LONDON--(BUSINESS WIRE)--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.
Browse Related Reports:
- Global Naturally Healthy Foods Market 2016-2020
- Global Dietary Fiber Market 2016-2020
- Global Flavored Powder Drinks Market 2017-2021
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