The global functional beverages market size is anticipated to reach USD 412.22 million by the end of 2029 owing to the rising inclination towards healthy eating and increasing consumption of nutrient-rich food and beverages. Functional beverages are products of high nutritional value that offers various health benefits. These products form a major part of a balanced diet and are therefore important for the maintenance of good health. A recently published report by Fortune Business Insights titled, “Functional Beverages Market Size, Share & Industry Analysis, By Type (Cereals & Grains, Fats & Oils, Dairy Products, Bakery Products, and Other Functional/Fortified Foods), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail, and Others), and Regional Forecast, 2022-2029,” offers insights into the market and discusses its future growth opportunities. As per this report, the market value stood at USD 216.25 million in 2018 and is expected to exhibit a CAGR of 8.49% between 2019 to 2029.
What are the Objectives of the Report?
The report is based on a qualitative and quantitative analysis of the market and focuses on key factors boosting, repelling, creating opportunities for, and challenging the market. It also discusses the table of segmentation of the market based on factors such as type, distribution channel, and geography. The report also lists the names of players operating in the market and the key strategies adopted by them to gain a competitive edge in the market. It throws light on major industry developments, current trends, and other interesting insights on the market. The report is available for sale on the company website.
Market Drivers
Use of Vacuum Impregnation Technology for Production Purposes will Augment Growth
Doctors state that functional edible products help to reduce the risk of various diseases and offer optimal health to consumers. The rising prevalence of various disease types and the increasing awareness about healthy eating are major functional foods and beverage market growth drivers. This, coupled with the rise in expenditure on research and development of innovative functional products by companies will also bode well for the market.
In contrast to this, the advent of herbal and organic ingredients into functional products may differ in taste due to its medicinal properties which may seem to retract the crowd. The off-flavor or acrid taste of such products may pose a challenge to the market in the coming years. Nevertheless, the use of novel technologies such as vacuum impregnation, edible coating, and encapsulation technology for the production of functional products are likely to create lucrative growth opportunities for the market in the coming years.
Regional Segmentation
Increasing Inclination Towards Healthy Lifestyle will Help Asia Pacific witness Rapid Growth
Geographically, the market was dominated by Asia Pacific with a revenue of USD 82.81 million in 2018 and a CAGR of 9.20%. The growth of this region is attributed to the rise in awareness about health and inclination towards healthy eating. In addition to this, the rising number of chronic diseases such as obesity, diabetes, and cardiac disorders are also propelling the demand for functional products. Moreover, the increasing popularity of organic products is further expected to help this region witness the fastest growth rate in the coming years.
On the other side, North America is likely to rank second in terms of functional foods and beverages market share on account of increasing awareness about proper digestive health. This region is expected to rise at a CAGR of 7.06% in the coming years.
List of Functional Beverages Market Manufacturers include:
· General Mills, Inc.
· Hearthside Food Solutions LLC
· Danone S.A.
· Glanbia plc.
· The Coca-Cola Company
· Arla Foods Amba
· PepsiCo, Inc.
· Nestle S.A.
· Tyson Foods, Inc.
· Celsius Holdings, Inc.
· Other Players
Browse Summary
https://www.fortunebusinessinsights.com/industry-reports/functional-beverages-market-101625
