toward non-alcoholic beverages. Consumers have started to prefer functional drinks over fruit juices and carbonated drinks. Manufacturers are embracing innovation for gaining position in the market. One of the major advantages of functional beverage is that consumers are ready to pay a premium for its various functional advantages.

Scope of the Report

Functional beverage market includes energy drinks, fortified juice, sports drinks, dairy and dairy alternative drinks, and others, which includes enhanced water, ready-to-drink (RTD) tea, and coffee. By sales channel, the market is segmented into supermarket/ hypermarket, health stores, convenience stores, internet retailing, and others.

By Sales Channel
Supermarket/Hypermarket
Health Stores
Convenience Stores
Internet Retailing
Others
By Type
Energy Drinks
Sports Drinks
Fortified Juice
Dairy and Dairy Alternative Beverage
Others
Geography
North America
US
Canada
Mexico
Rest of North America
Europe
Germany
UK
France
Russia
Italy
Spain
Rest of Europe
Asia-Pacific
India
China
Australia
Japan
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
South Africa
Rest of Middle East & Africa

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Key Market Trends

Growing Demand for Healthy Hydration

Healthy hydration refers to the ability of functional beverages, like RTD tea, to provide instant refreshment and mild stimulating benefits that are not considered detrimental, which is otherwise the case with coffee. Thus consumers are developing an affinity for functional beverages, due to its ready-to-drink version that offers enhanced convenience, thereby providing suitable, convenient, and healthy alternative to soft drinks. The organoleptic versatility associated with RTD tea makes it open to manufacturers to innovate alongside the healthy trends that have been resonating more prominently in the North American market.RTD tea and enhanced water are witnessing growing popularity among consumers all around the world, as a result of which the demand for functional beverages is growing.

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Sales growth of Energy Drink

The energy drink market has grown phenomenally in the recent years. These drinks are believed to enhance energy levels, physical alertness, and performance. Energy drinks outperformed the growth of conventional carbonated beverages a long time ago, as they are considered healthy substitutes to sugary carbonated drinks. Energy drinks originated in Japan in the 1960s, to help the working class work for long hours. The drinks then made their way to America in 1997 and are presently gaining traction in developing countries, like India and Brazil. The main constituents of energy drinks are vitamins, minerals, natural ingredients (caffeine, guarana, ginseng), amino acids, and antioxidants. About 31% of the 12-17 year-olds and 34% of the 18-24 year-olds are reported to consume energy drinks regularly. Popular energy drinks include Monster Energy, Red Bull, and  Rockstar.

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Competitive Landscape

Pepsi and Coke dominate the functional beverage market,whereas Monster beverage is witnessing a jump in its share in the market. The growth of a company in the functional beverage industry in future depends on their distribution channel and innovation in their product list with lucrative packaging style.The major companies are located in all regions and the major countries of those regions. However, the players are expanding into countries they currently do not have presence. The most active companies in the functional beverage market include PepsiCo, followed by Suntory Holdings, Fonterra, Nestle, Danone, Coco Cola, and Glanbia PLC.

Major Players

  1. PepsiCo
  2. The Coca-Cola Company
  3. Monster Energy Company
  4. Red Bull GmbH
  5. Danone

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Research Phases

    2. 1.2 Study Deliverables

    3. 1.3 Scope of the Market

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Sales Channel

      1. 5.1.1 Supermarket/Hypermarket

      2. 5.1.2 Health Stores

      3. 5.1.3 Convenience Stores

      4. 5.1.4 Internet Retailing

      5. 5.1.5 Others

    2. 5.2 By Type

      1. 5.2.1 Energy Drinks

      2. 5.2.2 Sports Drinks

      3. 5.2.3 Fortified Juice

      4. 5.2.4 Dairy and Dairy Alternative Beverage

      5. 5.2.5 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 US

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 UK

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Spain

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Australia

        4. 5.3.3.4 Japan

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Most Active Players

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Pepsico

      2. 6.4.2 Red Bull Gmbh

      3. 6.4.3 Danone

      4. 6.4.4 Coca Cola

      5. 6.4.5 Monster Beverage Corporation

      6. 6.4.6 Nestle SA

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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