The global functional projector market size is expected to reach $ 1. 4 billion by 2027, representing a market growth of 16% CAGR during the forecast period. Functional shots are considered non-alcoholic drinks.
New York, May 26, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Global Functional Shots Market By Product, By Distribution Channel, By Regional Outlook, Industry Analysis Report and Forecast, 2021-2027” – https://www.reportlinker.com/p06075902/?utm_source=GNW
They are generally available in a wide variety of varieties and are modified to provide the right amount of carbohydrates, electrolytes, minerals, vitamins, dietary fiber, and probiotics. Sports and energy drinks, improved water, yogurt, fruit juices, and ready-to-drink (RTD) teas are some of the widely available functional drinks. Various ingredients like onion, beetroot, ginger, mushrooms, black pepper, garlic and seaweed are used in the preparation of functional shots.
There are many ingredients used to make functional shots, including onion, spirulina, ginger, reishi mushrooms, black pepper, horseradish, garlic, habanero pepper, moringa, and seaweed. The constant development of microbiology, nutrition, food engineering and biochemistry has motivated manufacturers to develop unique drinks such as functional injections. Boosting immunity and energy level are the main benefits of functional shots. For health-conscious consumers, functional injections are gradually becoming an important part of their diet.
Impact of COVID-19
The current outbreak of the COVID-19 pandemic is sort of a once-in-a-century pandemic. It is also something that would have a profound impact on concerns about health, diet and consumption habits. As functional injections help increase immunity, the COVID-19 pandemic is likely to fuel the demand and growth for functional injections in the years to come, as consumers constantly seek products to reduce the risk of disease. The COVID-19 pandemic has brought about the transformation of the functional snapshot market. Due to this pandemic, consumers are constantly on the lookout for products that can boost immunity. Hence, this aspect creates new avenues of growth for the global functional clichÃ©s market. These functional snapshots offer various advantages as they are very practical and can be stored easily. Some functional shots can be stored in cold places, while there are other functional shots that last a long time even at room temperature. This factor, along with the practical costs of functional photography, is expected to fuel the growth of the functional photography market.
On the basis of product, the market is segmented into energy, immunity, detox, and other products. In 2020, the global functional blasting market was dominated by the energy blasting segment as it achieved the maximum revenue share. A high number of product launches resulting in wide penetration with consumers is responsible for this growth.
Distribution channel outlook
Based on the distribution channel, the market is segmented into convenience stores, hypermarkets and supermarkets, online and other distribution channels. Of these, convenience stores dominated the market with the highest revenue share in 2020. In the majority of convenience stores and drugstores, these items are either placed with body supplements or placed next to the cash register for take advantage of consumer purchasing behavior.
On the basis of regions, the market is segmented into North America, Europe, Asia-Pacific and Latin America, Middle East and Africa. Asia-Pacific would post the substantial growth rate during the forecast period. The growth of the regional market is said to be driven by many factors such as huge young population, increasing disposable income and growing awareness of physical well-being in countries like India, China, South Korea and Japan.
The market research report covers the analysis of the major players in the market. Major companies featured in the report include PepsiCo, Inc., AriZona Beverages Company LLC, Kuli Kuli, Inc., Living Essentials Marketing LLC (5-hour ENERGY), EBOOST, Dragononi, Inc. (Hawaiian OLA), Royal Pacific International, LXR Biotech, LLC, Hardcell LLC, and Kudu Energy LLC.
Strategies deployed in the functional snapshots market
May-2021: PepsiCo unveiled its latest innovation, soulboost. It’s a sparkling water drink with a touch of real juice and some functional ingredients. This product, Soulboost offers the pleasure of a fruity drink via a light and guilt-free sparkling water refreshment.
Oct-2020: Arizona Beverages launched Arizona Sunrise Hard Seltzer. This latest offering has a touch of real fruit and is available in four different flavors: Cherry Punch, Mucho Mango, Lemon and Grapefruit.
Aug-2020: AriZona Beverages has expanded its product line by adding Pineapple to its range of fruit juice cocktails. The AriZona Pineapple is the sixth addition to the brand’s line of juice cocktails, which consists of staple flavors like Mucho Mango, Fruit Punch and Watermelon.
June-2020: AriZona Beverages unveiled SANTA FÃ, a new range of sparkling waters. It is made from real fruit which includes the first and only sparkling Arnold Palmer. Containing less than 20 calories in each 16-ounce can, SANTA FÃ is a low-carb, gluten-free drink.
Apr-2020: PepsiCo signed an agreement with Vital Pharmaceuticals, supplier of sports and energy drinks. This agreement aims to distribute Bang Energy in the United States and plays an important role in the overall energy drink strategy of PepsiCo and allows them to significantly boost the distribution of Bang Energy to meet growing consumer demand.
Mar-2020: PepsiCo announced the acquisition of Rockstar Energy, an energy drink company. This acquisition aims to double energy drinks and turn around its Mountain Dew brand.
Jul-2018: EBOOST launched its Energy + Natural Vitamin SHOTS with extra-powerful Superberry, Berry-Melon and Fruit Punch flavors. This launch covers 7-Eleven sites across the United States.
May-2018: Living Essentials launched 5 Hour Tea Injections, a product line available in peach tea flavor. It’s like the 5-hour ENERGY shots, the 5-hour tea shots are quick, simple, and designed for people who work hard.
Nov-2017: PepsiCo has formed a joint venture with Suntory Beverage & Food. Under this agreement, Suntory owns 51% of the shares of International Refreshment Co, a PepsiCo operation. This company aimed to expand the drinks business of both companies in Thailand using their respective strengths.
Aug-2017: EBOOST has expanded its product line by adding to the EBOOST product line. This addition includes CULTURE, Daily Probiotics; PRIME, grass-fed whey protein (vanilla and chocolate); SPRUCE, green juice powder.
Scope of the study
Market segments covered in the report:
â¢ Others products
By distribution channel
â¢ Convenience stores
â¢ Hypermarkets and supermarkets
â¢ Other distribution channels
â¢ North America
o Rest of North America
o United Kingdom
o Rest of Europe
â¢ Asia Pacific
o South Korea
o Rest of Asia-Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
â¢ PepsiCo, Inc.
â¢ AriZona Beverages Company LLC
â¢ Kuli Kuli, Inc.
â¢ Living Essentials Marketing LLC (5 hours ENERGY)
â¢ Dragononi, Inc. (Hawaiian OLA)
â¢ Royal Pacific International
â¢ LXR Biotech, LLC
â¢ Hardcell LLC
â¢ Kudu Energy LLC
â¢ Full coverage
â¢ The largest number of tables and figures on the market
â¢ Subscription based model available
â¢ Best price guaranteed
â¢ Assured after-sales research assistance with 10% free customization
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