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Functional Beverage Market: By Type, By Function, By Distribution Channel and Geography
Functional Beverage Market: By Type, By Function, By Distribution Channel and Geography
Functional Beverage Market size was valued at US$ 130.3 billion in 2023 and is expected to reach a value of US$ 226.2 million by 2030, growing at a CAGR of 8.2% from 2024 to 2030. The global market provides a detailed overview of the market that can be segmented by type, function, and distribution channel. By type, the functional beverage market has been segmented into fortified juice, energy drinks, sports drinks, dairy-based beverages, enhanced water, and others. The energy drink segment is likely to be the largest and fastest-growing segment in terms of type. Based on function, the functional beverage market is segmented into health and wellness and wealth management. Among these, the health and wellness segment is expected to have the fastest-growing market during the forecast period 2023-2029. On the basis of distribution channels, the market is segregated into supermarkets/hypermarkets, departmental stores, health stores, online stores, convenience stores, and others. The supermarket/hypermarket segment held a considerable market share during the forecast period.
Study Period
2024-2030Base Year
2023CAGR
8.2%Largest Market
North AmericaFastest Growing Market
Asia Pacific
Fitness enthusiasts are becoming more prevalent due to expanding consumer interest in healthy lives, the ability to maintain outstanding health despite leading a busy lifestyle and increased demand for novel products like plant-based and lactose-free beverages are some key factors propelling the market growth.
By region, the North American market is expected to witness the highest market share during the forecast period due to its sensible financial foundation, high standard of living, and healthy growth rate. Soft drinks with no calories, no sugar, and few carbohydrates are becoming more and more popular in the region. The Asia Pacific held considerable market growth during an estimated period as a result of nations' rising profits from pricey beverages. The premium beverage in the region sees significant growth due to rising affluent consciousness among consumers and rising per capita income of consumers.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 130.3 billion |
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Market Size in 2030 |
US$ 226.2 million |
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Market CAGR |
8.2% |
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By Type |
|
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By Function |
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By Distribution Channel |
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By Region |
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The global functional beverage market size was valued at US$ 130.3 billion in 2023 and is projected to grow at a CAGR of 8.2% from 2024 to 2030.
The major players in the global functional beverage market are PepsiCo, Red Bull GmbH, Coco-Cola, Monster Beverage Corporation, the naked collective, Nestle S.A, Fonterra Co-Operative Group Ltd, Kraft Heinz Company, Abbott, Dali Foods Group Co. Ltd, Hangzhou Wahaha Group Co. Ltd, Shenzhen Eastroc Beverage Industrial Co. Ltd, Nongfu Spring, Dabur, Amul, Asahi Soft Drinks Co. Ltd, Otsuka Holdings Co. Ltd, Suntory Beverage & Food Ltd, Beverage Industrial Co. Ltd and Britannia Industries Ltd).
Asia Pacific is the fastest-growing region for functional beverage market
| 1. Executive Summary |
| 2. Global Functional Beverage Market Introduction |
| 2.1. Global Functional Beverage Market - Taxonomy |
| 2.2. Global Functional Beverage Market -Definitions |
| 2.2.1. By Type |
| 2.2.2. By Function |
| 2.2.3. By Distribution Channel |
| 2.2.4. By Region |
| 3. Global Functional Beverage Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Functional Beverage Market Dynamic Factors - Impact Analysis |
| 3.6. Global Functional Beverage Market - Competition Landscape |
| 4. Global Functional Beverage Market Analysis, 2019-2023 and Forecast, 2024-2030 |
| 4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Functional Beverage Market, By Type, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 5.1. Fortified Juice |
| 5.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Energy Drink |
| 5.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Sport Drink |
| 5.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Dairy Based Beverages |
| 5.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Enhanced Water |
| 5.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 5.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Others |
| 5.6.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 5.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 6. Global Functional Beverage Market, By Function, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 6.1. Health and Wellness |
| 6.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Wealth Management |
| 6.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7. Global Functional Beverage Market, By Distribution Channel, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 7.1. Supermarket/Hypermarket |
| 7.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Departmental Stores |
| 7.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Health Stores |
| 7.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Online Stores |
| 7.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Convenience Stores |
| 7.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Others |
| 7.6.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 7.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.6.3. Market Opportunity Analysis |
| 8. Global Functional Beverage Market Forecast, By Region, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia-Pacific |
| 8.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Latin America |
| 8.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Middle East and Africa |
| 8.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 8.6. Global Functional Beverage Market - Opportunity Analysis Index, By Type, Distribution Channel, and Region, 2024-2030 |
| 9. North America Functional Beverage Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 9.1. Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Fortified juice |
| 9.1.2. Energy drink |
| 9.1.3. Sport drink |
| 9.1.4. Dairy based beverage |
| 9.1.5. Enhanced water |
| 9.1.6. Others |
| 9.2. Function Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1. Health and wellness |
| 9.2.2. Wealth management |
| 9.3. Distribution Channel Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1. Supermarket/hypermarket |
| 9.3.2. Departmental stores |
| 9.3.3. Health stores |
| 9.3.4. Online stores |
| 9.3.5. Convenience Stores |
| 9.3.6. Others |
| 9.4. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.4.1. USA |
| 9.4.2. Canada |
| 9.5. North America Functional Beverage Market - Opportunity Analysis Index, By Type, By Function, Distribution Channel, and Country, 2024-2030 |
| 9.6. North America Functional Beverage Market Dynamics - Trends |
| 10. Europe Functional Beverage Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 10.1. Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Fortified juice |
| 10.1.2. Energy drink |
| 10.1.3. Sport drink |
| 10.1.4. Dairy based beverage |
| 10.1.5. Enhanced water |
| 10.1.6. Others |
| 10.2. Function Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. Health and wellness |
| 10.2.2. Wealth management |
| 10.3. Distribution Channel Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1. Supermarket/hypermarket |
| 10.3.2. Departmental stores |
| 10.3.3. Health stores |
| 10.3.4. Online stores |
| 10.3.5. Convenience Stores |
| 10.3.6. Others |
| 10.4. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.4.1. Germany |
| 10.4.2. UK |
| 10.4.3. France |
| 10.4.4. Spain |
| 10.4.5. Italy |
| 10.4.6. Russia |
| 10.4.7. Rest of Europe |
| 10.5. Europe Functional Beverage Market - Opportunity Analysis Index, By Type, By Function, Distribution Channel, and Country, 2024-2030 |
| 10.6. Europe Functional Beverage Market Dynamics - Trends |
| 11. Asia-Pacific Functional Beverage Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 11.1. Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Fortified juice |
| 11.1.2. Energy drink |
| 11.1.3. Sport drink |
| 11.1.4. Dairy based beverage |
| 11.1.5. Enhanced water |
| 11.1.6. Others |
| 11.2. Function Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. Health and wellness |
| 11.2.2. Wealth management |
| 11.3. Distribution Channel Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1. Supermarket/hypermarket |
| 11.3.2. Departmental stores |
| 11.3.3. Health stores |
| 11.3.4. Online stores |
| 11.3.5. Convenience Stores |
| 11.3.6. Others |
| 11.4. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.4.1. China |
| 11.4.2. India |
| 11.4.3. Japan |
| 11.4.4. ASEAN |
| 11.4.5. Australia & New Zealand |
| 11.4.6. Rest of Asia-Pacific |
| 11.5. Asia-Pacific Functional Beverage Market - Opportunity Analysis Index, By Type, By Function, Distribution Channel, and Country, 2024-2030 |
| 11.6. Asia-Pacific Functional Beverage Market Dynamics - Trends |
| 12. Latin America Functional Beverage Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 12.1. Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Fortified juice |
| 12.1.2. Energy drink |
| 12.1.3. Sport drink |
| 12.1.4. Dairy based beverage |
| 12.1.5. Enhanced water |
| 12.1.6. Others |
| 12.2. Function Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1. Health and wellness |
| 12.2.2. Wealth management |
| 12.3. Distribution Channel Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1. Supermarket/hypermarket |
| 12.3.2. Departmental stores |
| 12.3.3. Health stores |
| 12.3.4. Online stores |
| 12.3.5. Convenience Stores |
| 12.3.6. Others |
| 12.4. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.4.1. Brazil |
| 12.4.2. Mexico |
| 12.4.3. Argentina |
| 12.4.4. Rest of Latin America |
| 12.5. Latin America Functional Beverage Market - Opportunity Analysis Index, By Type, By Function, Distribution Channel, and Country, 2024-2030 |
| 12.6. Latin America Functional Beverage Market Dynamics - Trends |
| 13. Middle East and Africa Functional Beverage Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
| 13.1. Type Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1. Fortified juice |
| 13.1.2. Energy drink |
| 13.1.3. Sport drink |
| 13.1.4. Dairy based beverage |
| 13.1.5. Enhanced water |
| 13.1.6. Others |
| 13.2. Function Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1. Health and wellness |
| 13.2.2. Wealth management |
| 13.3. Distribution Channel Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1. Supermarket/hypermarket |
| 13.3.2. Departmental stores |
| 13.3.3. Health stores |
| 13.3.4. Online stores |
| 13.3.5. Convenience Stores |
| 13.3.6. Others |
| 13.4. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 13.4.1. Gulf Cooperation Council (GCC) Countries |
| 13.4.2. Israel |
| 13.4.3. South Africa |
| 13.4.4. Rest of MEA |
| 13.5. MEA Functional Beverage Market - Opportunity Analysis Index, By Type, By Function, Distribution Channel, and Country, 2024-2030 |
| 13.6. MEA Functional Beverage Market Dynamics - Trends |
| 14. Competition Landscape |
| 14.1. Strategic Dashboard of Top Market Players |
| 14.2. Company Profiles (Introduction, Financial Analysis, Type Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 14.2.1. PepsiCo |
| 14.2.2. Red Bull GmbH |
| 14.2.3. Coco-Cola |
| 14.2.4. Monster Beverage Corporation |
| 14.2.5. The naked collective |
| 14.2.6. Nestle S.A |
| 14.2.7. Fonterra Co-Operative Group Ltd |
| 14.2.8. Kraft Heinz Company |
| 14.2.9. Abbott |
| 14.2.10. Dali Foods Group Co. Ltd |
| 14.2.11. Hangzhou Wahaha Group Co. Ltd |
| 14.2.12. Shenzhen Eastroc Beverage Industrial Co. Ltd |
| 14.2.13. Nongfu Spring |
| 14.2.14. Dabur |
| 14.2.15. Amul |
| 14.2.16. Asahi Soft Drinks Co. Ltd |
| 14.2.17. Otsuka Holdings Co. Ltd |
| 14.2.18. Suntory Beverage & Food Ltd |
| 14.2.19. Beverage Industrial Co. Ltd |
| 14.2.20. Britannia Industries Ltd |
| 15. Research Methodology |
| 16. Key Assumptions and Acronyms |
Key Market Players
Author
Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of experience in the field of market research. Sravani is adept at creating competitive evaluations, precise market estimations, and market projections, emphasizing the food and beverage and information and communication technology (ICT) industries. Her areas of competence are identifying important players, projecting market trends, and assessing the potential for industry growth. She applies a strong analytical approach to provide precise market estimates and thorough industry analysis, empowering organizations to make data-driven decisions. Sravani's estimating and forecasting abilities are essential for businesses to take advantage of new opportunities and effectively manage dynamic market environments.