- High potential growth demonstrated by the market is expected to attract several new entrants during the anticipated period.
- Improving economic conditions worldwide are helping to drive the market.
- Evidently, consumers’ inclination or desire to variety is the key factor driving the market growth predominantly.
Global Functional Beverages Market are enriched with the minerals, herbs, vitamins, amino acids, &/or additional fruit or vegetables to promote good health. Recently, these beverages are creating quite a buzz in the market, escalating its market to booming heights on the global platform. People nowadays, are increasingly becoming choosy & they like to try different tastes such as flavored drinks; and if that drink can provide health benefits then nothing like it!
Evidently, consumers’ inclination or desire to variety is the key factor driving the market growth predominantly. In addition to the changing consumer preferences and increasing popularity of exotic drinks, another key factor that propels the market growth is, growing health-centric (health conscious) populace.
Moreover, factors contributing to the market growth include millennial generation, growing industrialization & urbanization along with the improving economic conditions worldwide. Efforts put in, to choose attractive packaging solutions for these beverages are offerings dividends. For instance; to convey the perceived value of a product as a whole such as brand recognition or brand association, to the consumer, a packaging solution is picked after a careful consideration of excellent printability of nutrient retentive value description, glossy & appealing appearance of the packaging, etc.
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Major Key Players
Global Functional Beverages Market appears to be highly competitive owing to the presence of numerous well-established vendors. High potential growth demonstrated by the market is expected to attract several new entrants during the anticipated period. Resultantly, intensifying the competition further.
Owing to the low product differentiation and availability of a wide range of similar products; vendors are increasingly focusing on reducing the brand recall of their products among consumers through effective marketing communications. Fuze Beverage (US), PepsiCo (US), Red Bull GmbH (Austria), Coca-Cola (US), Kraft Foods (US), Altria Group (US), General Mills (US), Ocean Spray (US), and Campbell Soup Company (US) are some of the prominent players profiled in MRFR Analysis and are at the forefront of the competition in the Global Functional Beverages Market.
March 26, 2018 – Glanbia plc. (Ireland), a global nutrition group launched its new functional beverage – or actually Whole Grain Stamps designed for inclusion in beverages. BevGrad Oats GF and BevGrad Quinoa are those products introduced.
April 02, 2018 – Gratitude Health, Inc. (US), largest global manufacturer of functional RTD beverages (Ready to drink) and other functional-drink lines announced a partnership with Vapir Enterprises, Inc. The collaboration is expected to facilitate Gratitude Health to become a publicly traded company.