Market Size of Health Drinks Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.49 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Health Drinks Market Analysis
The Health Drinks Market size is expected to grow from USD 344.36 billion in 2023 to USD 408.80 billion by 2028, at a CAGR of 3.49% during the forecast period (2023-2028).
The health drinks market is one of the fastest-growing markets in the world. Consumers are heeding the proliferation of linking food and beverage consumption with health. Owing to this factor, consumers are increasingly shifting toward maintaining a healthy lifestyle that aids in sustaining fitness while reducing the chances of lifestyle diseases. This factor, coupled with other factors, such as rising healthcare expenditures and increasing urbanization rates, drives the demand for sports nutrition products. New formulations and improved marketing schemes fuel the health drinks like functional water. In terms of flavors, citrus varieties dominate the market studied, but the market studied has witnessed the penetration of various new flavors.
The most popular but also the least exotic is adding fruit or herb extract, such as lime, strawberry, CBD, and aloe vera, among others, to give the consumer a vitamin boost. Limited edition and seasonal variants, such as Spendrups' gingerbread water, Ondrasovka's orange and cinnamon concoction, Danone's coconut and pineapple flavors, are also emerging. Moreover, a significant increase in the number of casual or recreational users, professional bodybuilders, and athletes, as well as the growing number of young people opting for sports as their career, is also contributing positively to the market growth.
