Rockville, MD, Jan. 16, 2025 (GLOBE NEWSWIRE) -- The global better-for-you beverages market was valued at US$ 197.3 million in 2023 and has been forecasted to expand at a noteworthy CAGR of 8.5% to end up at US$ 484.0 million by 2034.
The energy drink market continues to perform well, driven by a mix of loyal consumers and new players showing a growing attraction to Better-For-you (BFY) beverage options. This growth was driven mainly by demand for healthier energy drinks as people are more conscious about health. Concerns over the negative health impacts of traditional energy drinks have pushed the market towards products with natural ingredients, reduced sugar, and added functional benefits. With these changing consumer demands, the sector has continued to thrive; the key demographics remaining older millennials and Gen Alpha consumers.
Better-for-you (BFY) beverages are becoming the major shift that customers increasingly seek to replace traditional sweet drinks. This trend creates substantial opportunities for makers of low-calorie, functional, and plant-based beverages to capture an increasingly health-conscious customer base. Key Market players such as PepsiCo are cashing in on this sugar-free trend to attract health-conscious consumers.
In 2023, PepsiCo -sugar options of Pepsi Black with the launch of Pepsi Black Mango in China, the U.K., and South Korea.
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Key Takeaways from the Market Study
- The global Better-for-you (BFY) beverages market is projected to grow at 5% CAGR and reach US$ 484.0 million by 2034
- The market created an opportunity of US$ 59 million growing at a CAGR of 3% between 2019 to 2023
- North America is a prominent region that is estimated to hold a market share of 3% in 2034
- Predominating market players include PepsiCo, Nestlé, Hint Inc., CELSIUS Holdings, Inc. and The Coca-Cola Company
- Product Type under Non-alcoholic Beverages type is estimated to grow at a CAGR of 6% creating an absolute $ opportunity of US$ 150.2 million between 2024 and 2034
- North America and East Asia are expected to create an absolute $ opportunity of US$ 130.3 million collectively
“The better-for-you beverages market keeps getting stronger as health consciousness improves. With shoppers reaching out for healthier alternatives to sugar-laden drinks, manufacturers are innovating with low-calorie, functional, and plant-based options.” says a Fact.MR analyst.
Leading Players Driving Innovation in the Better-For-You Beverages Market:
Key players in the better-for-you (BFY) beverages market are Nestlé, PepsiCo, Suntory Beverage & Food, The Coca-Cola Company, Hint Inc., The Hain Celestial Group, Unilever, CELSIUS Holdings, Inc., Keurig Dr Pepper, and Bodyarmor Sports Nutrition.
Market Development:
Key players in the food industry are focusing more on healthy ingredients. Adoption of healthy recipes will allow them to be sustainable in this rapidly changing industry. Companies such as Nestlé have started disinvesting in their sugar products and emphasizing reducing its content in their product portfolios. They are also making efforts to improve the nutrient value of the food.
For instance, In March 2024, PepsiCo India introduced a no-calorie carbonated beverage call Pepsi black. This is part of its increased foray into low-calorie beverages in response to the fast growing consumer demand for healthier and guilt free option.
Better-For-You Beverages Industry News:
- In May 2024, Hint introduced its newest flavor, tangerine as a direct-to-consumer offering on their website. The no-calorie, no sugar flavored water is the newest addition to this growing portfolio of health-conscious products from the company.
- In Feb 2022, Nestle health science agreed to purchase a majority stake in Orgain, a leader in plant-based nutrition, from founder Dr. Andrew Abraham and Butterfly Equity will continue to be minority share owners. Orgain complements Nestle Health Science’s existing portfolio of nutrition products that support healthier lives
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global Better-for-you (BFY) beverages market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis of the product type (Non-alcoholic Beverages), Ingredients Types (Plant Protein), Functionality (Energy/Performance) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).
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