Functional Beverages Market North America By Country

Market Dynamics

Functional beverages are healthy beverages which provides overall nutrition to the human body and keeps the body hydrated. These are fortified drinks that prevents or helps to address health issues across all age groups. The fortification could range from ingredients such as vitamins, minerals, herbs, and amino acids to additional raw fruits and vegetables. There have been many changes and innovations in the beverage market over the past years as consumers seek new benefits from their beverages. One of the most important benefits sought by consumers is health and wellness. The market for new functional beverages with added ingredients and related health benefits has grown rapidly with positioning strategies linked to energy, digestion, aging, satiety, cognitive ability, hydration, weight management, and fatigue, among others. While the opportunity for developing functional beverages is high, manufacturers often struggle to achieve market success, and the challenges new functional beverage developers face include the technological challenge of developing and marketing new products with new ingredients; differentiating brands in ultra-competitive markets; identifying the most appropriate positioning platforms of convenience; and marketing science and technology to consumers, as well as health, natural, and legal obstacles. The high failure rates suggest an inability to understand consumer preferences and choice motives in relation to the purchase of functional beverages.

Research Methodology

Research ProcessMarket Research Future research is conducted by industry experts who offer insight into industry structure, market segmentations, technology assessment, competitive landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analyzing historical trends and current market positions. Furthermore, the varying trends of segments & categories geographically presented are studied and are estimated based on primary & secondary research.

Primary Research

Extensive primary research was conducted to gain a deeper insight of the market and the industry performance. In this report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.

Secondary Research

Secondary research was mainly used to collect and identify information useful for extensive, technical, market-oriented, and commercial study of the functional beverages Market. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, & developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company web sites, international organization of food & beverages, personal care manufacturers, some paid databases and many others.

Market Size Estimation

Both, top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent submarkets of the overall functional beverages market. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research. This entire procedure included the study of the annual and financial reports of top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market have been covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data has been consolidated and added with detailed inputs and analysis from Wantstats and has been presented in this report. The following figure shows an illustrative representation of the overall market size estimation process employed for this study