Data provided by Grand View Research shows that the global nonalcoholic beverage market size was valued at USD 967.3 billion in 2016. The market is projected to grow at an estimated CAGR of 5.8% from 2017 to 2025. The growth of the market is explained by several factors including rising disposable income, population growth, and changing lifestyle. In addition, increasing concerns regarding obesity and health awareness are expected to trigger the growth of functional beverage and bottled water product segment, while at the same time reduce the consumption of carbonated drinks. Koios Beverage Corp. (OTC: SNOVF), Monster Beverage Corporation (NASDAQ: MNST), Celsius Holdings, Inc. (NASDAQ: CELH), National Beverage Corp. (NASDAQ: FIZZ), Dr Pepper Snapple Group, Inc. (NYSE: DPS)
The report also indicates that the functional beverage sector is expected to develop into the fastest growing product in the market over the forecast period. A functional beverage is a non-alcoholic drink which offers potential health benefits and contains non-traditional ingredients like minerals, vitamins, amino acids or added raw fruits. Energy drinks, sports drinks & nutraceutical drinks are the major segments of the global functional beverages market. As for the value of the market, Mordor Intelligence indicates that the functional beverage market was valued at USD 26.2 billion in 2015, at an expected CAGR of 6.5% by 2023.