(Food-Beverage-News.Com, September 19, 2017 ) The Global Functional Beverage market has been expected to grow at a CAGR of 9.3% during the forecast period. There has been an increased demand for functional hydration with products like 'beauty beverages' with collagen, cinnamon extracts in soft drinks, to tackle diabetes or Omega-3s for heart health. Demand coming from the millennial generation, rising health care & wellness awareness and busy lifestyles have led to the growing demand for convenience beverages.
Market Segmentation: Energy drinks, sports drinks & nutraceutical drinks are the major segments of the global functional beverages market. The energy drink market was worth USD 50 billion in 2014 and is forecasted to be the fastest growing segment due to the steadily growing demand from health-conscious consumers. The nutraceuticals market is one of the fastest emerging markets due to its minerals and herbs content in the drinks.
Regional Analysis: North America is the top consumer of functional drinks with U.S being the major contributor due to trending of health awareness amongst all age group consumers, athletic regime, work culture, and busy lifestyle. Europe is the largest market for Nutraceuticals drinks due to rising consumer awareness about pro-health food and is estimated to grow at CAGR of 7% during the forecasted period. Asia-Pacific is forecasted as the fastest growing market. In terms of potential, countries such as Australia, China & India look attractive for business growth.
Competitive Landscape: The functional beverage industry is highly concentrated with top ten companies accounting for more than 50% of the market share. The report also includes competitive landscape focusing on players such as Redbull GmBH, Monster Beverage Corporation, Rockstar Inc, Coca-cola Co, and Pepsico Inc which is holding about 45% of the market share.
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