Asia Pacific Functional Shots Market By Product (Energy, Immunity, Detox, and Other Products), By Distribution Channel (Convenience Stores, Hypermarkets & Supermarkets, Online and Other Distribution Channels), By Country, Growth Potential, Industry Analysis Report and Forecast, 2021 - 2027
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Get in-depth analysis of the COVID-19 impact on the Asia Pacific Functional Shots Market
Market Report Description
The Asia Pacific Functional Shots Market would witness market growth of 17.4% CAGR during the forecast period (2021-2027). The probiotics food products have been evolved due to the increasing preference of consumers towards health-oriented beverages. Moreover, the appealing tag lines like “ready to drink”, “on the go” and other optimistic factors like attractive packaging provided by beverages, hence boosts the demand for probiotics drinks, such as kombucha. Consumers are increasingly inclined toward functional drinks as compared to other fruit juices and carbonated drinks.
As consumers are becoming more conscious of the adverse health effects of the soft drinks categories, health-conscious consumers often disregard vilified categories such as carbonates and juices, in favor of ‘healthier’ choices, like probiotics, soymilk, and other functional drinks. The major reason behind the increasing demand for healthy hydration drinks is consumer education. The preference towards healthy hydration is due to the increasing awareness toward fermented drinks with natural ingredients and the rising adoption of consuming probiotics.
The growing awareness about health among consumers is the major factor boosting the growth of the global functional shots market. As consumers are constantly switching from carbonated beverages towards concentrated nutritional concoctions, there is a major increment in the demand for functional shots filled with numerous natural ingredients. In addition, a rising number of product development like the introduction of vegan and plant-based functional shots in exclusive flavors and appealing packaging, are becoming the catalysts for the growth of the functional shots market.
The Convenience Stores market dominated the South Korea Functional Shots Market by Distribution Channel in 2020, thereby, achieving a market value of $14.2 Million by 2027, growing at a CAGR of 17.4 % during the forecast period. The Hypermarkets & Supermarkets market is showcasing a CAGR of 17.2% during (2021 - 2027).
Based on Product, the market is segmented into Energy, Immunity, Detox, and Other Products. Based on Distribution Channel, the market is segmented into Convenience Stores, Hypermarkets & Supermarkets, Online and Other Distribution Channels. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include PepsiCo, Inc., AriZona Beverages Company LLC, Kuli Kuli, Inc., Living Essentials Marketing LLC (5-hour ENERGY), EBOOST, Dragononi, Inc. (Hawaiian OLA), Royal Pacific International, LXR Biotech, LLC, Hardcell LLC, and Kudu Energy LLC.
Scope of the Study
Market Segments Covered in the Report:
- Other Products
By Distribution Channel
- Convenience Stores
- Hypermarkets & Supermarkets
- Other Distribution Channels
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- PepsiCo, Inc.
- AriZona Beverages Company LLC
- Kuli Kuli, Inc.
- Living Essentials Marketing LLC (5-hour ENERGY)
- Dragononi, Inc. (Hawaiian OLA)
- Royal Pacific International
- LXR Biotech, LLC
- Hardcell LLC
- Kudu Energy LLC
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