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According to the latest research report, the global functional beverages market size reached US$ 135.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 234.0 Billion by 2032, exhibiting a growth rate (CAGR) of 6.16% during 2024-2032.
The market is currently being driven primarily by the increasing demand for products among the geriatric population. Additionally, the market growth is being augmented by evolving consumer preferences and a growing awareness of the importance of nutrition and overall well-being. Beverages fortified with various vitamins, minerals, antioxidants, and other health-improving ingredients are also playing a significant role in influencing market growth. Moreover, the geriatric population is actively seeking beverages that offer tangible health benefits, such as improved joint health, enhanced cognitive function, and increased energy levels, representing another major factor inducing growth. Furthermore, the recent onset of the coronavirus disease (COVID-19) pandemic has led to an ongoing increase in product demand. Individuals are currently focusing on enhancing immune health, turning to beverages produced with immune-improving ingredients such as zinc, herbal extracts, and vitamins C and D.
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