Market Overview and Growth Factors:
The health benefits of the functional energy drinks coupled with the awareness of the product trends of this sector has led to expansion of this sector. Increase in product development and R & D activities has led to further transformation of the sector both in terms of demand and market size. The market is estimated to continue its upward growth pace owing to fuelling of the trends for the products of this sector. Decreased preference for caffeine infused products has further added to the modification of the sectors landscape.
In keeping with the fitness trend worldwide, the functional energy drinks market is also developing rapidly. Market Research Future, a firm which specializes in market reports related to the Food and Beverage sector among others, recently published a report on this market. The market for functional energy drinks is maturing at an incremental pace with an encouraging CAGR per cent in the forecast period.
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The key players in the market are Tata Global Beverages (India), Red Bull GmBH (Austria), Coca cola Co (U.S.), Pepsi co Inc. (U.S.), Abbott Nutrition Limited (U.S.), Mondelez International, Inc. (U.S.), National Beverage Corporation (U.S.) to name a few.
The industry players in the segment are effectively utilizing their primary resources to initiate long lasting growth changes. A trend of volume-driven growth has been observed in the market of late with the development of different varieties of product types. The sector is undergoing considerable transformation which has accelerated the growth pace of the sector. The best long-term growth opportunities for this sector can be harnessed by ensuring ongoing process improvements and maintaining financial flexibility to invest in the optimal strategies. Conversely, with companies aiming to capture a considerable share of the market segment as early as possible, experimentation with various advantage points is being seriously considered and implemented.
The Functional Energy Drinks Market has been categorized on the basis of product type which comprises of isotonic, hypertonic, hypotonic and others. On the basis of packaging which comprises of bottle, can, tetra pack and others. While, on the basis of distribution channel the segment is divided into store based and non-store based. The store based distribution channel has been further divided into supermarkets & hypermarkets, convenience stores, specialist retailers and others.
Jan 2018 Celsius, a functional fitness drink manufacturer is increasing its focus on the Asian market by expanding its footprint in China this year. Celsius had entered the Chinese market last year through a partnership with Qifeng Food Technology. The brand has commenced local production and initial distribution of its core products across three Tier-1 cities including Beijing, Gaungzhou, and Shenzhen, as well as 30 other cities in 14 provinces.
Oct 2017 PepsiCo, is taking its packaged water brand Aquafina premium in flavours and fortified with nutrients. The company is intersted at introducing more drinks with vitamins, flavours, and possibly even in the herbal space with products such as ayurveda water, in response to rapidly evolving consumer preferences for functional beverages.
Detailed Regional Analysis:
The global functional energy drinks market includes regions such as North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, North America is estimated to retain its dominance throughout the forecast period. This is credited to the growing awareness of the healthy food habits and increasing disposable income of the consumers. Various new flavor and innovative products have been launched by key manufacturers in the U.S. which is estimated to intensify the sales of functional energy drinks market in the forthcoming decade. On the other hand, the European region is estimated to account for a healthy market proportion during the forecast period. On the other hand, the Asia Pacific region is expected to witness a maximum growth in the global functional energy drinks market during the forecast period.