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The global functional beverage industry is being driven by the growing awareness among consumers pertaining to health and fitness. This can be attributed to a range of health benefits offered by functional beverages, as they contain minerals, vitamins, and probiotics, among others. In addition, the growing demand for immunity enhancing beverages to help with the prevention of health issues is also leading to increased consumption of functional beverages, as they are convenient to drink and also have a prolonged shelf life. This is projected to significantly catalyse the industry growth in the coming years.
The growing consumer demand for healthy hydration products is driving leading players to increasingly invest in the development of innovative functional beverages, which is estimated to significantly catalyse the industry growth in the forecast period. For instance, in May 2021, PepsiCo Inc. (NASDAQ: PEP) announced the launch of its new sparkling water beverage, Soulboost, which contains real fruit and some functional ingredients such as L-theanine and panax ginseng. It comes in two variants, lift and ease, that offer four fruit flavours. Furthermore, in March 2021, another leading functional beverage manufacturer, Nestlé S.A. (OTCMKTS: NSRGY), announced the acquisition of Essentia Water, a premium functional water brand based in Washington, which pioneered ionized alkaline water. These developments are estimated to positively impact the growth of the functional beverage industry in the forecast period.
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The major players in the global functional beverage market are PepsiCo Inc., Red Bull GmbH, The Coca-Cola Company, Danone S.A, Monster Beverage Corporation, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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