Functionality with flavour
In our new series Functionality Rules, we highlight functional food and beverage products that have captured the global market – and discuss what comes next.
Consumers have plenty of demands when it comes to food and beverage products. Among them is a desire that what they eat and drink offers some level of functionality. A desire which has become ever more apparent thanks to people’s renewed interest in their health – a lingering effect of COVID-19.
And with the global market for functional beverages alone expected to generate over $212 billion by 2028, it’s clear this segment is in good shape. But what does this mean in reality? What qualifies as a functional beverage today, and why are consumers so invested in this market? More importantly, what benefits do they expect to receive from such a product?
Liquid gold
The recent rise in demand for immune-boosting beverages has led to an influx of new products. Today, that list includes everything from energy drinks and fortified juices to dairy and dairy alternative drinks, enhanced water products, and coffee.
And with consumers willing to pay more for a beverage that boosts their body and mind, the market looks set to keep growing.
The megatrend effect
Though the notion of “food as medicine” has been around for thousands of years, it’s thanks to the relatively new health and wellness global megatrend that functional beverages have become so popular. Other megatrends like convenience also play a role, with consumers drawn to the notion of being able to satisfy a craving at any place or time while giving their body a nutritious and healthy snack.
Beverages with benefits
Flavour and ingredients are key to the rising interest in functional beverages – think natural flavours like beetroot and kale, and “clean”, healthy ingredients like protein, vitamins and fibre – but they’re not the only thing. When it comes to benefits, probably the most sought-out is better immune health, as noted in one survey from 2020.
With that in mind, part two of our series will focus on functional beverages that boast immune-boosting properties. What ingredients are most popular and why? Will this segment continue growing and, if so, what can we expect further down the line? To follow along with this series and discover what else is on our minds, subscribe to SIGnals Update, our exclusive bi-weekly newsletter.
- March 17, 2022