The functional beverages market consists of sales of functional beverages and related services. Functional beverages are non-alcoholic drinks which contain non-traditional ingredients such as vitamins, minerals, dietary fibers, probiotics, and added fruits. Function drinks include energy drinks, sports drinks, enhanced fruit drinks, and functional bottles water.
The global functional beverages market is expected to decline from $128.66 billion in 2019 to $125.39 billion in 2020 at a compound annual growth rate (CAGR) of -2.54%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $158.28 billion in 2023 at CAGR of 8.08%.
