Posted 12/12/2023, 4:16:46 PM
Functional Beverage Market Booming, Expected to Reach $277 Billion by 2033 Led by Energy Drinks and Asia Pacific Growth
- Functional beverage market valued at $156 billion in 2022, expected to reach $277 billion by 2033 with 5.4% CAGR
- Energy drinks are a major segment, worth $54.8 billion in 2020 and growing at 8.1% CAGR
- Asia Pacific, especially China, will lead future growth
- Top functional beverage companies in U.S. are Coca-Cola, PepsiCo, Monster Beverage, Keurig Dr Pepper, and Danone
- Smaller companies also competing in space, but face challenges like supply chain visibility with high inflation