The Latin America, Middle East and Africa Functional Beverages Market would witness market growth of 8.9% CAGR during the forecast period (2021-2027).
Health-oriented beverages such as probiotic food products are considered as necessary products due to which, customers are increasingly moving towards the consumption of such products. Additionally, the demand for probiotic drinks like kombucha is driven by the strategies used to maximize the sale like the addition of attractive tag lines that include ready-to-drink & on the go beverages. These factors are accountable for the changing preference of customers from fruit juices & carbonated drinks towards functional drinks.
Moreover, with the growing awareness among customers about the ill-effects of soft drinks, the customers are rapidly reducing the consumption of soft drinks such as juices and carbonates and are inclining towards healthy products like probiotics, soymilk, and other functional drinks. Further, customer education is playing a vital role in the rapidly growing demand for healthy hydration drinks. The fame gained by the trend of healthy hydration is due to the rising acceptance of probiotics drinks by customers and swiftly increasing awareness about fermented drinks that contain natural ingredients. Thus, these factors are anticipated to boost the growth of the functional beverages market in the forthcoming years.
The LAMEA functional beverages market is anticipated to acquire strong growth in the forthcoming years. These beverages improve digestive health due to which, this region is witnessing considerable growth in its demand. In addition, customers are gradually inclining towards probiotics products as the awareness related to its benefits is increasing among the customers across this region. Probiotics drinks are one of the functional beverages. Additionally, the factors such as improved gut health, a rising number of health-conscious customers, especially millennials, and great availability of ready-to-drink products are directly associated with the growth of the regional market.
Moreover, functional drinks like probiotic drinks are among the essential drinks that help in maintaining a healthy balance of intestinal bacteria and provide several health benefits such as proper immune function, digestive health, and weight loss. Further, higher consumption of these drinks stimulates mental health and helps in maintaining the better light. Therefore, it is projected that these aspects will propel the growth of the functional beverages market in the upcoming years.
The Fitness Lifestyle Users market dominated the South Africa Functional Beverages Market by End User in 2020, thereby, achieving a market value of $882.4 Million by 2027. The Athletes market is estimated to grow at a CAGR of 10.1% during (2021 - 2027). Additionally, The Others market is expected to witness highest CAGR of 9.9% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Functional Beverages Market is Predict to reach $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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