Evolve Business Intelligence has published a research report on the Global Wellness Drinks Market, 2023–2033. The global Wellness Drinks market is projected to exhibit a CAGR of around 7.1%during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Wellness Drinks Market: Unilever, Mondelez International, Inc., PepsiCo, Inc., Abbott, The Coca-Cola Company, Danone S.A., General Nutrition Centers Inc., The Hain Celestial Group, Glanbia plc, and Premier Nutrition Company, LLC.
Market Highlights
The global Wellness Drinks Market Size is expected to reach USD 480.2 Billion by 2033. The global Wellness Drinks industry size accounted for USD 169.3 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 10.99% from 2023 to 2033. The wellness drinks market refers to the industry that produces and sells beverages specifically formulated to promote health and well-being. These drinks are often enriched with various vitamins, minerals, antioxidants, and other functional ingredients believed to provide specific health benefits.
The COVID-19 pandemic has had a significant impact on the wellness drinks market. While the demand for wellness drinks initially experienced a surge due to increased focus on health and immunity during the pandemic, the market also faced challenges in terms of supply chain disruptions and changing consumer behavior. During the pandemic, there was a growing consumer interest in products that could boost immunity and overall health. As a result, there was an increased demand for wellness drinks that contained ingredients like vitamin C, zinc, elderberry, and other immune-boosting nutrients. Many consumers turned to wellness drinks as a convenient way to support their health and well-being. However, the market also faced challenges due to supply chain disruptions, including ingredient shortages and logistic issues. The closure of restaurants, cafes, and other foodservice establishments further impacted the market as the demand from these channels decreased significantly.
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Segmental Analysis
The global Wellness Drinks market has been segmented based on Product Type, and Distribution Channel.
Based on the Product type, the Wellness Drinks market is segmented into Fortified Fruit and Vegetables Juices, Nutritional Drinks, Functional Drinks, and Other Product Types. The Nutritional Drinks segment is expected to have the larger market share throughout the forecast period.
Based on Distribution Channel, the global Wellness Drinks market has been divided into Hypermarkets/Supermarkets, Specialty Stores, Convenience Stores, Online Retail Stores, and Other Distribution Channels. The Hypermarkets/Supermarkets segment is anticipated to dominate the market.
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Regional Analysis
The Wellness Drinks market is divided into five regions: North America, Europe, Asia-Pacific, South America, and Middle East, &Africa. Among these regions, North America and Europe are the two major regions driving the growth of the Wellness Drinks market. North America: The North American wellness drinks market has been well-developed and continues to witness steady growth. The United States, in particular, has a mature market with a wide range of wellness drink options and a strong emphasis on health and wellness trends. Europe is another significant market for wellness drinks, driven by the increasing awareness of health-consciousness and demand for functional beverages. Countries like Germany, France, and the United Kingdom have a substantial presence in the market. The Asia-Pacific region is experiencing rapid growth in the wellness drinks market, fueled by the rising disposable incomes, urbanization, and changing lifestyles. Countries like China, Japan, and India are witnessing increased demand for wellness drinks, driven by health-conscious consumers.
