Functional Beverage Market: By Type (Fortified Juice, Energy Drink, Sports Drink, Dairy-Based Beverages, Enhanced Water, Others), By Function (Health and Wellness, Wealth Management), By Distribution Channel (Supermarket/Hypermarket, Departmental Stores, Health Stores, Online Stores, Convenience Stores, Others) and Geography  

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Functional Beverage Market size was valued at USD 130.3 billion in 2022 and is expected to reach a value of USD 226.2 million by 2029, growing at a CAGR of 8.2% from 2023 to 2029. 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.

 

Functional Beverage Market Key Developments:
  • In April 2019, The Coca-Cola Company introduced "Aquarius," a line of delicious, low-calorie beverages. The product comes in two flavors lime with magnesium and lemon with zinc and makes the claim that it contains significant amounts of minerals.

Functional Beverage Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

8.2%

Largest Market

North America

Fastest Growing Market

Asia Pacific
Functional Beverage Market Dynamics

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.

Key Features of the Reports

  • The functional beverage market report provides granular level information about the market size, regional market share, historic market (2018-2022), and forecast (2023-2029)
  • The functional beverage market report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
  • The functional beverage market report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The functional beverage market report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The functional beverage market report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

Functional Beverage Market Segmentation

By Type
  • Fortified Juice,
  • Energy Drink,
  • Sport Drink,
  • Dairy Based Beverages,
  • Enhanced Water,
  • Others
By Function
  • Health and Wellness,
  • Wealth Management
By Distribution Channel
  • Supermarket/Hypermarket,
  • Departmental Stores,
  • Health Stores,
  • Online Stores,
  • Convenience Stores,
  • Others
By Geography
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • North America

Frequently Asked Questions

The functional beverage market is projected to expand at a CAGR of 8.2% during the forecast period.

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, 2018-2022 and Forecast, 2023-2029
4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) 
5.1. Fortified Juice
5.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) 
6.1. Health and Wellness
6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) 
7.1. Supermarket/Hypermarket
7.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) 
8.1. North America
8.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (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, 2018-2022 and Forecast, 2023-2029 (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, 2023-2029
9. North America Functional Beverage Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) 
9.1. Type Analysis 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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, 2023-2029
9.6. North America Functional Beverage Market Dynamics - Trends
10. Europe Functional Beverage Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) 
10.1. Type Analysis 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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, 2023-2029
10.6. Europe Functional Beverage Market Dynamics - Trends
11. Asia-Pacific Functional Beverage Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) 
11.1. Type Analysis 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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, 2023-2029
11.6. Asia-Pacific Functional Beverage Market Dynamics - Trends
12. Latin America Functional Beverage Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) 
12.1. Type Analysis 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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, 2023-2029
12.6. Latin America Functional Beverage Market Dynamics - Trends
13. Middle East and Africa Functional Beverage Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) 
13.1. Type Analysis 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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 2018-2022 and Forecast 2023-2029 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, 2023-2029
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
  • 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
  • Britannia Industries Ltd)

Adjacent Markets