Over the past few years, the lifestyles of people have changed dramatically. People find it difficult to balance work, home, and recreation due to their hectic lifestyles, resulting in distraction, demotivation, and mental instability. Many people wish to enhance their concentration and mental clarity to handle their daily routine better. Therefore, people focus on improving their cognitive health and prefer products that improve the brain's functioning. Cognitive health is the ability to think, learn, and remember clearly. It is a crucial aspect of brain health. Thus, the growing focus on cognitive health and nootropics has compelled various functional beverage manufacturers to develop products with cognitive benefits. Nootropic beverages consist of ingredients that increase cognitive performance, reduce stress and exhaustion, and enhance mood and productivity. Manufacturers are using ingredients rich in eicosapentaenoic acid (EPA), docosahexaenoic acid (DHA), choline, creatine, and resveratrol to help boost the performance of the brain. Thus, the increasing focus on mental health is driving the functional beverages market growth in South & Central America.
South & Central America Functional Beverages Market Segmentation
The South & Central America functional beverages market is segmented into type, distribution channel, and country. Based on type, the South & Central America 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 South & Central America 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 South & Central America functional beverages market is segmented into Brazil, Argentina, and the Rest of South & Central America. Furthermore, the Rest of South & Central America 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 South & Central America functional beverages market.