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

The global functional beverages market is gearing up for remarkable growth, poised to expand from $131.47 billion in 2022 to $147.7 billion in 2023, reflecting a substantial compound annual growth rate (CAGR) of 12.4%. Looking further ahead, the market is anticipated to reach $224.99 billion in 2027, sustaining a commendable CAGR of 11.1%. Let’s delve into the dynamics propelling this surge and the key factors shaping the landscape of functional beverages.

Health Awareness Driving Demand
Functional Beverages on the Rise
A pivotal factor driving the escalating demand for functional beverages is the increasing awareness of health issues. These beverages play a crucial role in enhancing various body functionalities, including heart rate management, digestive health, immune system support, and weight management. Packed with a myriad of vitamins, minerals, herbs, and amino acids, functional beverages are gaining popularity as consumers seek targeted solutions for their health concerns. The shift toward functional beverages is becoming evident as consumers actively pursue products that align with their health and wellness goals. According to the Packaging Strategies journal, the beverage industry is witnessing a significant shift toward functional beverages as consumers prioritize health improvements. The rise of clean-label, organic, and non-GMO products further influences consumer choices, leading them to opt for functional drinks over traditional carbonated beverages and fruit juices.

Market Giants and Innovations
Leaders Paving the Way
Major players in the functional beverages market, including Danone, The Coca-Cola Company, and Nestle, are driving innovation and shaping the industry landscape. These key players are adopting strategies to meet evolving consumer preferences, contributing to the market’s growth. For instance, Manus Bio, Inc., a U.S.-based company specializing in natural ingredients, launched NutraSweet Natural in April 2021. This plant-based sweetener with zero calories is derived by isolating the sweetest and purest parts of the stevia leaf. NutraSweet Natural offers the exact taste of sugar without the associated calories, addressing the increasing demand for low-calorie natural sweeteners. The industry’s focus on natural ingredients, including colors, sweeteners, and other components, is a testament to its commitment to meeting the evolving needs of health-conscious consumers.

Segmentation: A Diverse Offering
Diverse Options for Discerning Consumers
The functional beverages market is segmented based on various criteria:

1. Type: Energy Drinks, Sports Drinks, Nutraceutical Drinks, Dairy-based Beverages, Juices, Enhanced Water, Other Types
2. Function: Health & Wellness, Weight Management
3. Distribution Channel: Brick & Mortar, Online

Understanding these segments is crucial for both industry players and consumers to navigate the diverse landscape of functional beverages and choose products that align with their preferences and health objectives.

Regional Dominance
Asia-Pacific Takes the Lead
In 2022, Asia-Pacific emerged as the largest region in the functional beverages market. The region’s dominance is attributed to factors such as a burgeoning population, rising health awareness, and a growing demand for wellness-oriented products. As other regions follow suit, Asia-Pacific is expected to maintain its lead, driving the global functional beverages market forward.

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https://www.thebusinessresearchcompany.com/report/functional-beverages-global-market-report

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The Functional Beverages Global Market Report 2023  provides comprehensive insights on the functional beverages market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the functional beverages market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Functional Foods Global Market Report 2023
Functional Food Ingredients Global Market Report 2023
Food And Beverages Global Market Report 2023

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