Press release
Global Functional Drinks Market Size, Share & Trends Analysis Report by Product, By Distribution Channel, By Region, And Segment Forecasts, 2023-30
Market Overview:The Functional Drinks Are Expected To Grow At A Significant Growth Rate, And The Forecast Period Is 2023- 2030, Considering The Base Year As 2022.
Functional drinks are non-alcoholic drinks made with additives such as vitamins, minerals, herbs, or other bioactive compounds. These drinks are specially designed to provide targeted health benefits or improve certain bodily functions. Unlike regular drinks, functional drinks aim to provide more than just hydration by containing ingredients that promote well-being. Typical ingredients of functional drinks are spices, minerals, nutrients, amino acids, and other raw fruits or vegetables. These ingredients have been selected for their potential health benefits and can contribute to various aspects of overall health and well-being. Some of the common benefits associated with functional drinks include immune system support and more.
Top Key Players Covered in The Functional Drinks Market
The Coca-Cola Company (US), Otsuka Holdings Co., Ltd. (Japan), Suntory Group (Japan), Monster Beverage Corporation (US), PepsiCo (US), Nestlé (Switzerland), Red Bull GmbH (Austria), Kraft Heinz Company (US), Campbell Soup Co. (US), Danone (France), Fonterra Co-operative Group Ltd. (New Zealand), and Other Major Players
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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.
Market Dynamics:
Driver:
Growing consumer interest in healthy lifestyles is a major factor behind the popularity of functional drinks. In today's busy and stressful world, people are increasingly conscious of their health and well-being. They are actively looking for ways to improve their overall health through diet. Functional beverages offer consumers a convenient and accessible way to add beneficial ingredients to their daily routines. Looking to live a healthier life, consumers are drawn to functional beverages that offer targeted health benefits such as immune system support, improved energy levels, or heart health. As a result, demand for functional beverages continues to grow as consumers prioritize their well-being and actively seek out products that meet their health goals.
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Opportunity:
The introduction of many new flavors to the functional beverage market presents an opportunity for both producers and consumers. As the popularity of functional drinks grows, manufacturers are constantly looking for innovative flavor combinations that meet different consumer preferences. This provides an opportunity to offer a wide range of options and attract a larger customer base. In turn, consumers benefit from the availability of new flavors as it adds excitement and variety to their beverage choices. Introducing unique and appealing flavors can attract new consumers who may have previously tried functional beverages.
Segmentation Analysis of Commercial Refrigeration Equipment Market:
Based on the Product Type, Transport refrigeration systems are expected to record the maximum commercial refrigeration equipment market during the forecast period. Increasing international food trade and rising transport of perishable products across borders are growing the demand for these systems. Vegetables and fruits are being increasingly transported through roadways, accelerating the demand for this equipment. Fruits and vegetables, such as lettuce peas, and sweet corn, that have very high respiration rates need colder refrigerators to control the freshness and rise their shelf-life.
By Product Type
• Refrigerator & Freezer
• Transportation Refrigeration
• Refrigerated Display Cases
• Beverage Refrigeration
• Ice Cream Merchandiser
• Refrigerated Vending Machine
By Refrigerant Type
• Fluorocarbons
• Hydrocarbons
• Inorganics
By End Users
• Full-Service Restaurant & Hotels
• Food Processing Industry
• Hospitals
• Retail Pharmacies
• Supermarket/Hypermarket
• Others
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Regional Analysis of Commercial Refrigeration Equipment Market:
The Asia Pacific is anticipated to be the largest commercial refrigeration equipment market of commercial refrigeration equipment during the forecast period. The rising population in the region, developing economic conditions, such as growing GDP & disposable incomes, and an enhancing consumer appliances sector have led to growth in the commercial refrigeration equipment in the region. Additionally, the growth of the commercial refrigeration equipment market in this region is accelerated by growth in the manufacturing sector; a rise in spending on private & public infrastructure development; and rapid urbanization.
• North America (US, Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)
Key Industry Developments in the Functional Drinks Market
In January 2023, Beverage brand Prime released a new energy drink, Prime Energy, containing 200mg of caffeine and zero sugar. The new drinks hold 300mg of electrolytes and contain ten calories, and come in blue raspberry, tropical punch, lemon-lime, orange mango, and strawberry watermelon flavors.
In November 2020, Ocean Spray Cranberries, Inc. introduced B1U, a new functional beverage line made with simple ingredients and bottled in recyclable packaging. B1U is launching a collection of four functional infused waters made without sugar or artificial sweeteners
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