Functional Shots Market Size, Share and Report 2021-2026

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Functional Shots Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global functional shots market grew at a CAGR of around 10% during 2015-2020. 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. Looking forward, IMARC Group expects the global functional shots market to exhibit strong growth during the next five years.

Key Market Segmentation:

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 region, product and distribution channel.

Breakup by Product:

Energy
Immunity
Detox
Others

Breakup by Distribution Channel:

Hypermarkets and Supermarkets
Convenience Stores
Online Stores
Others

Breakup by Region:

North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

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.

Key Questions Answered in This Report:

How has the global functional shots market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global functional shots market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global functional shots market and who are the key players?
What is the degree of competition in the industry?