According to a new report published by Allied Market Research, titled, “Functional Beverages Market by Type, Distribution channel and End user: Global Opportunity Analysis and Industry Forecast, 2021-2030,”

The functional beverages market share is expected to reach $200,080.3 million by 2030, registering a CAGR of 5.9% from 2021 to 2030.

Functional beverages are nonalcoholic drinks which provides physical and mental health benefits and promote the state of health and well-being. Raw fruit, vitamins, herbs, vegetables, amino acid, probiotics, milk and some artificial additives are used to formulate the functional beverages.

Furthermore, availability of alternative beverages such as green tea, ginger root tea, coffee, fresh juice, and others limits the growth of the functional beverages market. Moreover, consumption of coffee reduces the effect of caffeine present in energy drinks. Espresso coffee may taste stronger, however, it often contains less caffeine than drip coffee. Moreover, eliminating sugar from coffee or substituting it with stevia or honey prevents overdose of excessive sugar. Therefore, such alternatives hamper the global market growth for energy drinks, which in turn, decrease the growth of the functional beverages market.

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According to the functional beverages market trends, on the basis of type, the sports drinks segment was valued at $ 21,543.1 million in 2020, and is projected to reach $ 41,376.2 million by 2030, growing at a CAGR of 6.5% from 2021 to 2030. The growing inclination of the millennial population towards physical and fitness activities, rising buying power and willingness to pay for healthier alternatives are some of the major factors accelerating the demand for sports drinks. Furthermore, benefits associated with sports drinks for athletes such as minimize the risk of dehydration and electrolytes, maintain the balance of electrolytes in body and replaces sweat are likely to garner the demand for sports drinks, which in turn boost the growth of the functional beverages market

According to distribution channel, the specialty stores segment was valued at $ 24,249.3 million in 2020, and is expected to grow at $ 45,637.6 million by 2030, registering a CAGR of 6.3%. Consumers prefer to analyze and evaluate products before purchase, thereby boosting the retail sales of functional beverages products through specialty store. In addition, consumers getting highly aware and knowledgeable about their purchasing items, they proactively checking the ingredients, processing methods and raw material used so as people majorly prefer to buy products form specialty stores.

The players operating in the functional beverages industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Red Bull, Dupont Nutrition Biosciences ApS, MaxiNutrition, Clif Bar, The Coca-Cola Company, Monster Beverage Corporation, Meiji Co., Ltd, Nestlé S.A., National Beverage Corp., and Pepsico, Inc...

Key Findings Of The Study

The functional beverages market size was valued at $ 110,148.9 million in 2020, and is estimated to reach $ 200,080.3 million by 2030, registering a CAGR of 5.9% from 2021 to 2030.
In 2020, depending on type, the dairy-based beverages segment accounted for $ 7,215.1 million, garnering 6.6% of the global market share.
On the basis of distribution channel, the E-Commerce segment acquired $ 12,555.8 million, exhibiting 11.4% of the global market share.
In 2020, by end user, the athletes segment was valued at $35,319.6 million, accounting for 32.1% of the market share.
U.S. was the most prominent market in North America in 2020, and is projected to reach $ 53,683.3 million by 2030, growing at a CAGR of 4.2% during the forecast period.