Functional Foods and Beverages Market in North America by Product and Geography - Forecast and Analysis 2022-2026

  • Published: Jan 2022
  • Pages: 120
  • SKU: IRTNTR72010
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The functional foods and beverages market share in North America is expected to increase by USD 32.58 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.29%.

This functional foods and beverages market research report of North America provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers functional foods and beverages market segmentation in North America by product (functional foods and functional beverages) and geography (US, Canada, and Mexico). The functional foods and beverages market report of North America also offers information on several market vendors, including Archer Daniels Midland Co., Danone SA, Monster Beverage Corp., Nestle SA, PepsiCo Inc., Red Bull GmbH, Suntory Holdings Ltd., The Coca-Cola Co., The Kraft Heinz Co., and Yakult Honsha Co. Ltd. among others.

What will the Functional Foods and Beverages Market Size in North America be During the Forecast Period?

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Functional Foods and Beverages Market in North America: Key Drivers and Challenges

The product innovations are notably driving the North America functional foods & beverages market growth, although factors such as product ingredient labeling may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the functional foods and beverages industry in North America. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Functional Foods and Beverages Market Driver in North America

Innovations in flavors and functional ingredients boost the functional foods and beverages market in North America. Manufacturers of functional foods and beverages are introducing new flavors to match the changing consumer preferences. Brands are also focusing on sugar-free and low-calorie formulations as these are in high demand. Advances in technology have enabled the development of products that mask the unpleasant taste of some functional ingredients. Hence, new product development, improved taste, versatility, and marketing and packaging support will increase the demand for functional foods and beverages. Over the past few years, the functional foods and beverages market in North America has also witnessed growth because of better packaging and innovation. Various innovative packaging materials have been introduced. New alternatives to paper packaging include metals, plastics, glass, and biopolymers. Alternative packaging is flexible and takes the shape of the product. Several companies are using innovative packaging designs to market their products. 

Key Functional Foods and Beverages Market Challenge in North America

Skepticism regarding the efficiency of functional foods and beverages can inhibit the market growth. Extensive studies have been conducted to validate the claims made by the manufacturers of these foods and beverages regarding their effectiveness and to check for health risks associated with the consumption of these products. Some studies have shown that many of the ingredients found in popular energy drinks have side effects and contain more than the recommended amount of potentially harmful chemicals. Studies have also stated that mixing functional beverages formulated to boost energy (such as those containing caffeine) with those formulated to lower blood pressure (such as those containing taurine) can cause side effects in the body. Thus, the manufacturers of functional foods and drinks must label all products with warnings about overdose or harmful effects arising due to the mixing of one type of functional drink with another. 

This functional foods and beverages market analysis report of North America also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Functional Foods and Beverages Market Vendors in North America?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Archer Daniels Midland Co.
  • Danone SA
  • Monster Beverage Corp.
  • Nestle SA
  • PepsiCo Inc.
  • Red Bull GmbH
  • Suntory Holdings Ltd.
  • The Coca-Cola Co.
  • The Kraft Heinz Co.
  • Yakult Honsha Co. Ltd.

 

This statistical study of the functional foods and beverages market in North America encompasses successful business strategies deployed by the key vendors. The North American functional foods & beverages market is fragmented and the vendors are distinguishing their products and service offerings through clear and unique value propositions to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The functional foods and beverages market forecast report of North America offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Functional Foods and Beverages Market in North America?

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63% of the market’s growth will originate from the US during the forecast period. However, the market growth rate in the US will be slower than the growth of the market in Canada and Mexico.

The growing awareness about health and fitness will facilitate the functional foods and beverages market growth in the US over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Functional Foods and Beverages Market in North America?

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The functional foods and beverages market share growth in North America by the functional foods segment will be significant during the forecast period. The market is driven by product and ingredient innovations in the functional foods segment. The increasing demand for functional foods among the aging population, health-conscious adults, and children's nutritional requirements drive the global functional foods market in North America. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the North America functional foods & beverages market size and actionable market insights on post COVID-19 impact on each segment.

 

Functional Foods and Beverages Market Scope in North America

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 7.29%

Market growth 2022-2026

$ 32.58 billion

Market structure

Fragmented

YoY growth (%)

5.10

Regional analysis

North America

Performing market contribution

US at 63%

Key consumer countries

US, Canada, and Mexico

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Archer Daniels Midland Co., Danone SA, Monster Beverage Corp., Nestle SA, PepsiCo Inc., Red Bull GmbH, Suntory Holdings 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, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Functional Foods and Beverages Market Report of North America?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive functional foods and beverages market growth in North America during the next five years
  • Precise estimation of the functional foods and beverages market size in North America and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the functional foods and beverages industry across US, Canada, and Mexico
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of North America functional foods & beverages market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2021
    • Market outlook: Forecast for 2021 - 2026

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Functional foods - Market size and forecast 2021-2026
    • Functional beverages - Market size and forecast 2021-2026
    • Market opportunity by Product

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • US - Market size and forecast 2021-2026
      • Canada - Market size and forecast 2021-2026
      • Mexico - Market size and forecast 2021-2026
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Archer Daniels Midland Co.
      • Danone SA
      • Monster Beverage Corp.
      • Nestle SA
      • PepsiCo Inc.
      • Red Bull GmbH
      • Suntory Holdings Ltd.
      • The Coca-Cola Co.
      • The Kraft Heinz Co.
      • Yakult Honsha Co. Ltd.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • 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
      Interested in this report?
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      The functional foods and beverages market growth will increase by $32.58 billion during 2021-2026.
      The functional foods and beverages market is expected to grow at a CAGR of 7.29% during 2021-2026.
      Technavio has segmented the functional foods and beverages market by product (Functional foods and Functional beverages) and geographic (US, Canada, and Mexico).
      Archer Daniels Midland Co., Danone SA, Monster Beverage Corp., Nestle SA, PepsiCo Inc., Red Bull GmbH, Suntory Holdings Ltd., The Coca-Cola Co., The Kraft Heinz Co., Yakult Honsha Co. Ltd. are a few of the key vendors in the functional foods and beverages market.
      US will register the highest growth rate of 63.14% among the other regions. Therefore, the functional foods and beverages market in US is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the functional foods and beverages market growth are:
      • Product innovations
      The functional foods and beverages market vendors should focus on grabbing business opportunities from the functional foods segment as it accounted for the largest market share in the base year.
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