Sparkling Functional Beverages Market by Category, Distribution Channel, End-user

Description

List of Tables

[199 Pages Report] The Sparkling Functional Beverages Market size was estimated at USD 64.54 billion in 2023 and expected to reach USD 70.60 billion in 2024, at a CAGR 9.96% to reach USD 125.49 billion by 2030.

Sparkling functional beverages are carbonated drinks that, besides refreshment benefits, offer health-related benefits or functional claims. These may include added vitamins, minerals, electrolytes, fibers, or plant-based compounds, catering to consumers' growing interest in health and wellness. Consumers' increasing health awareness and inclination towards non-alcoholic beverages and consumer readiness to pay a premium price for various functional advantages are driving the market growth. Growing consumption of sports drinks due to increasing sports and exercise also fuels market growth. Strict and non-standard regulatory protocols for approval due to concerns over the safety of the beverage pose significant hurdles for the sparkling functional beverages market. The availability of inexpensive substitutes can lead to market saturation. The introduction of new and exotic flavors, the rising popularity of nootropic beverages, and attractive availability through online channels are expected to create significant growth in the market.

KEY MARKET STATISTICS
Base Year [2023]	USD 64.54 billion
Estimated Year [2024]	USD 70.60 billion
Forecast Year [2030]	USD 125.49 billion
CAGR (%)	9.96%

Regional Insights

The sparkling functional beverages market in the Americas is experiencing substantial growth, driven by the increasing consumer demand for healthier alternatives to traditional soft drinks. Factors such as rising health awareness, the prevalence of lifestyle-related diseases, and the trend of on-the-go consumption are contributing to the expansion of this market. The United States represents major growth, with various brands and flavors catering to diverse consumer preferences. The South American market also shows growth potential, with an increasing middle-class population looking for premium health-oriented beverages. The Asia-Pacific (APAC) region possesses a burgeoning sparkling functional beverages market owing to a growing middle class, rapid urbanization, and increased consumer health consciousness. Countries such as China, Japan, and India are spearheading the market with a demand for beverages that offer wellness benefits alongside convenience.

Moreover, the younger demographic is driving innovation in the space with a preference for unique and exotic flavors and attractive and sustainable packaging solutions. European consumers increasingly lean towards premium segments with a clear focus on health, environmental impact, and clean-label products. There is also a strong demand for organic and locally sourced ingredients. Although smaller in comparison, the Middle Eastern market is anticipated to grow, with a young and expanding population seeking novel and health-focused beverage options. Africa presents an untapped market with low per capita consumption, offering great potential for development, particularly in urban centers where consumer spending power is on the rise.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Sparkling Functional Beverages Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Consumers' increasing health awareness and inclination towards non-alcoholic beverages
- Consumer readiness to pay a premium price for various functional advantages
- Growing consumption for sports drinks due to increasing sports and exercise

Market Restraints
- Strict and non-standard regulatory protocols for approval due to concerns over the safety of the beverage

Market Opportunities
- Introduction of new and exotic flavors
- Rising popularity of nootropic beverages and attractive availability through online channels

Market Challenges
- Availability of inexpensive substitutes

Market Segmentation Analysis
- Category: Growing popularity of flavored sparkling beverage among consumers
- Distribution Channel: Significant preference for online distribution channel due to convenience of home delivery
- End-user: Rising use of low sugar content and clean labels by the athletes

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Sparkling Functional Beverages Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Sparkling Functional Beverages Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Coca-Cola India bottling partner SLMG Beverages opens new facility in Amethi

SLMG Beverages, an allied bottler for Coca-Cola India, has unveiled an advanced manufacturing unit in Trishundi, Amethi, located in the state of Uttar Pradesh. With a substantial investment of roughly INR 700 crore, the state-of-the-art plant boasts six highly efficient production lines that cater to a diverse range of products, including sparkling functional beverages, fruit juices, and packaged water. [Published On: 2023-11-01]

SmartSoda enters the RTD category with launch of new wellness beverage line

SmartSoda unveiled Brilliant Life Drink range to innovate within the wellness beverage space. The new line allows consumers to indulge in SmartSoda's offerings both in the conventional office setting. [Published On: 2023-10-05]

Functional beverage startup closes funding round

Odyssey Wellness secured a USD 6.3 million Series A funding round, raising their total investment to an impressive USD 8.3 million. The inclusion of L-theanine and panax ginseng further sets these beverages apart, available in an enticing array of flavors such as Passion Fruit, Orange & Guava, Blackberry Lemon, Orange Ginger, and Dragon Fruit Lemonade. [Published On: 2023-03-13]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Sparkling Functional Beverages Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Sparkling Functional Beverages Market, highlighting leading vendors and their innovative profiles. These include Coca-Cola Company, Cold Spring Brewing Company, Danone S.A., Fonterra Co-operative Group Limited, GENERAL MILLS, INC., Genki Forest, Glanbia PLC, GLOW Beverages Inc., Gut Drinks, Keurig Dr Pepper, KICR Innovation Ltd, Koios Beverage Corp., Monster Beverage Corporation, MyDrink Beverages, National Beverage Corp., Nestle SA, Otsuka Holdings Co., Ltd., PepsiCo, Inc., Refresco B.V., Resync, LLC, Rishi Tea & Botanicals, Talking Rain, Tipp Distributors, Inc., Unique Beverage Company, LLC, and Zevia PBC.

Market Segmentation & Coverage

This research report categorizes the Sparkling Functional Beverages Market to forecast the revenues and analyze trends in each of the following sub-markets:

Category
- Flavored
- Plain

Distribution Channel
- Offline
  - Hypermarkets/Supermarkets
  - Specialty Stores

Online

End-user
- Athletes
- Fitness Lifestyle Users

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-144C638C8F57

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Consumers' increasing health awareness and inclination towards non-alcoholic beverages
  - 5.1.1.2. Consumer readiness to pay a premium price for various functional advantages
  - 5.1.1.3. Growing consumption for sports drinks due to increasing sports and exercise
- 5.1.2. Restraints
  - 5.1.2.1. Strict and non-standard regulatory protocols for approval due to concerns over the safety of the beverage
- 5.1.3. Opportunities
  - 5.1.3.1. Introduction of new and exotic flavors
  - 5.1.3.2. Rising popularity of nootropic beverages and attractive availability through online channels
- 5.1.4. Challenges
  - 5.1.4.1. Availability of inexpensive substitutes
5.2. Market Segmentation Analysis
- 5.2.1. Category: Growing popularity of flavored sparkling beverage among consumers
- 5.2.2. Distribution Channel: Significant preference for online distribution channel due to convenience of home delivery
- 5.2.3. End-user: Rising use of low sugar content and clean labels by the athletes
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Sparkling Functional Beverages Market, by Category

6.1. Introduction
6.2. Flavored
6.3. Plain

7. Sparkling Functional Beverages Market, by Distribution Channel

7.1. Introduction
7.2. Offline
7.3. Online

8. Sparkling Functional Beverages Market, by End-user

8.1. Introduction
8.2. Athletes
8.3. Fitness Lifestyle Users

9. Americas Sparkling Functional Beverages Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Sparkling Functional Beverages Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Sparkling Functional Beverages Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Coca-Cola India bottling partner SLMG Beverages opens new facility in Amethi
- 12.3.2. SmartSoda enters the RTD category with launch of new wellness beverage line
- 12.3.3. Functional beverage startup closes funding round
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio