Functional Drinks Market, By Type (Sports Drink, Energy Drink, Fortified Juice, Probiotics & Prebiotics Drink, and Others), by Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Pharmacies, Online Channels, and Others), and By Geography (EU, NA, APAC, LATAM, and MEA) – Analysis, Size, Share, Trends, and Forecast from 2021-2027
REPORT HIGHLIGHT
The global Functional Drinks market was valued at USD XX billion in 2019, growing with 12.1% CAGR during the forecast period, 2021-2027.
The functional beverage sector is one of the prominent parts of the global beverage industry which is growing at a rapid pace. Functional drinks are identified as non-alcoholic drinks that are capable of offering health benefits beyond their nutritional quotient and value. These beverages are the potential in inducing health and wellness by positively influencing more than one target function within the mind and body. Vitamins, minerals, herbs, amino acids, fruit extracts, etc are some of the common ingredients found in a wide range of functional beverages.
Market Dynamics
The global functional drinks market is growing at a significant rate and in the forecast period, the market is predicted to grow at an impressive CAGR. The increased consumer inclination towards healthier beverage options and the rise in demand for alternatives for sugary and carbonated beverages are fueling the market growth of functional drinks. Increased awareness about preventive healthcare measures has brought a positive change in the food & beverage choices of consumers which is another reason driving the industry growth.
In both developed and developing economies rising obesity rate, the prevalence of lifestyle diseases such as diabetes, heart diseases, and others have insisted on choosing healthy foods and drinks to stay healthy. According to the stats presented by the Centers for Disease Control (CDC), in 2018, approximately 10.5% ((34.2 million) of the U.S. population had diabetes. Moreover, the adoption of proactive marketing strategies by industry players such as the launch of new products in exotic flavor variants, promotion of products on digital platforms, and partnerships with celebrities and other relevant industry players for product promotions is expected to further aid the market growth.
Type Takeaway
Depending upon the type, the global business is categorized into sports drinks, energy drinks, fortified juice, probiotics & prebiotics drink, and others. Among these, the demand for energy drinks is extremely high among consumers of different age groups. High adoption of energy drinks by athletes, sportspersons, and people who go to the gym is greatly influencing the sales of energy drinks. Moreover, unique marketing strategies adopted by energy drink brands like Monster Energy and Red Bull are proactively aiding the market growth.
The probiotic & prebiotic drink segment is expected to witness the speediest growth in the future coming years. The reason behind this is increased consumer awareness about improving gut health with probiotics. The high cost-efficiency of these products along with their easy availability in different distribution channels is vouching for the segment’s growth.
Distribution Channel Takeaway
In terms of distribution channels, the worldwide industry is categorized into hypermarkets/supermarkets, convenience stores, pharmacies, online channels, and others. The hypermarkets/supermarkets segment is expected to be the leading sales channels for functional drinks as these channels are highly relied on by consumers for the purchase of bottled, packaged, and other grocery and food products.
Convenience store for functional beverage shopping is expected to emerge as a popular choice of consumers especially across western economies. The online platforms are anticipated to be the fastest-growing distribution channel during the forecast period as they offer higher convenience to consumers by delivering the product on their doorsteps. Moreover, a wide range of choices offered on online channels in terms of brands, packaging, size, and portion will lure more customers to this particular sales channel.
Regional Takeaway
Regionally, the overall industry is divided into North America, Middle East and Africa, Asia Pacific, Europe, Latin America. North America is the leading region that is responsible for generating the largest chunk of the revenue share. High health consciousness among consumers of the region, coupled with their high expenditure on health & wellness food & beverage products is aiding the regional market growth. The launch of new products and the expansion of distribution centers by key industry players across the regional market will further fuel the sales of the product. For instance, in 2019, Yakult USA announced the expansion of sales of its two popular products – Yakult regular and Yakult Light (reduced-calorie) in 15 states of the eastern United States.
The Asia Pacific market is projected to grow at the fastest pace in the foreseeable years owing to the rapidly proliferating population rate which will enhance the product demand. High consumer inclination towards gut health and endurance enhancing probiotics fortified functional drinks and juices such as yogurt and functional fruit juice is anticipated to boost the sales of these products within the region.
COVID-19 Impact
Presently the world market is partially defied by the logistical and associated economic impacts of the COVID-19. The pandemic has not only affected the production and sales of various products but has also impacted the global supply chain of food & beverage products. However, the demand for nutraceuticals and functional food & drinks has witnessed a surge in demand from the starting of the pandemic. Numerous large and small manufacturers and retailers have reported an outpouring demand for functional drinks, especially the functional drinks that are designed for promoting overall health and immunity. To address the growing consumer demand for functional drinks companies such as Yakult, Danone, Nestle, Probi AB, and others are working on expanding their product portfolio and distribution channel.
Key Vendor Takeaway
The leading players of the industry include PepsiCo Inc., Danone S.A., Suntory Group, Red Bull GmbH, The Coca-Cola Company, Monster Beverage Corporation, Nestle S.A., Energy69, GNC Holdings, and Old Orchard Brands among others.
The global functional drink industry is moderately consolidated with some prominent leading companies holding a major part of the revenue share. However, with increasing demand for the product, the number of new entrants in the industry is increasing and hence the market is turning into a fragmented one. Leading market players are centering on expanding their business by launching new products and collaborating with other significant regional or international players. For instance, in September 2020, PepsiCo announced the launch of its new product “Driftwell”, a functional drink that has L-theanine within it that claims to promote relaxation among individuals.
The market size and forecast for each segment has been considered as below:
- Historical Year – 2016 to 2018
- Base Year – 2019
- Estimated Year – 2020
- Projected Year – 2021 to 2027
TARGET AUDIENCE
- Traders, Distributors, and Suppliers
- Manufacturers
- Government and Regional Agencies
- Research Organizations
- Consultants
- Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL FUNCTIONAL DRINKS MARKET KEY PLAYERS
- PepsiCo Inc.
- Red Bull GmbH
- The Coca-Cola Company
- Suntory Group
- Danone S.A.
- Monster Beverage Corporation
- Nestle S.A.
- Kraft
- GSK
- Old Orchard Brands
- Energy69
- Pepper Snapple Group
- GNC Holdings
- Glanbia Plc
GLOBAL FUNCTIONAL DRINKS MARKET, BY TYPE
- Sports Drink
- Energy Drink
- Fortified Juice
- Probiotics & Prebiotics Drink
- Others
GLOBAL FUNCTIONAL DRINKS MARKET, BY DISTRIBUTION CHANNEL
- Hypermarkets/Supermarkets
- Convenience Stores
- Pharmacies
- Online Channels
- Others
GLOBAL FUNCTIONAL DRINKS MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- United Kingdom
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- India
- China
- Japan
- Australia
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- The Middle East and Africa
- South Africa
- UAE
- Rest of MEA
TABLE OF CONTENT
1. FUNCTIONAL DRINKS MARKET OVERVIEW
1.1. Study Scope
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Type
2.1.2. Market Snippet by Distribution Channel
2.1.3. Market Snippet by Region
2.2. Competitive Insights
3. FUNCTIONAL DRINKS KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. FUNCTIONAL DRINKS INDUSTRY STUDY
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. FUNCTIONAL DRINKS MARKET: COVID-19 IMPACT ANALYSIS
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. FUNCTIONAL DRINKS MARKET LANDSCAPE
6.1. Market Share Analysis, 2019
6.2. Key Innovators Analysis
6.3. Breakdown Data, by Key Manufacturer
6.3.1. Established Players’ Analysis
6.3.2. Emerging Players’ Analysis
7. FUNCTIONAL DRINKS MARKET – BY TYPE
7.1. Overview
7.1.1. Segment Share Analysis, By Type, 2020 & 2027 (%)
7.2. Sports Drink
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
7.3. Energy Drink
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
7.4. Fortified Juice
7.4.1. Overview
7.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
7.5. Probiotics & Prebiotics Drinks
7.5.1. Overview
7.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
7.6. Others
7.6.1. Overview
7.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8. FUNCTIONAL DRINKS MARKET – BY DISTRIBUTION CHANNEL
8.1. Overview
8.1.1. Segment Share Analysis, By Distribution Channel, 2020 & 2027 (%)
8.2. Hypermarkets/Supermarkets
8.2.1. Overview
8.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.3. Convenience Stores
8.3.1. Overview
8.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.4. Pharmacies
8.4.1. Overview
8.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.5. Online Channels
8.5.1. Overview
8.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.6. Others
8.6.1. Overview
8.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9. FUNCTIONAL DRINKS MARKET– BY GEOGRAPHY
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2020 & 2027 (%)
9.2. North America
9.2.1. Overview
9.2.2. Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.2.4. North America Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.2.5. North America Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.2.6. U.S.
9.2.6.1. Overview
9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.2.6.3. U.S. Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.2.6.4. U.S. Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.2.7. Canada
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
1.1.1.1. Canada Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
1.1.1.2. Canada Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.3. Europe
9.3.1. Overview
9.3.2. Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.3.4. Europe Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.3.5. Europe Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.3.6. Germany
9.3.6.1. Overview
9.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.6.3. Germany Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.3.6.4. Germany Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.3.7. France
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.7.3. France Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.3.7.4. France Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.3.8. United Kingdom
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.8.3. United Kingdom Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.3.8.4. United Kingdom Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.3.9. Spain
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.9.3. Spain Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.3.9.4. Spain Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.3.10. Italy
9.3.10.1. Overview
9.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.10.3. Italy Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.3.10.4. Italy Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.3.10.5.
9.3.11. Rest of Europe
9.3.11.1. Overview
9.3.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.11.3. Rest of the Europe Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.3.11.4. Rest of the Europe Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.4. Asia Pacific (APAC)
9.4.1. Overview
9.4.2. Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.4.4. Asia Pacific Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.4.5. Asia Pacific Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.4.6. India
9.4.6.1. Overview
9.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.6.3. India Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.4.6.4. India Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.4.7. China
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.7.3. China Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.4.7.4. China Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.4.8. Japan
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.8.3. Japan Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.4.8.4. Japan Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.4.9. Australia
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.9.3. Australia Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.4.9.4. Australia Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.4.10. Rest of APAC
9.4.10.1. Overview
9.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.10.3. Rest of APAC Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.4.10.4. Rest of APAC Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.5. Latin America
9.5.1. Overview
9.5.2. Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.5.4. Latin America Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.5.5. Latin America Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.5.6. Brazil
9.5.6.1. Overview
9.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.6.3. Brazil Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.5.6.4. Brazil Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.5.7. Mexico
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.7.3. Mexico Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.5.7.4. Mexico Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.5.8. Argentina
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.8.3. Argentina Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.5.8.4. Argentina Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.5.8.5.
9.5.9. Rest of LATAM
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.9.3. Rest of LATAM Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.5.9.4. Rest of LATAM Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.6.4. Middle East and Africa Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.6.5. Middle East and Africa Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.6.6. South Africa
9.6.6.1. Overview
9.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.6.3. South Africa Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.6.6.4. South Africa Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.6.7. UAE
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.7.3. UAE Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.6.7.4. UAE Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
9.6.8. Rest of ME&A
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.8.3. Rest of ME&A Market Size and Forecast, By Type, 2016 - 2027 (US$ Billion)
9.6.8.4. Rest of ME&A Market Size and Forecast, By Distribution Channel, 2016 - 2027 (US$ Billion)
10. KEY VENDOR ANALYSIS
10.1. Competitive Dashboard
10.2. Company Profiles
10.2.1. PepsiCo Inc.
10.2.1.1. Company Snapshot
10.2.1.2. Financial Performance
10.2.1.3. Type Benchmarking
10.2.1.4. Strategic Initiatives
10.2.2. Red Bull GmbH
10.2.3. The Coca-Cola Company
10.2.4. Suntory Group
10.2.5. Danone S.A.
10.2.6. Monster Beverage Corporation
10.2.7. Nestle S.A.
10.2.8. Kraft
10.2.9. GSK
10.2.10. Old Orchard Brands
10.2.11. Energy69
10.2.12. Dr. Pepper Snapple Group
10.2.13. GNC Holdings
10.2.14. Glanbia Plc
11. 360 DEGREE ANALYSTVIEW
12. APPENDIX
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us
