Health has become a top priority for people across the region, leading to a boom in demand for functional products. Consumers are willing to pay more for products that offer nutritional health benefits. There has been a massive demand for functional beverages such as fortified juices and functional water over the past few years. Moreover, the vegan trend is rapidly evolving across the market, which has compelled various manufacturers of functional beverages to develop plant-based alternatives. The majority of consumers across the region prefer beverages that offer nutritional benefits. People are increasingly focusing on cutting dairy products while maintaining the nutritional balance in their diets due to the growing influence of veganism and the increasing lactose-intolerant population. This factor has created strong growth for plant-based milk as they offer an array of functional benefits. Plant-based milk such as almond, coconut, and soy milk are low-calorie milk that offer similar nutritional value as animal milk. Furthermore, according to the International Food Information Council's 2021 Food and Health Survey, over 4 out of 10 buyers believe plant-based alternatives are healthier even when two products have similar ingredients and provide similar nutritional benefits. Therefore, functional beverage manufacturers are developing plant-based beverages to cater to the emerging consumer trend in the region.
Middle East & Africa Functional Beverages Market Segmentation
The Middle East & Africa functional beverages market is segmented into type, distribution channel, and country. Based on type, the Middle East & Africa 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 of the market. Based on distribution channel, the Middle East & Africa functional beverages market is segmented into supermarkets and hypermarkets, online retail, and convenience stores. In 2020, the convenience stores segment held the largest share of the market. Similarly, based on country, the Middle East & Africa IVD contract research organization market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Furthermore, the Rest of Middle East & Africa 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 operating in the Middle East & Africa functional beverages market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 4,200.71 Million |
| Market Size by 2028 | US$ 7,373.42 Million |
| CAGR (2021 - 2028) | 8.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East and Africa Functional Beverages Market is valued at US$ 4,200.71 Million in 2021, it is projected to reach US$ 7,373.42 Million by 2028.
As per our report Middle East and Africa Functional Beverages Market, the market size is valued at US$ 4,200.71 Million in 2021, projecting it to reach US$ 7,373.42 Million by 2028. This translates to a CAGR of approximately 8.4% during the forecast period.
The Middle East and Africa Functional Beverages Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Functional Beverages Market report:
The Middle East and Africa Functional Beverages Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Functional Beverages Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Functional Beverages Market value chain can benefit from the information contained in a comprehensive market report.
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