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Increasing Inclination Towards Sports to Drive Functional Energy Drink MarketThe global functional energy drink market is likely to witness impressive ascension during the forecast period. The consumption of functional energy drinks is mainly driven by a budding inclination towards non-alcoholic beverages from consumers, especially the younger generation. Further, consumers have started preferring functional drinks over fruit juices and carbonated drinks. This is one of the chief factors leading exponential growth to the functional energy drink market. Furthermore, the global functional energy drink market is likely to witness fast accentuation owing to the rising number of people opting for a healthier lifestyle and engaging in a higher number of sports activities that require a desired level of energy throughout.
Manufacturers are expected to invest heartily in the process of research and development to support faster innovation. Such product differentiation and innovation is expected to aid market vendors in not only retaining their market share and maintaining their market stance, but also in capturing new markets and expediting such stance in the market during the forecast period. A rise in the disposable income of consumers has led many to afford heavily priced functional energy drinks. This is also proving as an added advantage to the revenue upscaling of the global market during the forecast period.
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Functional beverages are also consumed to provide instant refreshment and a mild stimulation that benefits the maintenance of health and energy throughout the day. Such stimulation from functional energy drinks has been known to have no detriments on the health of the consumer, unlike beverages like tea, and coffee. Hence, this has led to consumers becoming more carefree with their consumption of functional energy drinks as they don’t have to worry about the side effects of such consumption. Hence, this factor has proved to be one of the most vital drivers for the functional energy drink market.
The key manufacturers covered in this report:
Tata Global Beverages
Red Bull GmBH
Pepsi Co Inc.
Abbott Nutrition Limited
Coca Cola
Mondelez International, Inc.
National Beverage Corporation
Market Segmentation
The global functional energy drink market is studied for different types of segments that are based on various aspects to gain a deeper understanding of the market landscape. Such segmentation is carried out by type, and distribution channel. Based on type, the global functional energy drink market is segmented into isotonic, hypotonic, and hypertonic. Based on distribution channel, the global functional energy drink market is segmented into store-based and non-store-based.
Detailed Regional Analysis
The global functional energy drink market is studied for the regional segments of the Americas, the Middle East and Africa (MEA), Europe, and Asia Pacific (APAC). The Americas is further segmented into North America and Latin America. Among these segments, the North American functional energy drink market is expected to witness significant growth rate over the estimate period, as compared to other regions. This can be owed to the higher penetration of elevated standard of living and upscaling disposable income. Further, a growing culture towards functional beverages among the younger generation is another factor fostering the regional functional energy drink market.
Industry Update
October 2019: Coca-Cola announced their plans to debut their very first energy drink in the US in January 2020. Although, it launched this year in different countries including Spain and Hungary, gaining great response.
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