Global Functional Shots Market is valued approximately at USD 417.31 million in 2020 and is anticipated to grow with a healthy growth rate of more than 13.5% over the forecast period 2021-2027. Functional beverages are non-alcoholic drinks that provides some specific health benefits which keeps the body hydrated and provide overall nutrients. Increasing awareness for nutritional drinks, launch of beverages by market players with nutritional benefits and convenient packaging of the products are driving the market of functional shots towards growth. For instance, in 2020, Reeds Inc. launched two varieties of shots, Daily Ginger and Ginger Energize with main ingredients as ginger. Also, in 2019, Bolthouse Farms launched carrot-based functional shots which are designed to efficiently deliver a nutritional boost and address a large number of problems. Furthermore, rise in gym goer’s population is expected to increase the demand of functional shots. However, high cost of functional shots as compared to traditional drinks are expected to hamper the market growth during forecast period.
Asia Pacific, North America, Europe, Latin America, and Rest of the World are the regions taken into consideration in the regional analysis of global Functional Shots. North America is the leading region across the world in terms of market share due to some strategic movements from manufacturers such as product launch, mergers and acquisitions and others. Whereas, Asia Pacific is anticipated to exhibit the highest CAGR over the forecast period 2021-2027, due to increasing millennial population and increasing awareness for energy drinks in the region.
Major market player included in this report are:
LXR Biotech, LLC
Kudu Energy LLC
AriZona Beverages USA
Royal Pacific Foods
Kuli Kuli, Inc.
Living Essentials Marketing, LLC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Distribution Channel:
Hypermarkets & Supermarkets
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Functional Shots Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers