Functional beverages are ready-to-drink beverages and are non-alcoholic in nature that incorporates non-conventional ingredients. The absolute most normal ingredients found in functional beverages incorporate spices, minerals, nutrients, amino acids, and a few extra crude fruits or vegetables. Functional beverages offer unequivocal health-related benefits that go past broad everyday dietary admission. It offers an assortment of health benefits with the impact of added ingredients, for example, safe framework fortifying, further developed cholesterol the executives, mental energy, further developed heart health, working on bone health, and other benefit-related with vision and eye health.
Rising Demand for Plant-based Functional Beverages Market
The veganism trends are rapidly rising in North America, Europe, and Asia Pacific markets. According to the Harris Poll conducted on behalf of the Vegetarian Resource Group, as of March 2019, 2% of American citizens considered themselves as vegan. Veganism was one of the top 5 searched terms on Google in 2019 in the UK and across the globe, according to Google Trends. Plant-based beverages have gained huge traction owing to shifting consumer preferences towards sustainable products, growing affiliation for animals, and rising awareness of animal protection. Moreover, a wide range of plant-based products are available across multiple retail channels including supermarket chains such as Walmart, Kroger, Lidl, and online retail platforms, among others. Increasing health concerns have compelled consumers to shift their preference to vegan foods and beverages. The vegan population is significantly increasing owing to the rising prevalence of lactose intolerance and various kinds of food allergies.
A few players operating in the functional beverages market are PepsiCo; The Coca-Cola Company; Nestlé; KRAFT Foods; GENERAL MILLS, INC.; Danone S.A.; Monster Energy Company; Red Bull; CAMPBELL SOUP COMPANY; The Wonderful Company LLC. among few others.
