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According to a new study by Grand View Research, the global functional drinks market is expected to reach $93.68 billion by 2019.
International Spirits and Beverage Group a top-tier brand incubator in the Global Wine & Spirits and CBD-Infused Products markets has announced the upcoming launch of the Company’s new Functional Beverage product line.
“The functional beverage space is a perfect fit for our Wellness division right now,” commented Terry Williams, CEO of ISBG. “The space is growing rapidly and we continue to expect strong wellness-related products to have lasting success in an expanding market context for the long-term, which makes it the perfect investment from a product perspective right now.”
Management notes that the functional beverage market caters to health and wellness consciousness, with consumers seeking nutritional inputs that can help to foster a healthier lifestyle. Functional beverages often represent high-nutrition dietary impact crafted to enhance performance and accomplish desired physiological goals through formulations focused on herbs, vitamins, minerals, nootropics, amino acids, or unprocessed fruit or vegetable material.
According to a new study by Grand View Research, the global functional drinks market is expected to reach $93.68 billion by 2019. The primary trend is being driven by a combination of greater focus on health and wellbeing by all consumers and the gradually increasing share of all consumption being accounted for millennials and younger consumers.
The Company has already begun early-stage production of CBD-infused versions of its functional beverage products as well, which could amplify the return on fixed-cost investment associated with development and product launch.
“Our initial focus will be on the central axis of a healthy functional product that can be marketed successfully to consumers who want an enjoyable beverage that packs a healthy punch,” continued Mr. Williams. “The pilot run will focus on electrolytes and strong functional impact with at least two core flavors. Our analysis suggests this is a market niche moving into accelerated growth, and we want a big toe in the water.”