The Asia Pacific Functional Beverages Market would witness market growth of 9.3% CAGR during the forecast period (2021-2027).
Functional beverages are a type of energy and non-alcoholic drink that contain ingredients like amino acids, raw fruits or vegetables, minerals, dietary fibers, probiotics, herbs, and vitamins. Moreover, drinks like enhanced fruit drinks, sports drinks, functional bottles of water, and energy drinks are some kinds of functional drinks that are easily available in the market.
Drink manufacturers are now capable to prepare innovative fortified drinks due to developments in microbiology, food engineering, biochemistry, and medicine, and therefore, it is anticipated that the growth of the functional beverages market would accelerate over the forecast period. Moreover, these drinks have become an essential need of customers, particularly the health-conscious customers. Further, factors such as surging demand for improved beverage goods, boost in production & new product launch, and rising health concerns among consumers are augmenting the growth of the global market. However, food safety issues and legislation would hamper the growth of the functional beverages market in the coming years.
In Asia-Pacific, the functional beverage market is witnessing a significant growth. The market growth in this region is attributed to the increasing demand from the younger generation, the hectic schedule of the rising urban middle-class population, the dearth of nutrients & energy among individuals, and the availability of a wide range of varieties of functional drinks. In addition, the growing demand from Japanese and Chinese markets is further boosting the growth of the regional market. On the other hand, India is increasingly becoming a rapidly growing market across Asia-Pacific.
Moreover, the Chinese market is growing at a rapid pace, due to the launch of new products by domestic & international enterprises. Further, frequent occurrence of arthritis, osteoporosis and cardiovascular disease, rising demand for convenience beverages, and evolving lifestyle of customers are some of the major factors accelerating the sales of functional drinks in this region. Thus, these determinants would open new growth prospects for the market in the coming years.
The China market dominated the Asia Pacific E-commerce Market by Country in 2020, thereby, achieving a market value of $1,332.5 Million by 2027. The Japan market is showcasing a CAGR of 11.5% during (2021 - 2027). Additionally, The India market is poised to grow at a CAGR of 11.5% during (2021 - 2027).
Based on End User, the market is segmented into Fitness Lifestyle Users, Athletes and Others. Based on Type, the market is segmented into Energy Drinks, Sports Drinks, Juices, Dairy-based Beverages and Others. Based on Distribution Channel, the market is segmented into Supermarket/Hypermarket, Specialty Stores, E-commerce and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Functional Beverages Market is Projected to reach USD 140.7 Billion by 2027, at a CAGR of 8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include PepsiCo, Inc., The Coca Cola Company, Nestle S.A., Danone S.A., Meiji Holdings Co., Ltd., Monster Beverage Corporation, Suntory Beverage & Food Limited, National Beverage Corporation, Red Bull GmbH, and Clif Bar & Company.
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