Functional Drinks Global Market Report 2024

Description

“Functional Drinks Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on functional drinks market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for functional drinks? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The functional drinks market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Product: Energy Beverages; Functional Fruit and Vegetable Juices; Sports Beverages; Functional Water; Other Products
2) By Distribution Channel: Hypermarkets Or Supermarkets; Specialty Stores; Online; Other Distribution Channels
3) By Application: Health And Wellness; Weight loss
Companies Mentioned: The Coca-Cola Company; PepsiCo Inc.; Red Bull GmbH; Suntory Beverage and Food Ltd.; Danone S.A.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Functional drinks are nonalcoholic beverages that offer health benefits beyond basic nutrition, aiming to positively impact the body or mind to enhance overall health and well-being. These drinks typically contain unique ingredients such as fresh fruit, enzymes, minerals, herbs, protein, amino acids, probiotics, and sometimes artificial additives.

The primary categories of functional drinks include energy beverages, functional fruit and vegetable juices, sports drinks, functional water, and other specialized varieties. Energy beverages often contain elevated levels of caffeine, additional sugars, various chemicals, and legal stimulants such as guarana, taurine, and L-carnitine. These drinks are distributed through multiple channels such as hypermarkets or supermarkets, specialty stores, online platforms, and others. They find applications in various sectors such as health and wellness, as well as weight loss programs.

The functional drinks market research report is one of a series of new reports from The Business Research Company that provides functional drinks market statistics, including functional drinks industry global market size, regional shares, competitors with a functional drinks market share, detailed functional drinks market segments, market trends and opportunities, and any further data you may need to thrive in the functional drinks industry. The functional drinks market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The functional drinks market size has grown strongly in recent years. It will grow from $43.63 billion in 2023 to $46.38 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The historical growth in the functional drinks sector can be attributed to several factors, including significant innovation and product development within the industry, effective marketing and branding strategies employed by companies, heightened consumer awareness regarding health and wellness, evolving lifestyle preferences among consumers, and the expansion and effectiveness of various distribution channels utilized by manufacturers and retailers.

The functional drinks market size is expected to see strong growth in the next few years. It will grow to $57.6 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. Anticipated growth in the forthcoming period is expected to result from several factors, including the development of advanced formulations in functional drinks, addressing global health challenges, an increased emphasis on sustainability and ethical practices within the industry, rising trends in personalization, and a growing focus on mental health considerations . Key trends projected for this period encompass a continued emphasis on health and wellness in functional drink offerings, a preference for natural and clean label ingredients, the utilization of innovative ingredients in drink formulations, a shift towards digital marketing strategies and e-commerce platforms for sales and outreach, as well as the emergence of functional beverages targeting mental well-being to address evolving consumer needs.

The escalating costs of healthcare are anticipated to drive the growth of the functional drink market. Health expenditures represent significant investments aimed at promoting, restoring, and sustaining health. Functional beverages, containing substances believed to offer health benefits beyond basic nutrition, have gained popularity. Some of these beverages include antioxidants, vitamins, and minerals that enhance the immune system, reduce blood pressure, and alleviate inflammation. They present a cost-effective means to address nutritional needs. As of March 2022, the Centers for Medicare & Medicaid Services projected an average annual increase in national health spending of 5.1% between 2021 and 2030, reaching an estimated $6.8 trillion by 2030. Over the same period, Medicare expenditures were anticipated to grow at a 7.2% annual rate, while Medicaid spending was expected to increase at a 5.6% annual rate.

The increasing prevalence of cardiovascular diseases is set to fuel the growth of the functional drinks market. Cardiovascular diseases encompass various conditions affecting the heart and blood vessels, posing a significant health concern. Individuals grappling with cardiovascular issues turn to functional drinks due to their inclusion of nutrients such as omega-3 fatty acids, potassium, and magnesium, known for their heart health benefits. In October 2022, the National Library of Medicine projected that, by 2035, 45.1% of the US population would experience some form of cardiovascular disease, with associated total costs reaching an estimated $1.1 trillion. Additionally, in May 2023, the World Heart Federation reported 20.5 million deaths from cardiovascular diseases in 2021.

A prominent trend in the functional drink market is the emphasis on product innovation. Leading companies in this sector prioritize the development of innovative solutions to bolster their market positions. In February 2022, Rockstar Energy Drinks, a subsidiary of PepsiCo Inc., introduced Rockstar Unplugged, a novel energy drink featuring hemp seed oil and B vitamins as key ingredients, offering a unique alternative to high-energy beverages. With 80 mg of caffeine, Rockstar Unplugged blends a distinctive combination of ingredients, including caffeine, hemp seed oil, B vitamins, spearmint, and lemon balm, creating a calorie- and sugar-free beverage.

Major players in the functional drinks market are concentrating on innovation, exemplified by the introduction of instant energy drinks, to secure a competitive advantage. Instant energy drinks are formulated to offer a swift and transient enhancement in physical and mental alertness by delivering stimulants such as caffeine and sugar rapidly. An illustration of this trend is evident in the actions of Sanjay Ghodawat Group, an Indian conglomerate, which launched RIDER in March 2021. RIDER is a revitalizing energy drink tailored to meet the immediate energy requirements of the body, offering a refreshing experience that invigorates the senses and provides an instant energy boost for an enriched life.

In May 2022, A.G. Barr plc, a UK-based soft drink manufacturer specializing in functional beverages, acquired Boost Drinks Holdings Limited. The initial consideration for the acquisition amounted to $21.88 million (Euro 20 million). Through this strategic acquisition, A.G. Barr plc aims to delve into high-growth and functional beverage categories with innovative offerings. Boost Drinks Holdings Limited, the acquired UK-based company, is a provider of functional drinks, aligning with the overarching strategy of expanding product portfolios to address evolving consumer preferences.

Major companies operating in the functional drinks market report are The Coca-Cola Company, PepsiCo Inc., Red Bull GmbH, Suntory Beverage and Food Ltd., Danone S.A., Nestle SA, Kraft Heinz Co., Monster Beverage Corporation, Otsuka Holdings Co. Ltd., Universal Nutrition Corp., Clif Bar & Company, Dr Pepper Snapple Group Inc., Glanbia Plc, Kerry Group Plc, Probi AB, The Hain Celestial Group, Koios Beverage Corp., Celsius Holdings Inc., Vital Proteins LLC, Fonterra Co-operative Group Limited, The Naked Collective Limited, The Alkaline Water Company Inc., KeHE Distributors LLC, The Honest Company Inc., The a2 Milk Company Limited, The New Age Beverages Corporation, The Simply Good Foods Company, The Good Crisp Company, The Ginger People, The Republic of Tea .

Asia-Pacific was the largest region in the functional drinks market in 2023. The regions covered in the functional drinks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the functional drinks market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The functional drink market consists of sales of coconut water, enhanced waters, functional sodas, and related products. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10974

1. Executive Summary

2. Functional Drinks Market Characteristics

3. Functional Drinks Market Trends And Strategies

4. Functional Drinks Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Functional Drinks Market Size and Growth

5.1. Global Functional Drinks Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Functional Drinks Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Functional Drinks Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Functional Drinks Market Segmentation

6.1. Global Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Energy Beverages
Functional Fruit and Vegetable Juices
Sports Beverages
Functional Water
Other Products
6.2. Global Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hypermarkets Or Supermarkets
Specialty Stores
Online
Other Distribution Channels
6.3. Global Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Health And Wellness
Weight loss

7. Functional Drinks Market Regional And Country Analysis

7.1. Global Functional Drinks Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Functional Drinks Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Functional Drinks Market

8.1. Asia-Pacific Functional Drinks Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Functional Drinks Market

9.1. China Functional Drinks Market Overview
9.2. China Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Functional Drinks Market

10.1. India Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Functional Drinks Market

11.1. Japan Functional Drinks Market Overview
11.2. Japan Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Functional Drinks Market

12.1. Australia Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Functional Drinks Market

13.1. Indonesia Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Functional Drinks Market

14.1. South Korea Functional Drinks Market Overview
14.2. South Korea Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Functional Drinks Market

15.1. Western Europe Functional Drinks Market Overview
15.2. Western Europe Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Functional Drinks Market

16.1. UK Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Functional Drinks Market

17.1. Germany Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Functional Drinks Market

18.1. France Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Functional Drinks Market

19.1. Italy Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Functional Drinks Market

20.1. Spain Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Functional Drinks Market

21.1. Eastern Europe Functional Drinks Market Overview
21.2. Eastern Europe Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Functional Drinks Market

22.1. Russia Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Functional Drinks Market

23.1. North America Functional Drinks Market Overview
23.2. North America Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Functional Drinks Market

24.1. USA Functional Drinks Market Overview
24.2. USA Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Functional Drinks Market

25.1. Canada Functional Drinks Market Overview
25.2. Canada Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Functional Drinks Market

26.1. South America Functional Drinks Market Overview
26.2. South America Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Functional Drinks Market

27.1. Brazil Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Functional Drinks Market

28.1. Middle East Functional Drinks Market Overview
28.2. Middle East Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Functional Drinks Market

29.1. Africa Functional Drinks Market Overview
29.2. Africa Functional Drinks Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Functional Drinks Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Functional Drinks Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Functional Drinks Market Competitive Landscape And Company Profiles

30.1. Functional Drinks Market Competitive Landscape
30.2. Functional Drinks Market Company Profiles
- 30.2.1. The Coca-Cola Company
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. PepsiCo Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Red Bull GmbH
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Suntory Beverage and Food Ltd.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Danone S.A.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Functional Drinks Market Competitive Benchmarking

32. Global Functional Drinks Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Functional Drinks Market

34. Functional Drinks Market Future Outlook and Potential Analysis

34.1 Functional Drinks Market In 2028 - Countries Offering Most New Opportunities
34.2 Functional Drinks Market In 2028 - Segments Offering Most New Opportunities
34.3 Functional Drinks Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer