Better-for-You Beverages Market to Reach $484 Million by 2034

The global better-for-you beverages market, valued at $197.3 million in 2023, is projected to expand at a notable CAGR of 8.5%, reaching an estimated $484 million by 2034, according to the latest market analysis by Fact.MR.

Rising Health Consciousness Drives Market Expansion

The energy drink sector continues to experience strong growth, driven by a mix of loyal consumers and new players showing a growing attraction to better-for-you beverage options. With rising awareness of the adverse effects of traditional energy drinks, more consumers are shifting towards BFY beverages that offer natural ingredients, reduced sugar, and functional health benefits. This trend is particularly strong among older millennials and Gen Alpha consumers.

As customers actively seek healthier substitutes for sugary drinks, opportunities are opening up for manufacturers specializing in low-calorie, functional, and plant-based beverages. Leading industry players such as PepsiCo are capitalizing on this shift by introducing sugar-free and health-conscious product lines.

Major Players Jump On Trends

PepsiCo, a dominant force in the BFY beverage sector, expanded its product offerings in 2023 by launching Pepsi Black Mango in China, the U.K., and South Korea, reinforcing its commitment to healthier beverage options. Similarly, Nestlé has been actively reducing sugar content across its portfolio while improving the nutritional value of its products. Other predominating market players include CELSIUS Holdings, Inc. and The Coca-Cola Company.

Other notable developments, according to the analysis, include:

• February 2022 – Nestlé Health Science acquired a majority stake in Orgain, a leader in plant-based nutrition, reinforcing its focus on supporting healthier lifestyles.
• March 2024 – PepsiCo India unveiled Pepsi Black, a no-calorie carbonated beverage, responding to the surging demand for guilt-free refreshment options.
• May 2024 – Hint introduced a new tangerine-flavored water, a zero-calorie and sugar-free beverage, strengthening its lineup of health-conscious drinks.

Key Market Insights

• The BFY beverages market is projected to grow at a CAGR of 8.5%, reaching $484 million by 2034.
• Between 2019 and 2023, the market created an opportunity worth $59 million, growing at a CAGR of 3%.
• North America is expected to remain a dominant region, holding a significant market share of 3% in 2034.
• Collectively, North America and East Asia are expected to generate an absolute dollar opportunity of $130.3 million.

Expert Insight

“The better-for-you beverages market keeps getting stronger as health consciousness improves,” said a Fact.MR analyst, in a recent press release. “With shoppers reaching out for healthier alternatives to sugar-laden drinks, manufacturers are innovating with low-calorie, functional, and plant-based options.”

About Fact.MR

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. To request the full report, visit their website here.