Report : Asia Pacific Functional Beverages Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Energy Drinks, Sports Drinks, Fortified Juices, Functional Water, and Others) and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)
Convenience Stores Segment to Dominate Asia-Pacific Functional Beverages Market during 2019–2028
According to a new market research study on “Asia-Pacific Functional Beverages Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Distribution Channel,” is expected to reach US$ 36,272.00 million by 2028 from US$ 20,292.02 million in 2021. The market is estimated to grow at a CAGR of 8.7% from 2021 to 2028. Growing popularity of nootropic beverages is the major factor driving the growth of the Asia-Pacific functional beverages market. However, high costs of functional beverages and stringent labelling norms may hinder the growth of Asia-Pacific functional beverages market. The report provides trends prevailing in the Asia-Pacific functional beverages market along with the drivers and restraints pertaining to the market growth.
The Asia-Pacific functional beverages market is segmented into type, distribution channel, and country. Based on type, the Asia-Pacific functional beverages market is segmented into energy drinks, sports drinks, fortified juices, functional water, and others. In 2020, the energy drinks segment held the largest share Asia-Pacific functional beverages market. Based on distribution channel, the Asia-Pacific functional beverages market is segmented into supermarkets and hypermarkets, online retail, and convenience stores. In 2020, the convenience stores segment held the largest share Asia-Pacific functional beverages market. Similarly, based on country, the Asia-Pacific IVD contract research organization market is segmented into China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific. China contributed a substantial share in 2020.
Danone S.A.; GENERAL MILLS, INC.; KRAFT Foods; Monster Energy Company; Nestlé; PepsiCo; Red Bull; The Coca-Cola Company ; and The Wonderful Company LLC are among the leading companies in the Asia-Pacific functional beverages market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, The Coca-Cola Company collaborates with Tech Partners to create bottle prototypes made from 100% plant-based sources.
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