US and LATAM Functional Shots Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product (Energy, Immunity, Detox, and Others) and Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Online, and Others)

Publication Month: Feb 2021 | Report Code: TIPRE00019635 | No. of Pages: 127 | Category: Food and Beverages | Status: Published
Covid

The US & LATAM functional shots market was valued at US$ 2,309.25 million in 2019 and is projected to reach US$ 3,465.42 million by 2027; it is expected to grow at a CAGR of 5.2% from 2020 to 2027.

 

Functional shots are referred to as non-alcoholic beverages fortified with specific nutrients to provide a variety of health benefits. They are typically available in a wide range of varieties and are customized to provide the desired quantity of carbohydrates, electrolytes, minerals, vitamins, dietary fibers, and probiotics. Some of the widely available functional shots include sports and energy drinks, yogurt, enhanced water, fruit juice, and ready-to-drink (RTD) teas. They are produced using ingredients such as onion, ginger, black pepper, beetroot, garlic, mushrooms, and algae.

 

In 2019, Mexico held significant share in the US & LATAM functional shots market. The growth of US & LATAM functional shots market in Mexico is primarily attributable to the growth of functional shots market in Mexico is primarily attributable to the trend of gyms and wellness instruction is booming, from accessories and diets to training. Manufacturers are taking advantage of this trend by innovating their product offerings, such as vegan and plant-based beverages which are also expected to boost the demand for functional shots.

 

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. As of February 2021, US, Brazil, India, Russia, Spain and UK are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Food and beverage is one the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. However, the spread of COVID-19 served as a game-changing phenomenon for the functional shots market. A significant number of customers have been seeking immunity-boosting products amid the ongoing coronavirus pandemic, contributing to the rapid acceptance of the product. Thus, this has been one of the key drivers for the growth of the market for functional shots. These functional shots are very convenient and easy to store. These functional shots can be stored directly in cold environments, and certain functional shots can also be stored at room temperature. The convenient pricing of functional shots often drives the market. 

 

US & LATAM Functional Shots Market

US & LATAM Functional Shots Market

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Market Insights

Increase in Health Awareness Among Millennial Population

Functional shots are gaining popularity among individuals and athletes participating in physical fitness activities. The millennial population drives the market, showing a strong interest in sports, a tendency towards fitness, more purchasing power, and a desire to buy healthier goods. In the recent years, people have been increasingly inclined towards physical fitness, the number of health clubs and fitness centres. The rising number of fitness centres is one of the driving factors for the demand for functional shots during the forecast period. Health is a driving factor for many millennial customers when it comes to consuming soft drinks or any other drink. As a result of the highly reported backlash against sugar, consumers are becoming increasingly aware of the advantages and consequences of the products used in their beverages. This increasing awareness of health has ignited interest in functional shots that are considered to be 'good-for-you or 'better-for-you.' Further, in pursuit of a 'cleaner' lifestyle, healthier customers are searching for products that they see as 'better' than normal soft drinks, preferring alternatives that provide natural rather than artificial ingredients, as well as low-sugar or sugar-free products. Moreover, functional shots are gaining popularity among convenience-driven consumers. In order to overcome negative perceptions and address specific consumer health concerns, such as immune support or digestion, manufacturers use the healthy halo associated with natural, organic, and raw ingredients in functional beverages. This further creates a massive demand for functional shots across the US.

 

Product Insights

Based on product, the US & LATAM functional shots market is segmented into energy, immunity, detox, and others. The energy segment led the US & LATAM functional shots market with the highest market share in 2019. Energy drinks are known as functional drinks that have a calming effect with specific combinations of ingredients that are characterized by taurine, caffeine, vitamins, and other nutritionally or physiologically effective substances. Energy drinks are commonly marketed as energy-enhancing products that improve mental alertness and physical performance. Herbal ingredients play a significant role in the sensory assessment of energy drinks as well as the improvement of their positive health effects. Energy drinks are typically available in a broad range of varieties and are personalized to include the desired quantity of carbohydrates, electrolytes, minerals, vitamins, dietary fibers, and probiotics. Energy drinks are the most common dietary supplement that American teenagers and young adults consume. Men between the ages of 18 and 34 consume the most energy drinks, and almost one-third of teenagers between the ages of 12 and 17 drink regularly. Thus, all these factors are expected to increase the US & LATAM functional shots market growth in the energy industry.

 

US & LATAM Functional Shots Market, by Product – 2019 and 2027

 

 

Strategic Insights

Key market players include Boise Juice Co., Ethan's, Hawaiian OLA, KOR SHOTS, Lumen, LXR Biotech, LLC., Project Juice, Sofresco USA, SUJA LIFE, LLC, and Vive-Organic, INC. Major players in the US & LATAM functional shots market are focused on strategies such as mergers and acquisitions and product launch to increase the geographical presence and consumer base in US and LATAM.  

 

Report Spotlights

  • Progressive industry trends in the US & LATAM functional shots market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the US & LATAM functional shots market from 2017 to 2027
  • Estimation of the demand for US & LATAM Functional Shots across various industries
  • PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
  • Recent developments to understand the competitive market scenario and the demand for US & LATAM Functional Shots   
  • Market trends and outlook coupled with factors driving and restraining the growth of the US & LATAM functional shots market
  • Decision-making process by understanding strategies that underpin commercial interest with regard to US & LATAM Functional Shots  market growth
  • US & LATAM functional shots market size at various nodes of market
  • Detailed overview and segmentation of the US & LATAM functional shots market as well as its dynamics in the industry
  • US & LATAM functional shots market size in various regions with promising growth opportunities

US & LATAM Functional Shots Market, by Product

  • Energy
  • Immunity
  • Detox
  • Others

US & LATAM Functional Shots Market, by Distribution Channel

  • Hypermarkets and Supermarkets
  • Convenience Stores
  • Online
  • Others

US & LATAM Functional Shots Market, By Country

  • US
  • Mexico
  • Peru
  • Ecuador
  • Colombia
  • Rest of LATAM

Company Profiles

  • Boise Juice Co.
  • Ethan's
  • Hawaiian OLA
  • KOR SHOTS
  • Lumen
  • LXR Biotech, LLC.
  • Project Juice
  • Sofresco USA
  • SUJA LIFE, LLC
  • Vive-Organic, INC.
 

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

2.           Key Takeaways

3.           Research Methodology

3.1         Scope of the Study

3.2         Research Methodology

3.2.1        Data Collection:

3.2.2        Primary Interviews:

3.2.3        Hypothesis formulation:

3.2.4        Macro-economic factor analysis:

3.2.5        Developing base number:

3.2.6        Data Triangulation:

3.2.7        Country level data:

3.2.8        Assumptions and Limitations:

4.           LATAM Functional Shots Market Overview

4.1         LATAM: Functional Shots Market Analysis and Forecast to 2027

4.1.1        LATAM: Functional Shots Market, by Product

4.1.2        LATAM: Functional Shots Market, by Distribution Channel

4.1.3        LATAM: Functional Shots Market, by Key Country

4.1.3.1          Mexico: Functional Shots Market– Analysis and Forecast to 2027

4.1.3.1.1          Mexico: Functional Shots Market, by Product

4.1.3.1.2          Mexico: Functional Shots Market, by Distribution Channel

4.1.3.2          Peru: Functional Shots Market– Analysis and Forecast to 2027

4.1.3.2.1          Peru: Functional Shots Market, by Product

4.1.3.2.2          Peru: Functional Shots Market, by Distribution Channel

4.1.3.3          Ecuador: Functional Shots Market– Analysis and Forecast to 2027

4.1.3.3.1          Ecuador: Functional Shots Market, by Product

4.1.3.3.2          Ecuador: Functional Shots Market, by Distribution Channel

4.1.3.4          Colombia: Functional Shots Market– Analysis and Forecast to 2027

4.1.3.4.1          Colombia: Functional Shots Market, by Product

4.1.3.4.2          Colombia: Functional Shots Market, by Distribution Channel

4.1.3.5          Rest of LATAM: Functional Shots Market– Analysis and Forecast to 2027

4.1.3.5.1          Rest of LATAM: Functional Shots Market, by Product

4.1.3.5.2          Rest of LATAM: Functional Shots Market, by Distribution Channel

5.           Functional Shots Market– Key Market Dynamics

5.1         Market Drivers

5.1.1        Increase in Health Awareness Among Millennial Population

5.1.2       Rise in Demand for Healthy Hydration

5.2         Market Restraints

5.2.1        Challenges Related To Flavour and Fortification

5.3         Market Opportunities:

5.3.1        New Product Launches

5.4         Future Trends:

5.4.1        Growing Demand for Organic and Plant- Based Functional Shots

5.5         Impact Analysis

6.           Functional Shots: Market Analysis

6.1         US & LATAM: Functional Shots Market Overview

6.2         US: Functional Shots Market Overview

6.2.1        US: Functional Shots Market, by Product

6.2.2        US: Functional Shots Market, by Distribution Channel

6.3         Market Positioning – Key Market Players

7.           US & LATAM Functional Shots Market Analysis – By Product

7.1         Overview

7.2         US & LATAM Functional Shots Market, By Product (2019 and 2027)

7.3         Energy

7.3.1        Overview

7.3.2        Energy : US & LATAM Functional Shots Market Analysis and Forecast to 2027

7.4         Immunity

7.4.1        Overview

7.4.2        Immunity : US & LATAM Functional Shots Market Analysis and Forecast to 2027

7.5         Detox

7.5.1        Overview

7.5.2        Detox : US & LATAM Functional Shots Market Analysis and Forecast to 2027

7.6         Others

7.6.1        Overview

7.6.2        Others: US & LATAM Functional Shots Market Analysis and Forecast to 2027

8.           US & LATAM Functional Shots Market Analysis – By Distribution Channel

8.1         Overview

8.2         US & LATAM Functional Shots Market, By Distribution Channel (2019 and 2027)

8.3         Hypermarkets and Supermarkets

8.3.1        Overview

8.3.2        Hypermarkets and Supermarkets : US & LATAM Functional Shots Market Analysis and Forecast to 2027

8.4         Convenience Stores

8.4.1        Overview

8.4.2        Convenience Stores : US & LATAM Functional Shots Market – Market Analysis and Forecast to 2027

8.5         Online

8.5.1        Online : US & LATAM Functional Shots Market Analysis and Forecast to 2027

8.6         Others

8.6.1        Others: US & LATAM Functional Shots Market Analysis and Forecast to 2027

9.           Impact of COVID-19 Pandemic on US & LATAM Functional Shots Market

9.1         Overview

9.1.1        US & Latin America : Impact Assessment of COVID-19 Pandemic

10.        Industry Landscape

10.1      Product Development

10.2      Partnership

11.        Key Company Profiles

11.1      Boise Juice Co.

11.1.1     Key Facts

11.1.2     Business Description

11.1.3     Products and Services

11.1.4     Financial Overview

11.1.5     SWOT Analysis

11.1.6     Key Developments

11.2      Ethan's

11.2.1     Key Facts

11.2.2     Business Description

11.2.2.1       Products and Services

11.2.3     Financial Overview

11.2.4     SWOT Analysis

11.3      Hawaiian OLA

11.3.1     Key Facts

11.3.2     Business Description

11.3.3     Products and Services

11.3.4     Financial Overview

11.3.5     SWOT Analysis

11.4      KOR SHOTS

11.4.1     Key Facts

11.4.2     Business Description

11.4.3     Products and Services

11.4.4     Financial Overview

11.4.5     SWOT Analysis

11.5      Lumen

11.5.1     Key Facts

11.5.2     Business Description

11.5.2.1       Products and Services

11.5.3     Financial Overview

11.5.4     SWOT Analysis

11.6      LXR Biotech, LLC.

11.6.1     Key Facts

11.6.2     Business Description

11.6.2.1       Products and Services

11.6.3     Financial Overview

11.6.4     SWOT Analysis

11.7      Project Juice

11.7.1     Key Facts

11.7.2     Business Description

11.7.2.1       Products and Services

11.7.3     Financial Overview

11.7.4     SWOT Analysis

11.8      Sofresco USA

11.8.1     Key Facts

11.8.2     Business Description

11.8.2.1       Products and Services

11.8.3     Financial Overview

11.8.4     SWOT Analysis

11.8.5     Key Developments

11.9      SUJA LIFE, LLC

11.9.1     Key Facts

11.9.2     Business Description

11.9.2.1       Products and Services

11.9.3     SWOT Analysis

11.10   Vive-Organic, INC.

11.10.1  Key Facts

11.10.2  Business Description

11.10.2.1    Products and Services

11.10.3  Financial Overview

11.10.4  SWOT Analysis

11.10.5  Key Developments

12.        Appendix

12.1      About The Insight Partners

12.2      Glossary of Terms

 


LIST OF TABLES

Table 1.             LATAM Functional Shots Market – Volume and Forecast to 2027 (Million Units)

Table 2.             LATAM Functional Shots Market – Revenue and Forecast to 2027 (US$ Mn)

Table 3.             LATAM Functional Shots Market, by Product– Volume and Forecast to 2027 (Million Units)

Table 4.             LATAM Functional Shots Market, by Product– Revenue and Forecast to 2027 (US$ Mn)

Table 5.             LATAM Functional Shots Market, by Distribution Channel– Volume and Forecast to 2027 (Million Units)

Table 6.             LATAM Functional Shots Market, by Distribution Channel– Revenue and Forecast to 2027 (US$ Mn)

Table 7.             Mexico Functional Shots Market, by Product – Volume and Forecast to 2027 (Million Units)

Table 8.             Mexico Functional Shots Market, by Product – Revenue and Forecast to 2027 (US$ Mn)

Table 9.             Mexico Functional Shots Market, by Distribution Channel – Volume and Forecast to 2027 (Million Units)

Table 10.          Mexico Functional Shots Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Mn)

Table 11.          Peru Functional Shots Market, by Product – Volume and Forecast to 2027 (Million Units)

Table 12.          Peru Functional Shots Market, by Product – Revenue and Forecast to 2027 (US$ Mn)

Table 13.          Peru Functional Shots Market, by Distribution Channel – Volume and Forecast to 2027 (Million Units)

Table 14.          Peru Functional Shots Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Mn)

Table 15.          Ecuador Functional Shots Market, by Product – Volume and Forecast to 2027 (Million Units)

Table 16.          Ecuador Functional Shots Market, by Product – Revenue and Forecast to 2027 (US$ Mn)

Table 17.          Ecuador Functional Shots Market, by Distribution Channel – Volume and Forecast to 2027 (Million Units)

Table 18.          Ecuador Functional Shots Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Mn)

Table 19.          Colombia Functional Shots Market, by Product – Volume and Forecast to 2027 (Million Units)

Table 20.          Colombia Functional Shots Market, by Product – Revenue and Forecast to 2027 (US$ Mn)

Table 21.          Colombia Functional Shots Market, by Distribution Channel – Volume and Forecast to 2027 (Million Units)

Table 22.          Colombia Functional Shots Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Mn)

Table 23.          Rest of LATAM Functional Shots Market, by Product – Volume and Forecast to 2027 (Million Units)

Table 24.          Rest of LATAM Functional Shots Market, by Product – Revenue and Forecast to 2027 (US$ Mn)

Table 25.          Rest of LATAM Functional Shots Market, by Distribution Channel – Volume and Forecast to 2027 (Million Units)

Table 26.          Rest of LATAM Functional Shots Market, by Distribution Channel – Revenue and Forecast to 2027 (US$ Mn)

Table 27.          US & LATAM: Functional Shots Market – Volume and Forecast to 2027 (Million Units)

Table 28.          US & LATAM: Functional Shots Market – Revenue and Forecast to 2027 (US$ Mn)

Table 29.          US Functional Shots Market – Volume and Forecast to 2027 (Million Units)

Table 30.          US Functional Shots Market – Revenue and Forecast to 2027 (US$ Mn)

Table 31.          US Functional Shots Market, by Product– Volume and Forecast to 2027 (Million Units)

Table 32.          US Functional Shots Market, by Product– Revenue and Forecast to 2027 (US$ Mn)

Table 33.          US Functional Shots Market, by Distribution Channel– Volume and Forecast to 2027 (Million Units)

Table 34.          US Functional Shots Market, by Distribution Channel– Revenue and Forecast to 2027 (US$ Mn)

Table 35.          Glossary of Terms, Functional Shots Market

 


LIST OF FIGURES

Figure 1.           Functional Shots Market Segmentation

Figure 2.           Functional Shots Market Segmentation – By Geography

Figure 3.           US & LATAM Functional Shots Market Overview

Figure 4.           Energy Segment Held Largest Share of US & LATAM Functional Shots Market

Figure 5.           US is Expected to Show Remarkable Traction During the Forecast Period

Figure 6.           US & LATAM Functional Shots Market, Industry Landscape

Figure 7.           LATAM: Functional Shots Market– Volume and Forecast to 2027 (Million Units)

Figure 8.           LATAM: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)

Figure 9.           LATAM: Functional Shots Market Revenue Share, by Key Country (2019 and 2027)

Figure 10.        Mexico: Functional Shots Market– Volume and Forecast to 2027 (Million Units)

Figure 11.        Mexico: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)

Figure 12.        Peru: Functional Shots Market– Volume and Forecast to 2027 (Million Units)

Figure 13.        Peru: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)

Figure 14.        Ecuador: Functional Shots Market– Volume and Forecast to 2027 (Million Units)

Figure 15.        Ecuador: Functional Shots Market–Revenue and Forecast to 2027 (US$ Mn)

Figure 16.        Colombia: Functional Shots Market– Volume and Forecast to 2027 (Million Units)

Figure 17.        Colombia: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)

Figure 18.        Rest of LATAM: Functional Shots Market– Volume and Forecast to 2027 (Million Units)

Figure 19.        Rest of LATAM: Functional Shots Market–Revenue and Forecast to 2027 (US$ Mn)

Figure 20.        Impact Analysis of Drivers And Restraints

Figure 21.        US & LATAM: Functional Shots Market– Volume and Forecast to 2027 (Million Units)

Figure 22.        US & LATAM: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)

Figure 23.        US: Functional Shots Market– Volume and Forecast to 2027 (Million Units)

Figure 24.        US: Functional Shots Market– Revenue and Forecast to 2027 (US$ Mn)

Figure 25.        US & LATAM Functional Shots Market Revenue Share, By Product (2019 and 2027)

Figure 26.        Energy : US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)

Figure 27.        Energy : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)

Figure 28.        Immunity : US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)

Figure 29.        Immunity : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)

Figure 30.        Detox : US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)

Figure 31.        Detox : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)

Figure 32.        Others: US & LATAM Functional Shots Market –Volume And Forecast To 2027 (Million Units)

Figure 33.        Others : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)

Figure 34.        US & LATAM Functional Shots Market Revenue Share, By Distribution Channel (2019 and 2027)

Figure 35.        Hypermarkets and Supermarkets : US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)

Figure 36.        Hypermarkets and Supermarkets : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)

Figure 37.        Convenience Stores : US & LATAM Functional Shots Market –Volume And Forecast To 2027 (Million Units)

Figure 38.        Convenience Stores : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)

Figure 39.        Online : US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)

Figure 40.        Online : US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)

Figure 41.        Others: US & LATAM Functional Shots Market – Volume And Forecast To 2027 (Million Units)

Figure 42.        Others: US & LATAM Functional Shots Market – Revenue And Forecast To 2027 (US$ Mn)

Figure 43.        Impact of COVID-19 Pandemic in US & LATAM Market

The List of Companies - US & LATAM Functional Shots Market

  1. Boise Juice Co.
  2. Ethan's
  3. Hawaiian OLA
  4. KOR SHOTS
  5. Lumen
  6. LXR Biotech, LLC.
  7. Project Juice
  8. Sofresco USA
  9. SUJA LIFE, LLC
  10. Vive-Organic, INC.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the US & LATAM functional shots market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the US & LATAM functional shots market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth US & LATAM market trends and outlook coupled with the factors driving the US & LATAM functional shots market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

 

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