The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Increasing awareness of health issues are expected to drive innovation in functional beverages manufacturing, thus driving the market during the forecast period.

The global functional beverages market is expected to grow from $131.47 billion in 2022 to $147.7 billion in 2023 at a compound annual growth rate (CAGR) of 12.4%. The global functional beverages market size is expected to grow from $224.99 billion in 2027 at a CAGR of 11.1%.

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Global Functional Beverages Market Segments Include:

• By Type: Energy Drinks, Sports Drinks, Nutraceutical Drinks, Dairy-based Beverages, Juices, Enhanced Water, Other Types
• By Function: Health & Wellness, Weight Management
• By Distribution Channel: Brick & mortar, Online
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global functional beverages market in 2021.

Major Market Players in the functional beverages market include Danone, Clif Bar & Company, Universal Nutrition, Cloud 9, The Coca-Cola Company, Monster Beverage Corporation.

The manufacturing of low-calorie natural sweeteners and the use of natural colors and ingredients are promoting the growth of functional beverages. Major players dealing in the industry are adopting various strategies in order to meet consumer requirements. For instance, in April 2021, Manus Bio, Inc., a US-based company operating in natural ingredients, announced the launch of NutraSweet Natural, a plant-based sweetener with zero calories. NutraSweet Natural is produced by isolating the sweetest and purest parts of the stevia leaf, which are incorporated into a proprietary blend to create the exact taste of sugar without the calories while minimizing its environmental footprint.

The Functional Beverages Global Market Report 2023  provides a functional beverages market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The functional beverages market forecast analyzes functional beverages market size, functional beverages market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Functional beverages are non-alcoholic drinks that contain non-traditional ingredients such as vitamins, minerals, dietary fibers, probiotics, and added fruits.

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