Worldwide Functional Shots Industry to 2027 - As a Result of COVID-19 Consumers are Looking for Products to Boost Immunity - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jun 25, 2021--
The “Global Functional Shots Market By Product (Energy, Immunity, Detox, and Other Products), By Distribution Channel (Convenience Stores, Hypermarkets & Supermarkets, Online and Other Distribution Channels), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027” report has been added to ResearchAndMarkets.com’s offering.
The Global Functional Shots Market size is expected to reach $1.4 billion by 2027, rising at a market growth of 16% CAGR during the forecast period.
- PepsiCo, Inc.
- AriZona Beverages Company LLC
- Kuli Kuli, Inc.
- Living Essentials Marketing LLC (5-hour ENERGY)
- Dragononi, Inc. (Hawaiian OLA)
- Royal Pacific International
- LXR Biotech, LLC
- Hardcell LLC
- Kudu Energy LLC
Functional shots are considered as non-alcoholic beverages. They are generally available in a broad array of varieties and are modified to give the intended quantity of carbohydrates, electrolytes, minerals, vitamins, dietary fibers, and probiotics. Sports and energy drinks, enhanced water, yogurt, fruit juice, and ready-to-drink (RTD) teas are some of the broadly available functional shots. Various ingredients like onion, beetroot, ginger, mushrooms, black pepper, garlic, and algae are used in the preparation of functional shots.
Many ingredients are used to prepare functional shots including onion, spirulina, ginger, reishi mushrooms, black pepper, horseradish, garlic, habanero pepper, moringa, and seaweed. The constant development in microbiology, nutrition, food engineering, and biochemistry has motivated the makers to develop unique beverages like functional shots. Boosting immunity and energy level are the prime advantages of functional shots. For health-conscious consumers, functional shots are gradually becoming an important part of their diet.
The current outbreak of the COVID-19 pandemic is once in a century kind of pandemic. It is also something that is expected to have a deep impact on concerns regarding health, eating, and drinking habits. As functional shots help in increasing immunity, the COVID-19 pandemic is likely to fuel the demand & growth of functional shots in the years to come because consumers are constantly searching for products to reduce the chances of illness. The COVID-19 pandemic has brought the transformation in the functional shots market. As a result of this pandemic, consumers are constantly looking for products that can boost immunity. Therefore, this aspect is creating new growth avenues for the global functional shots market. These functional shots provide various benefits as they are highly convenient and can be stored easily. Some functional shots can be stored in cold places, while there are other functional shots that sustain long even at room temperature. This factor along with the convenient costs of functional shots is expected to fuel the growth of the functional shots market.
Based on Product, the market is segmented into Energy, Immunity, Detox, and Other Products. In 2020, the global functional shots market was dominated by the energy shots segment as it obtained the maximum revenue share. A high number of product launches resulting in a broad penetration among consumers are responsible for this growth.
Distribution Channel Outlook
Based on Distribution Channel, the market is segmented into Convenience Stores, Hypermarkets & Supermarkets, Online and Other Distribution Channels. Among these, the convenience stores dominated the market by procuring the highest revenue share in 2020. In the majority of convenience and drug stores, these items are either placed along with body supplements or placed next to the cash counter to leverage the consumer buying behaviors.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific is expected to showcase the substantial growth rate during the forecast period. The growth of the regional market is expected to be boosted by many factors such as a huge younger population, rising disposable income, and increasing awareness about physical wellness in countries like India, China, South Korea, and Japan.
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Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1.2 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies deployed in Functional Shots Market
Chapter 4. Global Functional Shots Market by Product
Chapter 5. Global Functional Shots Market by Distribution Channel
Chapter 6. Global Functional Shots Market by Region
Chapter 7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/djw897
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INDUSTRY KEYWORD: FOOD/BEVERAGE RETAIL
SOURCE: Research and Markets
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PUB: 06/25/2021 11:49 AM/DISC: 06/25/2021 11:49 AM