Technavio Market Research

Growing popularity of e-commerce is one of the major trends being witnessed in the global   functional drinks market   2019–2023. Grocery items are emerging as a key category contributing to the overall share of sales through online shopping portals. Online platforms are expected to become one of the key distribution channels for the sale of functional drinks during the forecast period. For instance, in April 2018, Pervida, which produces functional beverages, launched a newly revamped website that offers products. This website provides easy access to the product related information and better online shopping experience. Also, the company’s website has a Pervida geo-locator which enables customers to find the nearest store details. Online grocery shopping is convenient for consumers, as it makes shopping easy, saves time, and offers fast delivery. Hence, it is quickly gaining momentum in the retail sector because of their fast delivery time. Offering their products online ...

Technavio has been monitoring the global functional drinks market since 2016 and the market is poised to grow by USD 155.98 billion during 2019-2023, progressing at a CAGR of almost 11% during the forecast period. The market is driven by new product launches which will boost the growth of the functional drinks market. Over the last few years, vendors have been focusing on new product launches in the functional drinks market and have come up with a variety of innovative flavors, offering unique health benefits. For instance, Nestle’s coffee creamer brand, Coffee Matte expanded into RTD coffee with the launch of natural cold brew and iced coffee products in the US. The product was launched in three flavors, Iced Coffee Caramel, Cold Brew Mocha, and Cold Brew Sweet Corn. Similarly, PepsiCo launched its prebiotic juice line in three flavors that include strawberry banana, pineapple mango, and peach passion fruit. Hence, new product launches will be one of the major drivers in th...