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Global Functional Beverage Market: By Type: Energy Drinks, Sports Drinks, Fortified Juices, Dairy and Dairy Alternative Beverages, Others; By Distribution Channel: Supermarket/Hypermarket, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Functional Beverage Market Outlook
The global functional beverage market is expected to grow at a CAGR of 7% in the forecast period of 2023-2028.
Increased Adoption of Dairy and Dairy Alternative Beverages to Propel the Global Functional Beverage Industry Growth
Based on type, the dairy and dairy alternative beverages segment is anticipated to possess a substantial market share in the functional beverage industry. This growth can be attributed to the rising consumer demand for healthy hydration products such as milk and yoghurt drinks that are rich in probiotics. In addition, plant-based drinks, such as soy-based milk, are gaining popularity among consumers due to the growing trend of veganism.
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Meanwhile, online retail stores based on distribution channel are anticipated to witness an increased demand in the coming years, owing to a wide range of functional beverages available online, along with the rising accessibility to internet connectivity worldwide.
North America to Provide Profitable Growth Opportunities to the Global Functional Beverage Industry
North America is projected to occupy a significant share of the functional beverage industry in the forecast period. This growth can be attributed to the rising awareness among consumers pertaining to the health benefits associated with the intake of functional beverages. Additionally, the high consumer purchasing power and improved living standards are also anticipated to aid the market growth in the coming years.
Functional Beverage: Market Segmentation
Functional beverage refers to conventional liquid food that is marketed as a product with additional health benefits and performance improving substances or additives. Functional beverages include energy drinks, dairy beverages, and sports drinks, among others. These beverages comprise nutritional elements such as vitamins, minerals, amino acids, and others, depending upon their type, along with bioactive compounds that are helpful in improving health performance.
By type, the market is divided into:
- Energy Drinks
- Sports Drinks
- Fortified Juices
- Dairy and Dairy Alternative Beverages
- Others
Based on distribution channel, the market can be categorised into:
- Supermarket/Hypermarket
- Pharmacies/Health Stores
- Convenience Stores
- Online Retail Stores
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Escalating Health Consciousness to Bolster the Growth of the Global Functional Beverage Industry
The rising awareness among consumers regarding the nutritional benefits associated with the consumption of functional beverages, such as energy drinks, fruit juices, and probiotic drinks, is anticipated to propel the market growth in the forecast period. The market is further supported by the rising incidences of chronic illnesses worldwide. For instance, in 2020, during the COVID-19 pandemic, functional beverages witnessed a significant demand to improve health and immunity. Additionally, the growing demand for digestive health drinks such as yoghurts is also predicted to aid the industry growth. Furthermore, growing investments by the leading market players in the development of functional beverages with new ingredients are projected to positively catalyse the market growth. For instance, in November 2021, the founders of Oatly and Fiji Water announced the relaunch of their functional sparkling water Good Idea, which comprises a mix of 5 amino acids with chromium, in the US. Good Idea boasts its scientifically proven ability to reduce blood sugar levels. Such factors are estimated to positively impact the market growth in the forecast period.
Key Industry Players in the Global Functional Beverage Market
The report gives a detailed analysis of the following key players in the global functional beverage market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- PepsiCo Inc.
- Red Bull GmbH
- The Coca-Cola Company
- Danone S.A
- Monster Beverage Corporation
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Distribution Channel, Region |
| Breakup by Type | Energy Drinks, Sports Drinks, Fortified Juices, Dairy and Dairy Alternative Beverages, Others |
| Breakup by Distribution Channel | Supermarket/Hypermarket, Pharmacies/Health Stores, Convenience Stores, Online Retail Stores, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | PepsiCo Inc., Red Bull GmbH, The Coca-Cola Company, Danone S.A, Monster Beverage Corporation, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Functional Beverage Market Analysis
8.1 Key Industry Highlights
8.2 Global Functional Beverage Historical Market (2018-2022)
8.3 Global Functional Beverage Market Forecast (2023-2028)
8.4 Global Functional Beverage Market by Type
8.4.1 Energy Drinks
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Sports Drinks
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Fortified Juices
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Dairy and Dairy Alternative Beverages
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Others
8.5 Global Functional Beverage Market by Distribution Channel
8.5.1 Supermarket/Hypermarket
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Pharmacies/Health Stores
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Convenience Stores
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Online Retail Stores
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Others
8.6 Global Functional Beverage Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
9 North America Functional Beverage Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Functional Beverage Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Functional Beverage Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Functional Beverage Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Functional Beverage Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 PepsiCo Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Red Bull GmbH
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 The Coca-Cola Company
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Danone S.A
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Monster Beverage Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Functional Beverage Market: Key Industry Highlights, 2018 and 2028
2. Global Functional Beverage Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global Functional Beverage Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global Functional Beverage Historical Market: Breakup by Distribution Channel (USD Million), 2018-2022
5. Global Functional Beverage Market Forecast: Breakup by Distribution Channel (USD Million), 2023-2028
6. Global Functional Beverage Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Functional Beverage Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Functional Beverage Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Functional Beverage Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Functional Beverage Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Functional Beverage Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Functional Beverage Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Functional Beverage Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Functional Beverage Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Functional Beverage Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Functional Beverage Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Functional Beverage Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Functional Beverage Market Structure
Key Questions Answered in the Report
The global functional beverage market is projected to grow at a CAGR of 7% between 2023 and 2028.
The major drivers of the industry, such as the increased demand for nutraceuticals, rising disposable incomes, improved living standards, and rising investments by the leading market players to develop new variants, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the rising health consciousness and the growing product innovations.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant product types include energy drinks, sports drinks, fortified juices, dairy and dairy alternatives, and others.
The significant distribution channels of the product include supermarket/hypermarket, pharmacies/health stores, convenience stores, online retail stores, and others.
The major players in the industry are PepsiCo Inc., Red Bull GmbH, The Coca-Cola Company, Danone S.A, Monster Beverage Corporation, and others.
Analyst Review
The global functional beverage market is being driven by the rising health consciousness worldwide. Aided by the growing innovations by the leading industry players, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 7%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the market can be distributed into energy drinks, sports drinks, fortified juices, dairy and dairy alternatives, and others. On the basis of distribution channel, the industry can be segregated into supermarket/hypermarket, pharmacies/health stores, convenience stores, online retail stores, and others. The major regional markets for functional beverage are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include PepsiCo Inc., Red Bull GmbH, The Coca-Cola Company, Danone S.A, Monster Beverage Corporation, and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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