According to IMARC Group’s latest report, titled “Functional Shots Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market grew at a CAGR of around 10% during 2015-2020. Functional shots are non-alcoholic beverages reinforced with specific nutrients to provide health benefits. They are usually obtainable in various flavors and are customized to provide the desired quantity of electrolytes, minerals, carbohydrates, vitamins, dietary fibers, probiotics, etc. Commonly known functional shots include yogurt, sports and energy drinks, enhanced water, fruit juices, and ready-to-drink (RTD) teas. They are manufactured using several ingredients, such as ginger, black pepper, onion, beetroot, garlic, mushrooms, seaweed, etc. Regular consumption of functional shots aids in preventing diarrhea, bowel diseases, indigestion and improving the immune system. As a result, they are widely available in supermarkets, convenience stores, hypermarkets, online channels, etc.
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The escalating demand for concentrated nutritional concoctions with natural ingredients by consumers is among the primary factors driving the functional shots market. Besides this, the elevating health concerns among individuals are further augmenting the market growth. Apart from this, the launch of vegan and plant-based beverages in exotic flavors and attractive packaging is also catalyzing the global market. Moreover, the rising intake of functional shots among the masses to enhance immunity, metabolism, energy levels, and overall health, on account of the sudden outbreak of the COVID-19 pandemic, is acting as another significant growth-inducing factor. Furthermore, the increasing expenditure capacities of the consumers and the extensive research and development (R&D) activities in the field of food engineering are anticipated to propel the functional shots market over the forecasted period. Looking forward, IMARC Group expects the functional shots market to exhibit strong growth during 2021-2026.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- AriZona Beverages USA
- Hardcell LLC
- Hawaiian OLA
- Kuli Kuli Inc.
- Living Essentials LLC
- LXR Biotech LLC
- PepsiCo Inc.
- Royal Pacific Foods.
Breakup by Product:
Breakup by Distribution Channel:
- Hypermarkets and Supermarkets
- Convenience Stores
- Online Stores
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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