According to our latest market study, titled ” Functional Beverages Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Energy Drinks, Sports Drinks, Fortified Juices, Functional Water, and Others) and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others),” The market is projected to reach US$ 145,146.05 million by 2028 from US$ million 85,728.85 in 2021; it is expected to grow at a CAGR of 7.8% from 2021 to 2028.
The rising prevalence of chronic diseases, such as cancer, heart diseases, obesity, and diabetes, is prompting consumers to place a greater emphasis on their health and fitness, which has revealed significant growth opportunities for the functional beverages market players. According to the World Health Organization (WHO), ~17.9 million people died because of CVDs in 2019, accounting for 32% of the deaths worldwide; heart attacks and strokes were the cause of 85% of these deaths. Therefore, people are changing their lifestyles and dietary habits to protect themselves from these chronic diseases. They are adopting active lifestyles, and consuming foods and beverages that offer functional benefits. Functional beverages are enriched with vitamins, minerals, proteins, amino acids, and probiotics, which help in fulfilling all the nutrient requirements of the body. Thus, the growing demand for beverages that offer health benefits is driving the growth of the functional beverages market.
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Impact of COVID-19 Pandemic on Functional Beverages Market
The food & beverage industries across different regions suffered from severe disruption due to lockdowns, travel bans, border restrictions, manufacturing unit shutdowns, among other adversities, after the onset of the COVID-19 pandemic. However, the overall impact of the pandemic on the functional beverages market has been of a mixed type. Demand for functional beverages increased significantly as consumers became more concerned about the nutritional profile of their diet, which presented significant opportunities to the functional beverages market players. The sales of functional beverages increased with the rapid emergence of health and wellbeing trends. Moreover, the demand for immunity-boosting foods and beverages increased during the pandemic. However, due to disruptions in supply chains, functional beverage manufacturers faced the shortage of raw materials, like any other segment of the food & beverages industry, which created a demand and supply gap. However, they began overcoming this gap as they started operating with full capacity in late 2021. Moreover, the majority of the population across the US, Canada, China, India, etc., are vaccinated, which is a positive sign for the global marketplace.
Functional Beverages Market Company Profiles Analysis:
PepsiCo, The Coca-Cola Company, Nestle, Kraft Foods, General Mills, Campbell Soup Company, Red Bull, The Wonderful Company LLC, Danone SA, and Monster Energy Company
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Functional Beverages Market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Functional Beverages Market segments and regions.
The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries including Food and Beverages, and many more. Trade barriers are further restraining the demand- supply outlook. As government of different regions have already announced total lockdown and temporarily shutdown of industries, the overall production process being adversely affected; thus, hinder the overall Functional Beverages Market globally. This report on ‘Functional Beverages Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The report also Functional Beverages Market trends and forecast to 2028, factoring the impact of Covid -19 Situation.
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The research provides answers to the following key questions:
1. What is the estimated growth rate of the market for the forecast period 2022–2028? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the Functional Beverages Market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Functional Beverages Market?
4. What are the prominent market trends influencing the development of the Functional Beverages Market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the Functional Beverages Market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?
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Functional Beverages Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America
Table of content:
1 Introduction
2 Key Takeaways
3 Functional Beverages Market Landscape
4 Functional Beverages Market – Key Industry Dynamics
5 Functional Beverages Market Analysis- Global
6 Functional Beverages Market Revenue and Forecasts to 2028 – Component
7 Functional Beverages Market Revenue and Forecasts to 2028 -Services Model
8 Functional Beverages Market Revenue and Forecasts to 2028 – Deployment Model
9 Functional Beverages Market Revenue and Forecasts to 2028 – Vertical
10 Functional Beverages Market Revenue and Forecasts to 2028 – Geographical Analysis
11 Industry Landscape
12 Competitive Landscapes
13 Functional Beverages Market, Key Company Profiles
14 Appendix
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