Functional Shots Global Market Report 2024

The functional shots market size has grown rapidly in recent years. It will grow from $0.67 billion in 2023 to $0.78 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The increase in the historical era can be credited to the expansion of the concentrated nutritional concoctions sector, heightened demand for health-conscious beverages, amplified emphasis on mental well-being, a growing aging populace, and an escalated request for health-enhancing hydration items.

The functional shots market size is expected to see rapid growth in the next few years. It will grow to $1.47 billion in 2028 at a compound annual growth rate (CAGR) of 17.2%. The anticipated growth in the forecast period is driven by an escalating desire for health and wellness commodities, a burgeoning preference for ready-to-drink (RTD) beverages, heightened health awareness among consumers, an increasing necessity for functional shots, and a growing consciousness regarding health. Noteworthy trends expected during this period comprise product innovation, the emergence of novel technologies, a rising consumer inclination towards immunity-boosting functional shots, inventive manufacturing techniques, and the adoption of natural, plant-based ingredients.

The rising demand for health and wellness products is poised to drive the growth of the functional shots market in the coming years. Health and wellness products encompass a variety of items aimed at enhancing physical, mental, and emotional well-being, including herbal supplements, protein powders, electrolyte drinks, and low-sugar beverages. Factors contributing to this demand include a focus on preventive healthcare, aging populations, and increasing health awareness among consumers. Functional shots, being versatile and adaptable, find applications in various health and wellness products such as dietary supplements, sports nutrition products, and wellness shots, catering to specific health goals and lifestyle preferences. For example, Monster Beverage Corporation reported a 2.6% increase in net sales for its Monster Energy Drinks segment in the fourth quarter of 2022, while non-alcoholic beverage exports from the United States surged by 20% in 2022, as per data from the United States Department of Agriculture. Thus, the growing demand for health and wellness products is a key driver for the functional shots market.

Leading companies in the functional shot market are concentrating on developing innovative products, including wellness shots, to offer consumers immune support and other functional benefits. Wellness shots are concentrated cold-pressed juices designed to provide convenient wellness support for everyday use, catering to various health needs throughout the day. For instance, Remedy Organics introduced Immunity+ Shots in March 2021, formulated with certified organic, plant-based ingredients. Available in varieties such as Heal Me, Protect Me, Energize Me, and Detoxify Me, each shot focuses on specific health benefits such as immunity, energy, detoxification, or digestion. These shots are fortified with essential minerals such as zinc, vitamin C, and vitamin D, along with antiviral components such as elderberry and ginger for immune support, and turmeric for its anti-inflammatory properties.

In November 2022, Suja Life LLC acquired Vive Organic to expand its product range and market presence in the wellness shot segment, leveraging Vive Organic's expertise in immunity-boosting shots to complement Suja's commitment to offering high-quality organic products promoting consumer health and wellness. Vive Organic is known for its range of immunity-boosting shots.

Major companies operating in the functional shots market are Monster Beverage Corporation, Pressed Juicery Inc., Suja Life LLC, 5-hour Energy, Vital Proteins LLC, Reed's Inc., Navitas Organics, The Ginger People, So Good So You, Arden's Garden, Lumi Juice, Uncle Matt's Organic, KOR SHOTS, Ethan's, Sofresco GmbH, Source Wellness LLC, Remedy Organics, Tasty6, BEE&YOU, Safety Shot Inc., ALO Drink, Tulua Functional Shots, Lumen Functional Shots, HPP Functional Shots, Wholesome Organics.

North America was the largest region in the functional shots market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the functional shots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the functional shots market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Functional shots are drinks crafted with precise ingredients to offer specific health advantages. Their purpose is to supply a potent dose of nutrients or bioactive compounds aimed at enhancing different aspects of health and wellness, such as boosting cognitive function, aiding digestion, or facilitating detoxification.

The primary categories of functional shots include energy, immunity, detox, and more. Energy shots are beverages designed to swiftly provide an easily accessible energy boost. These diverse functions encompass health and wellness as well as weight management and are distributed through various channels, including hypermarkets, supermarkets, convenience stores, online platforms, and others.

The functional shots market research report is one of a series of new reports that provides functional shots market statistics, including the functional shots industry global market size, regional shares, competitors with functional shots market share, detailed functional shots market segments, market trends and opportunities, and any further data you may need to thrive in the functional shots industry. These functional shots market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The functional shots market consists of sales of hydration shots, relaxation shots, digestive health shots, detox shots, and energy shots. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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