Global Vitamin Drinks Market size is estimated to reach 2.1 billion by 2027, growing at a CAGR of 3.8% during the forecast period 2022-2027. Vitamin drink is a term used to demarcate beverages designed to fulfill the micronutrient requirement of the body. Vitamin drinks are a rich source of various minerals and vitamins such as ascorbic acid, D-calcium pantothenate, niacin, thiamine, cobalamin, and others. These vitamins and minerals play noteworthy use in the digestion of fats (linoleic and oleic acids) and amino acids such as valine, histidine, and tryptophan. Several artificial sweeteners like aspartame, neotame, saccharin, and sucralose are taken into account during the synthesis of some vitamin drinks which raises questions regarding the safety of such beverages. Moreover, vitamin drinks fall under two prime categories: carbonated drinks and non-carbonated drinks. The only difference between the two that separates both from each other is that carbonated drinks have CO2 which confer a sparkling taste upon consumption, whereas, the latter doesn’t have CO2 content. The global vitamin drinks market outlook is fairy astonishing owing to sky-rocketing consumption worldwide. Swift urbanization, mounting health cognizance, nutrient deficiency, broadening sports trends, and escalating disposable income are factors set to drive the growth of the Global Vitamin Drinks Market for the period 2022-2027.
Global Vitamin Drinks Market Segment Analysis-By Product Type
The Global Vitamin Drinks Market based on the product’s type can be further segmented into carbonated and noncarbonated. The carbonated segment held the largest share in 2021. The growth is owing to better taste and texture owing to the presence of carbon dioxide. Carbonated vitamin drinks extend a glittery taste and develop bubbles inside the stomach. These bubbles instigate burps which helps in instant relief from pain owing to acidity and indigestion. Even though consumption of carbonate beverages can erupt several illnesses related to bone health but ascribing to their outstanding taste which extends pleasure and bubbly sensation by prompting the pain receptors, such drinks are more desired by people. The noncarbonated segment is estimated to be the fastest-growing with a CAGR of 4.5% over the forecast period 2022-2027. This growth is owing to rising health awareness among people. Health hitches related to carbonated drinks such as irritable bowel syndrome, obesity, diabetes, and tooth decay have changed people’s preference toward CO2-induced drinks. Considering the changing dynamics, players in the market are focusing upon state-of-the-art flavor options in non-carbonated drinks which is likely to fuel the demand.
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Global Vitamin Drinks Market Segment Analysis-By Distribution Channel
The Global Vitamin Drinks Market based on distribution channels can be further segmented into physical/offline facilities and e-commerce platforms. The offline segment held the largest share in 2021. The growth is owing to the wide-ranging presence of physical facilities. The problem with online purchases is delayed deliveries and people can’t even shop in bulk. Consequently, as people get the convenience of both instant purchase and bulk buying, they prefer buying offline more. Moreover, in bucolic areas, attributed to the scarcity of e-commerce facilities, most of the purchases occur through physical stores rather than online platforms. However, the online segment is estimated to be the fastest-growing segment with a CAGR of 4.2% over the forecast period 2022-2027. This growth is owing to the COVID-19 restrictions. People are left with no other option but to shop online as they are cooped up inside their homes. On another hand, year by year the size of the tech-friendly population is broadening and owing to breakthroughs in the telecom sector, people are getting all-weather access to the internet.
Global Vitamin Drinks Market Segment Analysis-By Geography
The Global Vitamin Drinks Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 36% of the overall market in 2021. The growth in this segment is owing to the factors such as high demand owing to the quality lifestyles of people. Owing to full-fledged economies people in North American countries enjoy high disposable incomes. Moreover, sport-loving culture has provided fairgrounds for the growth of the market. On another hand, a proper chain of top-notch retail outlets allows people to such purchases at the drop of a hat. However, the Asia-Pacific segment is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to expanding vitamin drinks industry attributed to ease of doing business in countries like India and China. Moreover, rising population, ameliorating infrastructure, and budding purchasing power are the factors ensuring a steady growth of the market.
Global Vitamin Drinks Market Drivers
Rising health awareness among people is Anticipated to Boost Product Demand
Social media has played a significant role in augmenting the overall alertness and education of people regarding various health complications. Today people don’t need to waste their time for asking an appointment with a doctor, social media has extended the liberty to establish contact with medical practitioners through the internet or read about the maladies by themselves. According to a study, 4 out of every 10 people throughout the globe suffer from digestion disorders which eventually lead to life-threatening complications like cancer, heart attack, kidney stone, and others. On another hand, a report by the World health organization claimed that more than 140 million children under the age of 5 years experienced stunted growth owing to malnutrition in 2020. Consequently, owing to heightened consciousness people in today’s world making more demand for vitamin-rich beverages.
Growing sports culture and per capita income is Expected to Boost Product Demand
The U.S. and China are well known for their extreme sporting culture. The exceptional performance of these nations speaks for the sports-friendly environment in these nations. Nevertheless, governments in other major developing countries like India are taking various progressive and visionary steps to make sports a fundamental part of the country. The Indian government is paying too much emphasis on schemes like khelo India. Furthermore, in a recently announced budget, the Indian government has raised the sports spending by 305 crores Indian rupees for FY23. Vitamin drinks are extensively consumed by sports players to regain energy and enhance their overall performance. Therefore, a sports-loving environment around the globe is likely to confer a sheer boost to the vitamin drinks market. On another hand, proliferating the disposable income of people is another factor driving the market growth.
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Global Vitamin Drinks Market Challenges
Health complications owing to excessive use and hampered manufacturing activities are Anticipated to Hamper Market Growth
Excess of something is not good for anybody. There is a famed quote that goes like “Too much darkness can kill you, similarly too much of the light can make you blind.” Therefore, excess usage of carbonated vitamin drinks added with artificial sweeteners can lead to health complications like kidney problems, tooth decay, insulin resistance, and obesity which can turn many people frigid toward the consumption of such drinks. Nevertheless, manufacturers around the globe are confronting production-related hitches owing to fewer employees and hampered supply chains which can strangle the steady growth of the market.
Global Vitamin Drinks Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the report. Global Vitamin Drinks top 10 companies include:
In November 2021, “Coca Cola” a renowned beverage manufacturing company based in Georgia, United States publicized that company has successfully acquired Queens, New York-based sports drink firm “Bodyarmor SuperDrink.” Coca-Cola already had bought 18% of ownership in BodyarmorSuperDrink back in 2018. Moreover, A total payment of $5.6 billion was made by a beverage giant in order to purchase controlling interest.
In June 2020, US-based world-famous food and beverage company PepsiCo announced the successful acquisition of Nevada, United States-based drink company “Rockstar.” In order to bring acquisition to a close PepsiCo paid around $3.86 billion to Rockstar. The transaction extends advantages and strengthens PepsiCo’s energy drink portfolio which is likely to help the company in competing with other giants in the industry such as Coca-Cola.
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Geographically, the North America Vitamin Drinks Market accounted for the highest revenue share in 2021. Furthermore, the Asia-Pacific segment is poised to dominate the market over the period 2022-2027.
Proliferating popularity among millennials and expanding sporting culture throughout the world is said to be a preeminent driver driving the growth of the Global Vitamin Drinks Market. Health complications associated with beverages prepared with artificial sweeteners and diminishing demand owing to the COVID-19 outbreak are said to reduce the market growth.
Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Global Vitamin Drinks Market report.
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