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Increasing healthcare expenditures are likely to stimulate innovation in the manufacturing of functional drinks, boosting the market over the forecast period.

The global functional drinks market is expected to grow from $43.27 billion in 2022 to $46.58 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The global functional drinks market size is expected to reach $60.13 billion in 2027 at a CAGR of 6.6%.

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Global Functional Drinks Market Segments Include:

• By Product: Energy Beverages, Functional Fruit and Vegetable Juices, Sports Beverages, Functional Water, Other Products
• By Distribution Channel: Hypermarkets Or Supermarkets, Specialty Stores, Online, Other Distribution Channels
• By Application: Health And Wellness, Weight loss
• 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 drinks market in 2021.

Major Market Players in the functional drinks market include The Coca-Cola Company, PepsiCo Inc., Red Bull GmbH, Suntory Beverage and Food Ltd., Danone S.A., Nestlé SA, Kraft Heinz Co., Monster Beverage Corporation, Otsuka Holdings Co. Ltd.

Product innovation is a crucial trend that is gaining traction in the functional drink market. Major players in the functional market are focusing on producing innovative solutions to strengthen their market position. For example, Rockstar Energy Drinks (a subsidiary of PepsiCo Inc.), a US-based beverage manufacturer, debuted Rockstar Unplugged in February 2022, a new energy drink including hemp seed oil and B vitamin components rather than providing a large burst of energy. Rockstar Unplugged, with 80 mg of caffeine, is a one-of-a-kind mix of ingredients that provides an extra energy boost. Caffeine, hemp seed oil, B vitamins, spearmint, and lemon balm are all ingredients in the new calorie- and sugar-free beverage.

The Functional Drinks Global Market Report 2023  provides a functional drinks market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The functional drinks market forecast analyzes functional drinks market size, functional drinks 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.

Nonalcoholic drinks that give health benefits beyond their nutritional value by positively affecting or functionally focussing on the body or mind to produce a state of health and well-being are referred to as functional drinks. Fresh fruit, enzymes, minerals, herbs, protein, amino acids, probiotics, and artificial additions are popular constituents.

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