Latest News- Functional Beverage Market in Europe: Energy drinks is expected to lead the Product segment during 2024-2028
The Functional Beverage Market in Europe is being driven by Health benefits of functional beverages
The Functional Beverage Market in Europe is expected to grow at a CAGR of 7.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 13.7 billion. The functional beverage market in Europe has experienced substantial growth due to the proliferation of e-commerce distribution channels. This expansion has been driven by the convenience and accessibility offered by e-commerce platforms, which provide a vast selection of functional drink brands. The increasing number of e-commerce portals and the widespread use of smartphones have enabled vendors to effectively sell functional drinks online. For instance, Pervida, a functional drink producer, launched a revamped website in April 2018, enhancing the online shopping experience and providing easy access to product information. Functional drinks' bulk availability and lower shipping costs per unit make them attractive e-commerce purchases, further boosting sales in this sector.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (Energy drinks, Sports drinks, Fortified juice, Others) Geography (Europe).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Functional Beverage Market in Europe Research Report
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The European functional beverage market is experiencing significant growth, driven by the increasing demand for health and wellness products. Protein drinks and energy drinks are popular choices among fitness enthusiasts, while marketing campaigns highlight the benefits of digestive health and active ingredients. Smoothie flavors, vitamin C, and dairy alternatives are also in high demand. Probiotic drinks, plant-based beverages, and organic foods are gaining popularity due to the rise of veganism and chronic diseases. Convenience beverages, such as lactose-free products and plant-based alternatives from brands like Vital Proteins, offer health benefits through amino acids, vitamins, minerals, and immunity-boosting properties. E-commerce and grocery stores are key sales channels for these health-enhancing products, with new flavors and innovations continually emerging in the healthcare sector.
The European functional beverage market is a significant segment of the global soft drinks and non-alcoholic beverages industry, encompassing protein drinks, energy drinks, and beverages targeted at fitness enthusiasts. Marketing campaigns emphasizing health and wellness, active ingredients, and digestive health drive market growth. New product launches, featuring smoothie flavors, vitamin C, dairy alternatives, and probiotic drinks catering to veganism and plant-based milk trends, further fuel market expansion. These innovations cater to diverse consumer preferences and contribute to the industry's ongoing development.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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