Global Functional Powder Drinks Concentrates Market: Growth Analysis and Forecast by Technavio

Technavio has published a new report on the global functional powder drink concentrates market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--Technavio market research analysts forecast the global functional powder drinks concentrates market to grow at a CAGR of close to 7% during the forecast period, according to their latest report.

The market study covers the present scenario and growth prospects of the global functional powder drinks concentrates market for 2017-2021. The report also lists functional powder drink concentrates with added sugar and sugar-free functional powder drink concentrates as the two major product segments, of which the functional powder drink concentrates with added sugar constituted more than 88% of the market share in 2016.

According to Manjunath Reddy, a lead analyst at Technavio for non-alcoholic beverages research, “The global functional foods and beverages market is witnessing a steady growth, and this trend is expected to continue during the forecast period. The introduction of innovative products and ingredients, coupled with the growing demand for functional foods, is driving the market.”

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Technavio food and beverage analysts highlight the following three market drivers that are contributing to the growth of the global functional powder drinks concentrates market:

  • Introduction of new flavors
  • Health-related benefits of functional drinks
  • Expanding global health-conscious population base

Introduction of new flavors

The introduction of new flavors by players operating in this space is one of the major growth drivers for the global market. Players are coming up with new flavors for their products to cater to the changing consumer preferences. Some of the popular flavors of functional powder drink concentrate in 2016 were vanilla, chocolate, strawberry, and banana. Gatorade Sports Powder, a popular product in the market, is available in flavors such as lemon and orange. The Qwik Stik sports powder brand of Sqwincher is available in three different flavors: orange, strawberry lemonade, and mixed berry. The availability of such diverse flavors attracts consumers and drives sales.

Health-related benefits of functional drinks

The focus is now on disease prevention due to the rising healthcare costs. Marketers of functional powder drink concentrates are focusing on effective labeling and aligning each ingredient against a health benefit, such as probiotic shot for gut health or hydration for sports drinks, to further garner consumer interest.

Functional powder drink concentrates are being marketed as products that have additional ingredients to provide a wide range of health-related benefits. The presence of ingredients like vitamins, minerals, herbs, antioxidants, amino acids, and beneficial bacteria helps improve digestive health, and intestinal flora and gut function; improve mental strength; enhance immune system; improve heart rate, and aid in providing hydration and electrolyte replenishing benefits post exercise.

Expanding global health-conscious population base

In recent years, it has been noted that the number of health-conscious people is increasing at a constant rate. This can be attributed to the increasing occurrence of health issues due to obesity and weak immune systems. This has led to an increase in demand for protein-rich food and beverages such as dietary supplements, functional powder drink concentrates, and ready meals that offer the optimal amount of nutrition.

“Players operating in the functional powder drink concentrates space have an opportunity to market their products using various health claims, thereby targeting the expanding health-conscious population base,” says Manjunath.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio market research analysts forecast the global functional powder drinks concentrates market to grow at a CAGR of close to 7% during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com