The Functional Drinks Global Market Report 2023, provides comprehensive information on the functional drinks market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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According to The Business Research Company’s esteemed Functional Drinks Global Market Report for 2023, the industry is poised for significant expansion. Forecasts indicate a notable growth trajectory, with the market size anticipated to surge from $43.27 billion in 2022 to an estimated $46.58 billion in 2023, demonstrating a robust compound annual growth rate (CAGR) of 7.6%. However, amidst this promising outlook, the disruptive impact of the Russia-Ukraine conflict casts a shadow over the global economic recovery post-COVID-19, particularly in the immediate future. The ongoing war has precipitated far-reaching consequences, including widespread economic sanctions, sharp hikes in commodity prices, and disruptions in global supply chains, culminating in inflationary pressures across various sectors worldwide. Despite these challenges, the functional drinks market remains resilient, poised for sustained growth. Projections indicate a burgeoning market size of $60.13 billion by 2027, driven by a steadfast CAGR of 6.6%. This trajectory underscores the sector’s adaptability and strategic resilience in navigating the intricate global landscape, highlighting its pivotal role in the evolving realm of functional beverages.
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An unmistakable and influential trend shaping the landscape of the functional drink market revolves around product innovation, with a burgeoning emphasis on advancing consumer experiences. Prominent enterprises within the functional beverage sector have strategically positioned themselves as pioneers in developing innovative solutions that not only cater to evolving consumer preferences but also consolidate their market dominance. A striking embodiment of this trend surfaced in February 2022 when Rockstar Energy Drinks, a subsidiary of the renowned PepsiCo Inc., unveiled Rockstar Unplugged, a groundbreaking energy drink. This particular beverage represents a noteworthy departure from the conventional energy drink paradigm. Rather than delivering an overpowering surge of energy, Rockstar Unplugged distinguishes itself by integrating hemp seed oil and an array of essential B vitamins into its formulation. Containing 80 mg of caffeine, it offers a unique amalgamation of ingredients designed to provide an invigorating energy boost. This innovative calorie- and sugar-free beverage encompasses a carefully crafted blend of caffeine, hemp seed oil, essential B vitamins, as well as refreshing spearmint and soothing lemon balm, culminating in a consumable delight that not only stimulates the senses but also resonates with the demands of contemporary health-conscious consumers. In doing so, Rockstar Energy Drinks has forged a path toward redefining the functional drink landscape, offering a refreshing alternative to traditional energy drinks while catering to the dynamic and discerning tastes of today’s consumers.
The functional drinks market is segmented:
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
Asia-Pacific was the largest region in the functional drinks market in 2022.
The table of contents in TBRC’s functional drinks market report includes:
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Top 5 Major Key Players Are:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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