Functional beverages provide benefits beyond hydration from health benefits to help with focus, energy, relaxation or more.
A Mordor Intelligence report titled, “Functional Beverage Market – Growth Trends, COVID-19 Impact, and Forecasts (2021-2026)” predicted that the global functional beverage market will have a compound annual growth rate (CAGR) of 6.96% during the forecast period (2021 – 2026). And a report by Fior Markets found that the global functional beverages market is expected to grow from $125.39 billion in 2020 to $216.7 billion by 2028, growing at a CAGR of 7.08% during the forecast period (2021-2028).
Functional beverages have been a growing trend for the past several years, and it’s expected to continue, which means c-stores have an opportunity to appeal to customers by stocking functional beverages. Fior Markets pointed out that one reason is that customers are increasingly turning to ready-to-drink beverages, and as they do they’re more inclined to reach for something with added benefits as they work to preserve their health in the midst of increasingly hectic lifestyles. The COVID-19 pandemic has also aided the rise of functional beverages as customers began seeking drinks featuring added health benefits, vitamins and immune-boosting claims to protect themselves against COVID-19.
Many functional beverages are adding adaptogens, which help protect the body from stress and can provide a number of benefits from added focus to energy to relaxation. Plus, they are seen by customers as a better-for-you ingredient. Functional beverages come in all varieties from sparkling waters to juice drinks.
If you’re offering functional beverages at your convenience store, make sure that customers know! Use signage to communicate the new offering.