Global functional beverage market is anticipated to grow at a significant CAGR of around 6% during the forecast period. The market growth is attributed to the increasing trend of functional beverages across the globe. Functional beverages come with reduced alcohol, gluten, sugar, and carbohydrates without reducing the original taste of the beverage. Functional beverage’s wide range of flavours let consumers enjoy the drink and then function, often in an athletic capacity. Hence, the adoption of functional beverages among the athletes and sportsperson is considerably high which in turn will fuel the growth of the functional beverages market.
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The function beverages are innovating through their holistic wellness, personalization, functionality and experience hence, the importance of functional beverages is significantly high. Additionally, the functional beverages are available in a range of option including low to no-alcohol options alongside CBD infused beverages. Among which, the CBD infused functional beverages trend is rising considerably in recent years fuelling the functional beverages market. The popularity of CBD functional beverages is owing to the wellness benefits of cannabis-plants provided in the functional beverages without the mind-altering effects. As per the researchers, CBD aids in a wide variety of health conditions which will also raise its adoption in the functional beverages market.
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Moreover, in order to explore the CBD in the functional beverages market, various companies are collaborating with the licenced CBD manufacturers. For instance, Molson Coors Beverage Company partnered with Hexo Corp. to find new opportunities for non-alcohol hemp-derived CBD beverages in the joint venture called Truss CBD USA. In October 2019, the companies together have planned to launch 6 CBD beverages in Canada among which the first was launched in the following December.
The CBD beverage was named Flow Glow and is available in two flavours at launch including Goji and Grapefruit and Raspberry and Lemon. The Flow Glow contains 10mg of CBD in its available bottles. In addition to this, various other companies are also researching in the CBD and THC (Tetrahydrocannabinol) beverages market. For instance, Fluent Beverage Company, a joint venture between Anheuser-Busch InBev and Tilrayproduces premium medical cannabis across the globe. Hence, owing to the increased activity of players in producing innovation beverages, the functional beverage market will show significant growth during the forecast period.
Global Functional Beverages Market- Segmentation
By Type
- Energy Drinks
- Sports Drinks
- Dairy &Dairy Alternative Beverage
- Others
By Distribution Channel
- Retail & Supermarket
- Online Platform
Global Functional Beverages Market- Segment by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East Africa
Company Profiles
- Abbott Laboratories Inc. (Abbott Nutrition)
- AJE Group
- Amway Corp.
- Atlanta Beverage Co
- BA SPORTS NUTRITION, LLC (Bodyarmor)
- Danone S.A.
- DEFIANCE ENTERPRISES LLC (DEFY)
- DMK GROUP
- Fonterra Co-operative Group Ltd.
- Fraser and Neave, Ltd.
- Herbal International of America, Inc.
- Keurig Dr Pepper, Inc.
- Lucozade Ribena Suntory Ltd.
- Monster Energy Co.
- Nestle S.A
- Nuun&Co., Inc.
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