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Fortified Beverages Market Share

ID: MRFR//2174-HCR | 110 Pages | Author: Sakshi Gupta| November 2024

In the dynamic landscape of the Fortified Beverages Market, companies deploy various strategies to carve out their market share and remain competitive. One central strategy is product differentiation, where companies focus on offering fortified beverages with unique features or attributes that set them apart from competitors. This could include specific vitamin and mineral blends, exotic flavors, or innovative formulations. By providing distinct products, companies aim to capture the attention of consumers seeking enhanced nutritional value and, in turn, establish a solid market share.

Cost leadership is another crucial strategy within the Fortified Beverages Market. Becoming a low-cost producer allows companies to offer competitively priced fortified beverages, attracting price-sensitive consumers. Achieving cost leadership may involve optimizing production processes, efficient sourcing of ingredients, or economies of scale. This strategy is particularly effective in markets where consumers are actively seeking affordable yet nutritionally enriched beverage options.

Innovation is a driving force in market share positioning within the Fortified Beverages Market. Companies invest in research and development to introduce new and improved formulations, functional ingredients, or delivery methods. Staying at the forefront of beverage innovation allows companies to cater to evolving consumer preferences for health and wellness, positioning their products as cutting-edge and gaining a competitive edge in the market.

Effective branding and marketing strategies play a pivotal role in the Fortified Beverages Market. Building a strong brand identity and promoting the health benefits of fortified beverages through targeted marketing campaigns can significantly influence consumer choices. Companies leverage various channels such as social media, influencer collaborations, and product endorsements to create awareness and establish trust. A positive brand image enhances customer loyalty and contributes to the expansion of market share.

Distribution channels are critical for market share positioning within the Fortified Beverages Market. Companies strive to establish efficient and widespread distribution networks to ensure that their products are readily available to consumers. This might involve partnerships with grocery stores, supermarkets, health food outlets, or online platforms. The accessibility of fortified beverages through diverse distribution channels contributes to increased market share by reaching a broader consumer base.

Market segmentation is another key aspect of market share positioning in the Fortified Beverages Market. Companies analyze consumer demographics, preferences, and lifestyle choices to identify specific market segments. For example, some consumers may prioritize low-calorie options, while others may seek beverages fortified with specific vitamins for targeted health benefits. By tailoring products to these segments, companies can address a wider range of consumer needs and preferences, ultimately enhancing their market share.

Adaptability is crucial in navigating the ever-evolving Fortified Beverages Market. Companies that stay abreast of emerging health trends, scientific advancements, and regulatory changes can adjust their strategies accordingly. This adaptability allows companies to respond swiftly to consumer demands, capitalize on new opportunities, and address challenges, ensuring the maintenance or expansion of their market share in this competitive market.

Covered Aspects:

Report Attribute/Metric Details
Base Year For Estimation 2023
Forecast Period 2024-2032
Growth Rate 7.50% (2024-2032)

Global Fortified Beverages Market Overview


Fortified Beverages Market is expected to garner a revenue of USD 247 Billion by 2032 with a CAGR of approximately 7.50% during the forecast period, 2024-2032. The fortified beverage is a type of healthy drink that offers extra micronutrients. This drink includes essential trace elements and some different vitamins. The process of adding micronutrients to beverages is the fortification of beverages. These are consumed by the different age groups. Fortified beverages provide a diverse range of products that are enriched with several nutrients.


Fortified Beverages Market Overview


These are available in various types such as energy drinks, fruit juices, flavored powder drinks, sports drinks, flavored milk, mineral water, and soft drinks. Fortified mineral drinks include medicinal properties that offer healing benefits along with the required nutrients to the human body. These fortified beverages can build up a resistance power that is required to the human body and fight against common diseases. Owing to the increased hectic work life, consumers are preferring convenience products to fulfill the nutrition daily required for the human body. 


Covid-19 Analysis


Due to the COVID-19 outbreak, various sectors are negatively impacted worldwide. To control the spread of the virus, various stringent regulations are imposed by the government like semi or full lockdown, business sectors and educational sectors off, retail shops shut down, transportation bans, etc. Due to the lockdown, manufacturing sectors are facing issues like lack of raw material, labor death, supply chain disruptions, and many more, and hence it leads to stoppage of production.


The fortified beverages market is also drastically impacted in the first two quarters of 2020 due to the supply chain disruptions, manufacturing stoppage, and retailer shops shutdowns. Thus, the demand for the fortified beverages industry decreases. But later the pandemic situation increases the awareness among the consumers regarding healthy food that includes nutrients, vitamins, minerals, and proteins. Rapidly the fortified beverages market growth increases as the fortified beverages build up a resistive power in the human body which is very essential in this pandemic situation. Due to the strong initiatives of few organizations like the World Health Organization (WHO) and Food and Agriculture Organization, the fortified beverages industry is again regaining its demand for providing healthy nutrients and minimizing malnutrition.


Market Dynamics


Drivers


Growing health-conscious consumers and the enhancement of livelihood in developing economies are expected to drive the market during the assessment period. Growing per capita disposable income in developing economies along with the increasing urbanization is predicted to propel the growth of the market. These beverages are available in various packaging solutions and pouches are the most attractive packaging solution which increases the demand for the fortified beverages market. Health concerns coupled with growing disease incidences are the major driving factor of the market.


Restraint


Regular up and downs in raw material prices are restraining the market growth.  Taking nutrition beyond the required level leads to obesity and increased blood pressure is hampering the global market growth.


Opportunities


The constant growth in the agriculture industry and food processing industry may allow key players to invest in the fortified beverages market. Growing demand for innovative products such as plant-based and lactose-free beverage products may propel market growth. The inclusion of CBD-infused functional beverages is predicted to create an opportunity to increase the growth of the global market. 


Challenges


Nutrient’s fortifications may cause related side effects may act as a challenge to the fortified beverages market. There is a chance of eatables may deliver a toxic amount of nutrients.


Study Objectives



  • To provide detailed information about the fortified beverages industry structure along with various forecast segments and sub-segments for the next 10 years.

  • To provide the factors that are affecting the growth of the fortified beverages industry value.

  • To analyze the fortified beverages industry analysis based on porter’s five force analysis, factors-price analysis, supply chain analysis, etc.

  • To provide history and forecast revenue segments and sub-segments of the fortified beverages industry revenue for the main geographies.

  • To provide the country-level analysis of the current global market size and future prospective. 

  • To provide country-level analysis of the fortified beverages industry growth by region, form, and application.

  • To provide a strategic profile of the prominent key players in the market, analyze their core competencies, and draw a global market growth landscape.

  • To track and analyze new product developments, strategic alliances, and global market research.


Segmentation


The global fortified beverages market has been divided into segments based on nutrients, product type, distribution channel, and region.


Based on Product Type


By product type, the global fortified beverages market is divided into two types as alcoholic beverages and non-alcoholic beverages. Again, non-alcoholic beverages are sub-segmented into sports drinks, fruit juices, energy drinks, bottled water, flavored milk products, flavored powder drinks, soft drinks, and others.


Based on Nutrients


Based on the nutrients, the global fortified beverages market is classified into two types as mineral and vitamin. Again, the mineral segment is sub-segmented into zinc, folic acid, copper, iron, DHA, and others. Apart, the vitamin segment is sub-segmented into Vitamin A, Vitamin C, Vitamin D, and others.


Based on Distribution Channel


The global market based on distribution channel is bifurcated into supermarkets & hypermarkets, specialist retailers, convenience stores, and others.


Based on Region


Regionally, the global fortified beverages market is categorized into Europe, Asia-Pacific, North America, and the Rest of the World. Among these, North America is holding the highest share for its growing per capita income and changing lifestyles of the consumers in the U.S.


Regional Analysis


Geographically, the fortified beverages market based on regions is divided into North America, Asia-Pacific, Europe, and the Rest of the World. Out of these regions, North America is dominating the largest fortified beverages industry share due to the increasing per capita income along with changing lifestyles of the consumer in the U.S. Europe is also predicted to hold a healthy market proportion.


Emerging economies like India and China are offering a lucrative opportunity to the Asia-Pacific region and are expected to exhibit a significant CAGR for the fortified beverages market during the review period. The high incidence of cardiovascular disease, arthritis, osteoporosis, changing lifestyle among consumers, and growing demand for convenience beverages are boosting the growth of the market in this region. Moreover, with rising the prevalence of diabetes in India and China, people are having awareness regard healthy diet and active lifestyle that leads to prefer the natural sweetener like beverages.


 In 2019, The International Diabetes Federation report states that India was home to 77 million diabetes patients which is the second largest in the world and it is expected that it reaches 101 million by 2030. Due to the growing disposable incomes, Latin America is expected to show high potential for the global market.


Competitive Landscape


The prominent key players in the fortified beverages market outlook are the following:



  • Danone SA (France)

  • Nestle SA (Switzerland)

  • The Coco-Cola Company (U.S.)

  • The Boots Company PLC (U.K.)

  • Tropicana Products Inc. (U.S.)

  • General Mills, Inc. (U.S)

  • Abbott Laboratories (U.S.)


Recent Developments



  • In 2021, one of the leading company Gaclife introduced a line of seven daily healthy beverages drink that has many benefits as aids in skin health, sleep, energy, relaxation, and detoxification. This drink includes caffeine and amino acid L-theanine which are sourced from green tea leaves. Apart, it also contains ginseng, taurine, B vitamins, guarana, and amino acids.

  • In 2021, one of the leading companies Gaclife introduced a line of seven daily healthy beverages which aids in skin health, sleep, energy, relaxation, and detoxification.

  • In 2021, the highly popular enterpriser PepsiCo introduced an innovative functional beverage drink named Driftwell which is specially designed to help consumers relax, unwind, and de-stress. The production of this drink includes the amino acid L-theanine. This drink promotes relaxation without drowsiness, like magnesium, and also has a spa-water-inspired flavor with hints of blackberry and lavender.


Report Outlook


Globally, the fortified beverages market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the fortified beverages industry drivers, restraints, challenges, and opportunities. The fortified beverages industry forecast segments are nutrients, product type, distribution channel, and region.


Segmentation Table


The fortified beverages market trends have been segmented globally based on the nutrients, product type, distribution channel, and region.


By Product Type


Alcoholic beverages and non-alcoholic beverages.


By Nutrients


Mineral and vitamin.


By Distribution Channel


Specialist retailers, convenience stores, supermarkets & hypermarkets, and others are few distribution channels.


By Region


Asia-Pacific, Europe, North America, and the rest of the world are the four main geographies included in the fortified beverages market.

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