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.
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.
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.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.