The global functional foods and beverages market was valued at more than USD 447 billion in 2016 and is expected to surpass USD 651 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global functional foods and beverages market to its non-alcoholic beverages portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like General Mills, Kellogg Company, Nestlé, and PepsiCo.
According to Manjunath Reddy, a lead analyst for non-alcoholic beverages research at Technavio, “The vendors in the market are focusing on launching products containing natural ingredients to attract more consumers and increase profitability. The companies are also experimenting with unique ingredients and are introducing diverse assortments of natural functional drinks.
The use of natural and organic ingredients are gaining immense popularity in the food and beverage industry. Various vendors are investing in the procurement of organically sourced materials to produce these drinks in the global market. The organic energy drinks in the market contain organic Brazilian guarana, organic raw Brazilian coffee seed, organic pomegranate juice, Ginkgo Biloba, organic ginseng, organic elderberry, organic raw fair trade sugar, organic lemon juice, and natural spring water.
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Health benefits associated with functional foods and beverages
The increasing awareness of the health benefits associated with functional foods and beverages will fuel the growth in the market. The presence of ingredients like minerals, herbs, vitamins, amino acids, antioxidants, and bacteria in these foods and beverages have a positive impact on the functionality of the human body. These drinks improve the mental strength, enhances the immune system, improves heart rate, hydration, and electrolyte replenishing benefits post exercise, improves digestive health, and offers better intestinal flora and gut function.
Emergence of non-traditional fitness activities
The increasing prominence of non-traditional fitness activities such as yoga, aerobics, and marathons will boost the demand for functional foods and beverages in the market. Several companies in the market are leveraging these trends and are actively marketing their products during these events to attract more consumers and increase their profitability. In 2015, it was estimated that nearly USD 27 billion is spent annually on yoga products in the US.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Functional Foods and Beverages Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Functional Food and Nutraceuticals Market 2016-2020
- Global Functional Drinks Market 2016-2020
- Global Digestive Health Food and Drinks Market 2016-2020
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