nutritional drink products market REPORT OVERVIEW
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The global nutritional drink products market size was 12340.28 million in 2021 and is expected to reach USD 19221.63 million by 2027, exhibiting a CAGR of 7.67% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, nutritional drink products experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
Nutritional drink products have been created to assist one in achieving broad nutritional objectives including consuming more calories and protein. Some nutrition smoothies (Glucerna) are made to be suitable with medical disorders including diabetes. Vitamins are typically included to nutrition smoothies together with sugar to enhance flavor.
During the projection period, there will be a pressing requirement for energy drinks, which will further expand new market prospects. Additionally, an increase in strategic alliances and the emergence of new markets will function as driving forces and increase favorable prospects for the industry's growth rate.
COVID-19 Impact: Upsurge in the Popularity of Eating Healthy to Advance Market Share
The COVID-19 outbreak has caused a modest but steady increase in the nutritional drink products market share. The disruption of the supply chain and production capacity brought in by the outbreak has hurt the global market. However, all through the pandemic period, the market for nutritional drink products has grown due to the rising popularity of healthy eating and drinking practices as well as growing health concerns.
LATEST TRENDS
"Emergence of Numerous New Flavours to Stimulate Market Development"
One of the markets with the greatest rate of growth is the one for health beverages. Consumers are paying attention to the growing body of research connecting food and beverage use with health. Due to this, consumers are gravitating more and more toward leading a healthy lifestyle, which helps to preserve fitness while lowering the risk of lifestyle disorders.
The demand for nutritional supplements for athletes is fueled by this aspect as well as other factors including increased healthcare costs and rates of urbanization. The growth of health beverages including functional water is driven by new formulations and better marketing strategies. Citrus types predominate in the market analyzed in regards to flavors, but the market has seen the emergence of numerous new flavors.
nutritional drink products market SEGMENTATION
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- By Type
Based on type; the market is divided into liquid, powder
Liquid is the leading part of the type segment.
- By Application
Based on the application; the market is divided into convenience stores, hypermarkets/supermarket, specialty stores, online retailers, pharmacy
Convenience stores is the leading part of the application segment.
DRIVING FACTORS
"Increased Urbanization to Aid Market Expansion "
Additionally, market value growth will be fueled by increased urbanization and rising levels of disposable income. Additionally, the expansion of the worldwide market for processed foods, the introduction of food labels, and the development of economies around the world will temper the rate of expansion of the market for nutritional beverages. The growing awareness of health issues and a hectic lifestyle is a crucial element affecting the market's growth rate.
"Rising Number of Bodybuilders to Foster Industry Progress "
The most common but least unique method for giving consumers a vitamin boost is to add fruit or herbal extract, including lime, strawberries, CBD, as well as aloe vera extract, amongst others. Limited edition along with seasonal variations are also starting to appear, such the gingerbread water from Spendrups, the orange and cinnamon mixture from Ondrasovka, and the coconut and pineapple tastes from Danone.
Additionally, a notable rise in the number of leisure or recreational consumers, professional bodybuilders and athletes, as well as the rising number of young people choosing sports as their career, are all positively impacting the market growth.
RESTRAINING FACTORS
"Incorporation of Synthetic Flavours to Stop Market Evolution "
On the other side, an increasing trend in the usage of synthetic flavors and preservatives is predicted to hinder the industry. The lack of infrastructure and services for food control in developing nations will slow the nutritional drink products market expansion. The COVID-19 outbreak's emergence of unfavorable conditions as well as a lack of knowledge will limit the nutritional drink products market growth expansion and make it more difficult.
nutritional drink products market REGIONAL INSIGHTS
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"Highest Rates of Lactose Intolerance in North America to Support Market Advancement "
In affluent nations that include North America, lactose intolerance is common. For instance, some of the countries with the highest rates of lactose intolerance include U.S., Canada, and Mexico.
Additionally, North America is advancing the plant-based along with lactose-free lifestyle, which is boosting the demand for health beverages or nutritional drink products directly benefitting the market expansion. Due to the change in customer preference from animal to plant-based protein, the vegan diet has grown in popularity. This propensity for eating more vegetables and fruits is linked to a variety of things, including concerns about sustainability, knowledge about health, ethical or religious beliefs, support for the environment and animals, and allergies.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.
The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.
List of Market Players Profiled
- Ajinomoto (Japan)
- Hormel Health (U.S.)
- Nestle (Boost) (China)
- Glanbia (Ireland)
- Simply Good Foods (U.S.)
- Kellogg (U.S.)
- Odwalla (U.S.)
- Abbott Labs (Ensure) (U.S.)
- Danone (France)
- Bolthouse Farms (U.S.)
- Perrigo (U.S.)
REPORT COVERAGE
This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.
In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 12340.28 Million in 2021 |
Market Size Value By |
US$ 19221.63 Million by 2027 |
Growth Rate |
CAGR of 7.67% from 2021 to 2027 |
Forecast Period |
2022-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the nutritional drink products market expected to touch by 2027?
The global nutritional drink products market size is expected to reach USD 19221.63 million by 2027.
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What CAGR is the nutritional drink products market expected to exhibit by 2027?
The nutritional drink products market is expected to exhibit a CAGR of 7.67% by 2027.
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Which are the driving factors of the nutritional drink products market?
The driving factors of the nutritional drink products market are increased urbanization combined with rising number of bodybuilders.
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Which are the key players or most dominating companies functioning in the nutritional drink products market?
Ajinomoto, Hormel Health, Nestle (Boost), Glanbia, Simply Good Foods are the key players functioning in the nutritional drink products market.