Owing to growing consumer needs and their awareness about the fundamental needs for nutrition and proactive measures to prevent chronic ailments and attain well-being, demand for fortified beverages has grown in recent years. The growth has been driven by the increased acceptance of health & wellness products amongst the consumers and their motivation on improving immunity. With growing health concerns and rising per capita health care cost, there has been surge in demand of fortified beverages consumption and consumers indulging in the pursuit of healthy buying goes for fortified beverages as fortification of beverages involves the process of adding micronutrients to beverages which are generally consumed by the different age group consumers.
Fortified Beverages market holds a bright spot in the beverage space. Fortified Beverages demand will grow at a progressive rate in the developing nations. The notion of good-for-you nutrients on the go is primarily driving the growth of the market and future growth in fortified beverage market is expected with the integration of ingredient suppliers, beverage manufacturers and consumers. Manufacturers are focusing on sourcing high-quality ingredients to meet consumer demand. With an increasing demand for new flavors, market players are constantly innovating to meet the changing tastes and demand of the consumers. With the rapidly changing tastes and preferences of consumers, the demand for new and exotic flavors is growing.
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Mainstream consumers are inclined to consume fortified beverages as it helps them curb their appetite, burn fat and help reduce their body weight. Fortified Beverages has attracted the attention of consumers owing to the power of social media influencers and celebrity endorsements which primarily trigger the demand of perfumes and fragrance end-products. The growth has been driven by the increased demand by health cognizant consumers and their motivation on improving immunity. Furthermore, hectic lifestyles coupled with rising disposable incomes are the key growth factors. With changing lifestyle and altering consumer preferences, and strong performance of retail sector have significantly resulted in growing demand of Fortified Beverages.
Major Key Players:
This report includes a study of strategies such as mergers and acquisitions, product launches by the major fortified beverages market players. It further includes product portfolios, developments of leading major players which includes
- General Mills, Inc. (U.S.)
- Danone SA (France)
- Nestle SA (Switzerland)
- The Boots Company PLC (U.K.)
- Tropicana Products Inc. (U.S.)
- The Coco Cola Company (U.S.) and
- Abbott Laboratories (U.S.)
Fortified Beverages Market is segmented into Europe, Asia Pacific, North America and rest of the world (ROW). Among these, North America region is expected to retain its dominance throughout the forecast period. This is attributed by the increasing per capita disposable income coupled with the changing lifestyles of the consumer in U.S. Europe is also estimated to hold healthy market proportion in the fortified beverages market. However, Asia pacific is projected to register maximum CAGR during the forecast period. Especially China and India offer a lucrative opportunity in the Asia Pacific region for the fortified beverages manufacturers. Latin American region is projected to show a high potential in the fortified beverages market due to the rising disposable income of some of the countries.
- Asia-Pacific is the fastest growing region in the fortified beverages market. India and China has shown huge potentials for fortified beverages market share during reviewed period of 2017-2023
- North America dominates the Fortified beverages market followed by Europe
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- Fortified beverages has been segmented on the basis of product type which include non-alcoholic beverages, alcoholic beverages. Non-alcoholic beverages can be sub segmented into fruit juices, sports drinks, energy drinks, flavored milk products, bottled water, flavored powder drinks, soft drinks and others.
- Fortified beverages market has been segmented on the basis of nutrients such as mineral and vitamin. Mineral segment is further sub segmented into zinc, folic acid, copper, iron, DHA, and others. Also, the vitamin segment is further sub segmented into Vitamin A, Vitamin C, Vitamin D and others.
- Fortified beverages has been segmented on the basis of distribution channel such as supermarkets & hypermarkets, specialist retailers, convenience stores and others.
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