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

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	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 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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