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Functional Drinks Market by Product, Application, and Geography - Forecast and Analysis 2023-2027

  • Published: Nov 2022
  • Pages: 174
  • SKU: IRTNTR41482
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The functional drinks market is estimated to grow at a CAGR of 8.28% between 2022 and 2027. The size of the market is forecast to increase by USD 57.04 million. The growth of the market depends on serval factors, including new product launches, the health benefits of functional drinks, and the increasing consumption by millennials.

This report extensively covers market segmentation by product (energy beverages, functional fruit and vegetable juices, sports beverages, prebiotic and probiotic drinks, and others), application (health, wellness, and weight loss), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

 What will the Size of the Functional Drinks Market During the Forecast Period?

Functional Drinks Market Size

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Parent Market Analysis

The reports categorize the global functional drinks market as a part of the global soft drinks market. The parent market, the global soft drinks market, covers segments such as carbonated beverages, juices and juice concentrates, bottled water, functional beverages, sports drinks, and others. Technavio calculates the global soft drinks market size based on the combined revenues generated by manufacturers of soft drinks. It excludes revenue generated from sales of soft drinks dispensing equipment. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Functional Drinks Market: Key Drivers, Trends, Challenges, and Customer Landscape

New product launches are notably driving market growth, although factors such as increasing concerns about obesity may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Functional Drinks Market Driver 

New product launches are notably driving the functional drinks market growth. Over recent years, vendors in the global functional drinks market have been focusing on new product launches. They are introducing a variety of flavored products offering unique health benefits. For instance, in 2020, Pepsico launched a new drink called Driftwell, which is meant to help consumers relax and unwind before bed.

Similarly, in 2020, IVUSION Beverage Company LLC launched IVUSION, a hydration drink that hydrates without excess sugar. It is created by medical professionals inspired by IV therapy. Many such developments among vendors will drive the growth of the functional drinks market during the forecast period.

Key Functional Drinks Market Trend

The growing popularity of e-commerce is the primary trend driving the growth of the functional drinks market. The rise in the number of e-commerce portals and the penetration of smartphones has enabled vendors to sell functional drinks through e-commerce channels. Developing countries such as China and India are witnessing a rise in the number of online grocery stores in major cities to provide grocery items on demand, including functional drinks.

This trend is encouraging vendors in the market to expand their presence online. This is helping them save operating and overhead costs when compared with the physical store format. In addition, benefits offered by e-commerce websites, such as easy access to product-related information and enhanced shopping experience, are increasing the online sales of functional drinks. All these factors are driving the growth of the functional drinks market.

Key Functional Drinks Market Challenge

The increasing concerns about obesity are the major challenges impeding the functional drinks market growth. Weight control is a prime concern for consumers when it comes to health and wellness. Consumers require food and beverages that have low calorie and sugar content to control weight. The major sources of added sugars in functional drinks are fruit juices and energy drinks. A can of energy drink, on average, contains about 26.5 grams of added sugar, while large cans have double the amount of added sugar. Energy drinks also contain a significant amount of fats, artificial sweeteners, caffeine, and starch.

Hence, many people avoid consuming functional drinks. A study conducted by the American Academy of Pediatrics (APP) suggested that consumers who train rigorously in hot and humid weather conditions only need a small amount of sports drinks regularly. An inappropriate amount of consumption can cause major health issues such as weight gain, obesity, and others. These factors may impede the growth of the functional drinks market growth during the forecast period.

Key Functional Drinks Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Functional Drinks Market Share by Geography

Global Functional Drinks Market Customer Landscape

 

Who are the Major Functional Drinks Market Vendors?                                     

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product launches, to enhance their presence in the market.

  • Archer Daniels Midland Co. - The company offers functional drinks that include cider, spirits, and drinks such as wine which can be consumed as per the requirements.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • Clif Bar and Co.
  • Danone
  • Glanbia Plc
  • Gujarat Cooperative Milk Marketing Federation
  • Kerry Group Plc
  • Keurig Dr Pepper Inc.
  • Kruger GmbH and Co. KG
  • Lifeway Foods Inc.
  • Monster Beverage Corp.
  • Nestle SA
  • Otsuka Holdings Co. Ltd.
  • PepsiCo Inc.
  • Probi AB
  • Red Bull GmbH
  • Suntory Beverage and Food Ltd.
  • The Coca Cola Co.
  • The Kraft Heinz Co.
  • Yakult Honsha Co. Ltd.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Functional Drinks Market?

Technavio has segmented the functional drinks market based on product as energy beverages, functional fruit and vegetable juices, sports beverages, prebiotic and probiotic drinks, and others. The market share growth by the energy beverages segment will be significant during the forecast period. Energy drinks are primarily consumed by young consumers in the age group of 18 to 34 years. Energy drinks are also used as mixers for alcoholic cocktails as they lower the effect of alcohol, increase drinking capacity, and reduce dizziness. These factors are increasing the demand for energy beverages in the market.

Functional Drinks Market Size

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The energy beverages segment showed a gradual increase in the market share of USD 26.73 million in 2017 and continued to grow by 2021. The market is observing an increased demand for energy drinks in North America. The rising demand for energy drinks in North America has increased their availability through improved channels of distribution, thereby making them more accessible. This has further increased the scope for growth in the segment.

Which are the Key Regions for the Functional Drinks Market?

Functional Drinks Market Share by Geography

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APAC is projected to contribute 40% of the market growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Consumers in the region are giving up carbonated drinks and are exhibiting interest in functional drinks owing to growing health awareness. Changes in lifestyles due to long and demanding working hours, especially among the working class, have also boosted the demand for functional drinks in APAC. In addition, The demand for nutritious and easily digestible food and beverages, such as probiotic drinks, dairy-based drinks, and juices, is increasing among older people. As a result of these factors, the functional drinks market will witness significant growth in APAC during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by product, application, and region.

  • Product Outlook (USD Million, 2017 - 2027)
    • Energy beverages
    • Functional fruit and vegetable juices
    • Sports beverages
    • Prebiotic and probiotic drinks
    • Others
  • Application Outlook (USD Million, 2017 - 2027)
    • Health
    • Wellness
    • Weight loss
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Brazil
      • Argentina

Functional Drinks Market Scope

Report Coverage

Details

Page number

174

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 8.28%

Market growth 2023-2027

USD 57.04 million

Market structure

Fragmented

YoY growth (%)

7.74

Regional analysis

APAC, North America, Europe, South America, and the Middle East and Africa

Performing market contribution

APAC at 40%

Key countries

US, Canada, China, Japan, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Archer Daniels Midland Co., Clif Bar and Co., Danone, Glanbia Plc, Gujarat Cooperative Milk Marketing Federation, Kerry Group Plc, Keurig Dr Pepper Inc., Kruger GmbH and Co. KG, Lifeway Foods Inc., Monster Beverage Corp., Nestle SA, Otsuka Holdings Co. Ltd., PepsiCo Inc., Probi AB, Red Bull GmbH, Suntory Beverage and Food Ltd., The Coca Cola Co., The Kraft Heinz Co., and Yakult Honsha Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Functional Drinks Market Report?

  • CAGR of the market during the forecast period.
  • Detailed information on factors that will drive the growth of the market between 2023 and 2027
  • Precise estimation of the size of the functional drinks market and its contribution to the parent market.
  • Accurate predictions about upcoming trends and changes in consumer behavior.
  • Growth of the market industry across APAC, North America, Europe, South America, and the Middle East and Africa.
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors.
  • Comprehensive analysis of factors that will challenge the growth of functional drinks market vendors.

 

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global functional drinks market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global functional drinks market 2017 - 2021 ($ million)
    • 4.2 Product Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)
    • 4.3 Application Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 30: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
    • 6.2 Comparison by Product
      • Exhibit 32: Chart on Comparison by Product
      • Exhibit 33: Data Table on Comparison by Product
    • 6.3 Energy beverages - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Energy beverages - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Energy beverages - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Energy beverages - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Energy beverages - Year-over-year growth 2022-2027 (%)
    • 6.4 Functional fruit and vegetable juices - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Functional fruit and vegetable juices - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Functional fruit and vegetable juices - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Functional fruit and vegetable juices - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Functional fruit and vegetable juices - Year-over-year growth 2022-2027 (%)
    • 6.5 Sports beverages - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Sports beverages - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Data Table on Sports beverages - Market size and forecast 2022-2027 ($ million)
      • Exhibit 44: Chart on Sports beverages - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Sports beverages - Year-over-year growth 2022-2027 (%)
    • 6.6 Prebiotic and probiotic drinks - Market size and forecast 2022-2027
      • Exhibit 46: Chart on Prebiotic and probiotic drinks - Market size and forecast 2022-2027 ($ million)
      • Exhibit 47: Data Table on Prebiotic and probiotic drinks - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Chart on Prebiotic and probiotic drinks - Year-over-year growth 2022-2027 (%)
      • Exhibit 49: Data Table on Prebiotic and probiotic drinks - Year-over-year growth 2022-2027 (%)
    • 6.7 Others - Market size and forecast 2022-2027
      • Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 6.8 Market opportunity by Product
      • Exhibit 54: Market opportunity by Product ($ million)

    7 Market Segmentation by Application

    • 7.1 Market segments
      • Exhibit 55: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 56: Data Table on Application - Market share 2022-2027 (%)
    • 7.2 Comparison by Application
      • Exhibit 57: Chart on Comparison by Application
      • Exhibit 58: Data Table on Comparison by Application
    • 7.3 Health and wellness - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Health and wellness - Market size and forecast 2022-2027 ($ million)
      • Exhibit 60: Data Table on Health and wellness - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Chart on Health and wellness - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Health and wellness - Year-over-year growth 2022-2027 (%)
    • 7.4 Weight loss - Market size and forecast 2022-2027
      • Exhibit 63: Chart on Weight loss - Market size and forecast 2022-2027 ($ million)
      • Exhibit 64: Data Table on Weight loss - Market size and forecast 2022-2027 ($ million)
      • Exhibit 65: Chart on Weight loss - Year-over-year growth 2022-2027 (%)
      • Exhibit 66: Data Table on Weight loss - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by Application
      • Exhibit 67: Market opportunity by Application ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 69: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 70: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 71: Chart on Geographic comparison
      • Exhibit 72: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 North America - Market size and forecast 2022-2027
      • Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.5 Europe - Market size and forecast 2022-2027
      • Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 China - Market size and forecast 2022-2027
      • Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.10 Japan - Market size and forecast 2022-2027
      • Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.11 Germany - Market size and forecast 2022-2027
      • Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.12 Canada - Market size and forecast 2022-2027
      • Exhibit 109: Chart on Canada - Market size and forecast 2022-2027 ($ million)
      • Exhibit 110: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
      • Exhibit 111: Chart on Canada - Year-over-year growth 2022-2027 (%)
      • Exhibit 112: Data Table on Canada - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 113: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 114: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 116: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 117: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 118: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 119: Matrix on vendor position and classification
            • 12.3 Archer Daniels Midland Co.
              • Exhibit 120: Archer Daniels Midland Co. - Overview
              • Exhibit 121: Archer Daniels Midland Co. - Business segments
              • Exhibit 122: Archer Daniels Midland Co. - Key offerings
              • Exhibit 123: Archer Daniels Midland Co. - Segment focus
            • 12.4 Clif Bar and Co.
              • Exhibit 124: Clif Bar and Co. - Overview
              • Exhibit 125: Clif Bar and Co. - Product / Service
              • Exhibit 126: Clif Bar and Co. - Key offerings
            • 12.5 Danone
              • Exhibit 127: Danone - Overview
              • Exhibit 128: Danone - Business segments
              • Exhibit 129: Danone - Key news
              • Exhibit 130: Danone - Key offerings
              • Exhibit 131: Danone - Segment focus
            • 12.6 Glanbia Plc
              • Exhibit 132: Glanbia Plc - Overview
              • Exhibit 133: Glanbia Plc - Business segments
              • Exhibit 134: Glanbia Plc - Key offerings
              • Exhibit 135: Glanbia Plc - Segment focus
            • 12.7 Gujarat Cooperative Milk Marketing Federation
              • Exhibit 136: Gujarat Cooperative Milk Marketing Federation - Overview
              • Exhibit 137: Gujarat Cooperative Milk Marketing Federation - Product / Service
              • Exhibit 138: Gujarat Cooperative Milk Marketing Federation - Key offerings
            • 12.8 Kerry Group Plc
              • Exhibit 139: Kerry Group Plc - Overview
              • Exhibit 140: Kerry Group Plc - Business segments
              • Exhibit 141: Kerry Group Plc - Key offerings
              • Exhibit 142: Kerry Group Plc - Segment focus
            • 12.9 Keurig Dr Pepper Inc.
              • Exhibit 143: Keurig Dr Pepper Inc. - Overview
              • Exhibit 144: Keurig Dr Pepper Inc. - Business segments
              • Exhibit 145: Keurig Dr Pepper Inc. - Key news
              • Exhibit 146: Keurig Dr Pepper Inc. - Key offerings
              • Exhibit 147: Keurig Dr Pepper Inc. - Segment focus
            • 12.10 Kruger GmbH and Co. KG
              • Exhibit 148: Kruger GmbH and Co. KG - Overview
              • Exhibit 149: Kruger GmbH and Co. KG - Product / Service
              • Exhibit 150: Kruger GmbH and Co. KG - Key offerings
            • 12.11 Lifeway Foods Inc.
              • Exhibit 151: Lifeway Foods Inc. - Overview
              • Exhibit 152: Lifeway Foods Inc. - Product / Service
              • Exhibit 153: Lifeway Foods Inc. - Key offerings
            • 12.12 Monster Beverage Corp.
              • Exhibit 154: Monster Beverage Corp. - Overview
              • Exhibit 155: Monster Beverage Corp. - Business segments
              • Exhibit 156: Monster Beverage Corp. - Key offerings
              • Exhibit 157: Monster Beverage Corp. - Segment focus
            • 12.13 Nestle SA
              • Exhibit 158: Nestle SA - Overview
              • Exhibit 159: Nestle SA - Business segments
              • Exhibit 160: Nestle SA - Key news
              • Exhibit 161: Nestle SA - Key offerings
              • Exhibit 162: Nestle SA - Segment focus
            • 12.14 Otsuka Holdings Co. Ltd.
              • Exhibit 163: Otsuka Holdings Co. Ltd. - Overview
              • Exhibit 164: Otsuka Holdings Co. Ltd. - Business segments
              • Exhibit 165: Otsuka Holdings Co. Ltd. - Key offerings
              • Exhibit 166: Otsuka Holdings Co. Ltd. - Segment focus
            • 12.15 PepsiCo Inc.
              • Exhibit 167: PepsiCo Inc. - Overview
              • Exhibit 168: PepsiCo Inc. - Business segments
              • Exhibit 169: PepsiCo Inc. - Key news
              • Exhibit 170: PepsiCo Inc. - Key offerings
              • Exhibit 171: PepsiCo Inc. - Segment focus
            • 12.16 Probi AB
              • Exhibit 172: Probi AB - Overview
              • Exhibit 173: Probi AB - Business segments
              • Exhibit 174: Probi AB - Key offerings
              • Exhibit 175: Probi AB - Segment focus
            • 12.17 Red Bull GmbH
              • Exhibit 176: Red Bull GmbH - Overview
              • Exhibit 177: Red Bull GmbH - Product / Service
              • Exhibit 178: Red Bull GmbH - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 179: Inclusions checklist
                • Exhibit 180: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 181: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 182: Research methodology
                • Exhibit 183: Validation techniques employed for market sizing
                • Exhibit 184: Information sources
              • 13.5 List of abbreviations
                • Exhibit 185: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Functional Drinks market growth will increase by $57.04 million during 2023-2027.
              The functional drinks market is expected to grow at a CAGR of 8.28% during 2023-2027.
              Technavio has segmented the functional drinks market by product (Energy beverages, Functional fruit and vegetable juices, Sports beverages, Prebiotic and probiotic drinks, and Others) ,application (Health, wellness, Weight loss, Cargo e-bikes, and Others) , and geography (APAC, North America, Europe, South America, and Middle East and Africa).
              Archer Daniels Midland Co., Clif Bar and Co., Danone, Glanbia Plc, Gujarat Cooperative Milk Marketing Federation, Kerry Group Plc, Keurig Dr Pepper Inc., Kruger GmbH and Co. KG, Lifeway Foods Inc., Monster Beverage Corp., Nestle SA, Otsuka Holdings Co. Ltd., PepsiCo Inc., Probi AB, Red Bull GmbH, Suntory Beverage and Food Ltd., The Coca Cola Co., The Kraft Heinz Co., Yakult Honsha Co. Ltd. are a few of the key vendors in the functional drinks market.
              APAC will register the highest growth rate of 40.46% among the other regions. Therefore, the functional drinks market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the functional drinks market growth are:
              • New product launches
              • Growing popularity of e-commerce
              The functional drinks market vendors should focus on grabbing business opportunities from the energy beverages segment as it accounted for the largest market share in the base year.
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