{"id":145643,"date":"2021-10-07T22:40:00","date_gmt":"2021-10-07T22:40:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/?p=2927242"},"modified":"2021-10-07T22:40:00","modified_gmt":"2021-10-07T22:40:00","slug":"global-functional-beverages-market-to-record-an-exponential-cagr-of-9-38-during-the-forecast-period-of-2021-30","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2021\/10\/07\/global-functional-beverages-market-to-record-an-exponential-cagr-of-9-38-during-the-forecast-period-of-2021-30\/","title":{"rendered":"Global Functional Beverages Market to Record An Exponential CAGR of 9.38% During the Forecast Period of 2021-30."},"content":{"rendered":"

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InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the \u201cGlobal Functional Beverages Market\u2013Trends, Industry Competition Analysis, Revenue and Forecast To 2030.\u201d<\/p>\n

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According to the latest research by InsightAce Analytic, the global functional beverages market is valued at US$ 118.7 Billion, and it is expected to reach US$ 265.9 Billion by 2030, with a CAGR of 9.38% during the forecast period 2021-2030. By region, North America dominated the market with a share of 42 % in 2021.<\/p>\n

The functional beverages market is one of the booming markets in the functional food and non-alcoholic beverage industry due to the continuous demand for health and wellness products, as these products help maintain a healthy lifestyle by keeping certain body functions in the normal range. They also keep the body hydrated while maintaining a nutritional balance. These beverages include nutritious drinks such as energy drinks, sports drinks, dairy drinks, fortified juice, enhanced water products, and ready-to-drink tea and coffee. Among the middle-aged and old-aged population, functional beverages with cognitive benefits are on the rise, while sports drinks, green tea, and caffeine products are popular among the young.<\/p>\n

Factors such as the increasing demand for functional beverages, changing lifestyles, the growing number of health-conscious people, and a high preference for safe and organic products are anticipated to boost the market growth during the forecast period. Furthermore, attractive packaging of products, product innovations, and availability of a variety of flavors also surging the demand growth of these products.<\/p>\n

In addition, the increasing partnerships and collaborations among the market players, \u00a0acquisitions of small companies by the major market players, and availability of online retailers have offered new opportunities for the market players.<\/p>\n

The recent Covid-19 pandemic has increased consumers’ interest in products offering immune system support is likely to propel the functional beverages market growth across the globe.<\/p>\n

However, the high price of products, stringent government regulations, and lack of awareness about the availability of functional beverages limit the functional beverages market growth.<\/p>\n

Geographically, the North American region is expected to dominate the market over the forecast period due to the rising health and wellness awareness amongst all age group consumers and continuous product innovations by market players in this region. However, the Asia Pacific region is expected to be the fastest-growing market during the forecast period. The changing lifestyle patterns, economic growth, and increasing health awareness are the major factors driving the market growth in this region.<\/p>\n

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Major key market players operating in the functional beverages market are Archer Daniels Midland Company (US) , Arla foods (Denmark), \u00c6corn Aperitifs (UK), Campbell Soup Co. (US), Clif Bar &amp; Company (US), Danone S.A. (France), DuPont Nutrition &amp; Health, (Denmark), Fonterra Co-operative Group Limited (New Zealand), General Mills, Inc. (US), Glanbia PLC, Kraft Foods Group, Inc. (Ireland), LycoRed Ltd. (Israel), Monster Energy Company (US), Dr. Pepper Snapple Group (US), National Beverage Corp (US), Nestl\u00e9 S.A. (Switzerland), PepsiCo, Inc. (US), Red Bull Gmbh (Austria), Suntory Holdings Limited (Japan), Tata Global Beverages (Bengaluru), The Coca-Cola Company (US), The Kraft Foods Group (US), Thomson &amp; Scott Ltd. (UK), Seedlip (Australia), Domaines Pierre Chavin (France), \u00a0among others.<\/p>\n

Globally, product innovations, mergers, acquisitions, partnerships, and collaboration constitute the main competitive strategies of vendors.<\/p>\n

Some of the recent key developments in the market are as follow:<\/p>\n