Global Functional Drinks Market: Overview
The global market for functional drinks is observing a healthy rise in its valuation, thanks to increasing awareness about the benefits of functional drinks on health and wellness, such as bone and heart health enhancement, mental energy improvement, immune system strengthening, and cholesterol management, among consumers. The ever-changing lifestyles of consumers and the increasing expenditure on healthcare are also acting as a growth driver to this market. Going forward, the tremendous rise in the retail sector is likely to support the growth of the market in the near future.
This research report is a thorough analytical study of the performance of the global market for functional drinks in past and over the period from 2016 to 2024. The report especially focuses on the growth boosters, obstacles, challenges, opportunities, and the prominent trends in this market to determine the pace of its progress.
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Global Functional Drinks Market: Trends and Opportunities
The global market for functional drinks is riding high on the significant advancements in the product development practices. The continual development of a number of ingredients, which are capable of covering the unpleasant taste of various omega-3 amino as well as fatty acids, are supporting this market currently and are anticipated to continue doing so over the next few years.
In addition to this, the advent of ingredient formulation technologies, such as micro-encapsulation and size reduction of particles, is likely to create new revenue streams for manufacturers in the coming years, leading to remarkable growth of the worldwide market for functional drinks.
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Global Functional Drinks Market: Regional Outlook
North America, Asia Pacific, Europe, and the Rest of the World are the main geographical categories of the worldwide market for functional drinks. North America, with a massive share, is leading the global market. Researchers anticipate this regional market to retain its dominance in the near future, thanks to the augmenting popularity of functional drinks among all age groups and the rising demand for personalized drinks. North America is expected to be closely followed by Europe over the forthcoming years. The U.K. and Germany are projected to surface as key contributors to the Europe market for functional drinks.
Asia Pacific, amongst others, is anticipated to surface as the most promising regional market for functional drinks in the years to come on account of the improvement in living standard and the rising consciousness regarding health and wellness among consumers in this region.
Companies Mentioned in the Report
At the forefront of the global market for functional drinks are Coca-Cola Enterprises, Red Bull, PepsiCo, Kraft, Nestlé, Tata Tea, GSK, RushNet, Jivita LLC, Old Orchard Brands, Cadbury Schweppes, Taut, and Energy69.The market demonstrates an extremely competitive business landscape as it functions in a highly regulated arena with a number of authorities, such as THE Food and Drug Administration (FDA) and the European Food Safety Authority (EFSA) keeping a close eye on the production of functional drinks.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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