Fortified Beverages Market -Overview:
A fortified beverage is a form of nutritious beverage that contains relevant micronutrients. This drink contains trace minerals and other vitamins. The process of adding vitamins to beverages is termed beverage fortification. As per MRFR, the market is estimated to gain a CAGR of 7.50% in the forecast period.
Fortified Beverages Market Share is expected to garner a revenue of USD 247 Billion by 2030 with a CAGR of approximately 7.50% during the forecast period, 2022-2030.
Due to the general elevated stress of modern life, users enjoy convenience items that will provide the daily nutrition required by the body. During the period of assessment, the market is likely to be determined by developing health-conscious consumers and the enhancement of livelihood in developing economies.
Segmentations:
The segmentation of the fortified beverages market is conducted based on product type, distribution channel, nutrient, and regions. By product type, the fortified beverages market comprises of alcoholic beverages and non-alcoholic beverages. Based on the nutrients, the fortified beverages market comprises of minerals and vitamins. Based on the distribution channel, the fortified beverages market comprises of supermarkets hypermarkets, convenience stores, and specialist retailers. Regionally, the global fortified beverages market comprises of Asia-Pacific, North America, Europe, and other pivotal regions.
Detailed Regional Analysis:
The regional assessment of the fortified beverages market is conducted for Asia-Pacific, North America, Europe, and other pivotal regions. North America is commanding the greatest fortified beverages market shares escalating per income levels and shifting customer habits in the United States. Europe is also supposed to hold a high market share. Advanced economies such as India and China are providing a lucrative opportunity to the Asia-Pacific region, and the Fortified Beverages Market Trends is set to grow at a considerable CAGR during the study period. The pervasiveness of cardiovascular illness, arthritis, osteoporosis, evolving consumer lifestyles, and growing preference for convenience beverages are propelling market expansion in this area. Furthermore, with the soaring prevalence of diabetes in India and China, people are becoming more aware of the importance of a healthy diet and an active lifestyle, which leads to a taste for natural sweeteners.
Competitive Landscape:
Governments worldwide are committing their support for market-friendly changes. The improving trade relations are projected to increase the international market in the coming years. The industry is anticipated to boost as new products are introduced that focus on satisfying the evolving requirements of their respective client bases. It is projected that implementing comprehensive research techniques to examine the market's future development will aid in market development. The market's development is projected to be hindered shortly due to a shortage of critical resources. The use of the internet for sales and marketing is expected to expand the market's prospects during the forecast period. The global contagion has provided businesses with a new mandate about the purchasing process and a rapid acceleration of digital transformation. Fresh business models and perceptions are present in current core operations and support functions in the forecast term. The function of mergers and applications is expected to become critical in maintaining development speed in the coming era.
The illustrious companies in the fortified beverages market are Nestle SA (Switzerland), Boots Company PLC (U.K.), The Coco-Cola Company (U.S.), The Tropicana Products Inc. (U.S.), Danone SA (France), General Mills, Inc. (U.S) and Abbott Laboratories (U.S).
Industry Updates:
Feb 2022 Alvinesa Natural Components, a developer of upcycled products, has acquired Cades Penedes, a Catalan processor of grape-derived sustainable ingredients. The move will boost Alvinesa's production capacity by up to 20% while also expanding the company's foothold in functional compounds derived from winemaking. Cades Penedes will enhance the amount of organic and high-polyphenol raw material. Sports nutrition, soft drinks, energy drinks, cold-pressed juices, teas, and fortified and flavored water are all examples of consumer product applications.
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