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The global functional shots market grew at a CAGR of around 10% during 2015-2020. Looking forward, IMARC Group expects the market to exhibit strong growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Functional shots refer to non-alcoholic beverages fortified with specific nutrients to provide various health benefits. They are usually available in a wide variety of flavors and are customized to provide the desired quantity of carbohydrates, electrolytes, minerals, vitamins, dietary fibers and probiotics. Some of the commonly available functional shots include sports and energy drinks, yogurt, enhanced water, fruit juices and ready-to-drink (RTD) teas. They are manufactured using ingredients, such as onion, ginger, black pepper, beetroot, garlic, mushrooms and seaweed. Regular consumption of functional shots can aid in preventing bowel diseases, diarrhea and indigestion and improve the immune system.
The global market is primarily driven by the increasing health consciousness among the masses. Furthermore, the rising preference for ready-to-drink (RTD) beverages is also stimulating the market growth. With the shifting consumer preference from carbonated beverages towards concentrated nutritional concoctions, there is a significant increase in the demand for functional shots fortified with various natural ingredients. Moreover, as the coronavirus disease (COVID-19) continues to spread across the globe, consumers are increasing the intake of functional shots to improve their immunity, metabolism, energy levels and overall health. Additionally, various product innovations, such as the launch of vegan and plant-based functional shots in exotic flavors and attractive packaging, are acting as other growth-inducing factors. In line with this, aggressive promotional activities by the product manufacturers through proliferating social media and e-commerce platforms, is also contributing to the growth of the market. Other factors, including the rising expenditure capacities of the consumers, along with extensive research and development (R&D) activities in the field of food engineering, are anticipated to drive the market further.
IMARC Group provides an analysis of the key trends in each sub-segment of the global functional shots market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on product and distribution channel.
Breakup by Product:
Breakup by Distribution Channel:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being AriZona Beverages USA, EBOOST, Hardcell LLC, Hawaiian OLA, Kuli Kuli Inc., Living Essentials LLC, LXR Biotech LLC, PepsiCo Inc. and Royal Pacific Foods.
|Base Year of the Analysis||2020|
|Segment Coverage||Product, Distribution Channel, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||AriZona Beverages USA, EBOOST, Hardcell LLC, Hawaiian OLA, Kuli Kuli Inc., Living Essentials LLC, LXR Biotech LLC, PepsiCo Inc. and Royal Pacific Foods|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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