Market Overview:
The beauty drinks market is showing incremental growth owing to a large number of health advantages associated with it. Strong desire for an attractive appearance, changing attitude to health and diet, convenience in purchasing ready to drink options, and ever-changing beauty trends have created massive demand for beauty drinks worldwide. Exposure to pollution coupled with hectic schedules of people has resulted in early aging among women across the globe, which has escalated the demand for beauty drinks. Beauty drinks are loaded with amino acids, minerals, collagen, vitamins and antioxidants and increasing awareness among consumers regarding the health the benefits of such beverages add to the growth of these drinks. The global beauty drinks market is expanding rapidly and is projected to exhibit remarkable growth over the forecast period 2017-2023.
A wide range of available beauty drinks online, flourishing beauty and fashion industry, the rise in disposable income of consumers, preference of consumers for functional drinks over other beverages are other factors which are aiding the growth of the market. Furthermore, the beverage market too is experiencing massive growth which is reflecting positively on the beauty drinks market. Rise in geriatric population, increasing prevalence of skin problems, side effects from beauty devices and products have also favored the growth of the market for beauty drinks. Beauty drinks are niche products and lack of awareness regarding them act as growth barrier to the market. The high cost of ingredients, low-profit margins, lack of knowledge of manufacturers and distributors, low public confidence in beauty drinks and unaffordability are major restraining factors. Beauty drinks are not widely available and are inaccessible to most consumers. Additionally, the efficacy of beauty drinks has not been proven scientifically so far.
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Leading Key Players:
The Global Beauty Drinks Market is a niche market, and there is intense competition within the market. Market participants compete on the basis of ingredients, pricing, and availability. The market participants are keen on extending their product line and hence are investing heavily in product development.
The eminent players operating in the market include AMC Grupo Alimentación, Fresco y Zumos, SA (Spain), Hangzhou Nutrition Biotechnology Co., Ltd. (China), Juice Generation (France), Kinohimitsu (Taiwan), Asterism Healthcare plus, Inc. (U.S.), Coca-Cola Company. (U.S.), and Groupon Inc. (U.S.).
Industry Trends/Updates:
In May 2018, functional beverage brand Koios expanded its product line by launching four new flavors of its nutritional drinks range. The new flavors include the fresh pear guava, pomegranate acai, peach mango and blood orange and contain amino acids which have a calming effect on the brain.
Segmentation:
The global beauty drinks market has been segmented based on product type, ingredients, claim, distribution channel and demography. By product type, the market has been segmented into natural drinks and chemical/artificial drinks. By ingredients, the market has been segmented into vitamins and minerals, fruit extracts, coenzymes, proteins and others. By claim, the market has been segmented into Anti-Ageing, Detoxifier, Energizers, and Others. By distribution channel, the market has been segmented Store-Based, and Non-Store Based. By demography, the market has been segmented into teenagers, younger women, and mature women.
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Regional Analysis:
The key markets of the global beauty drinks market include North America, Europe, Asia-Pacific, and Rest of the World. North America and Europe dominate the beauty drinks market owing to rising pool of health-conscious population and demand for functional beverage and energy booster drinks in the region. North America is accountable for over 25% of the market share. Asia-pacific region is growing at the fastest rate which can be attributed to changing lifestyle and growing consciousness for health and beauty in developing nations in the region. Beauty drinks generally consist of collagen, which is a relatively unknown ingredient in Europe, so manufacturing likely takes place in Asia-Pacific region. India and China hold lucrative growth opportunities during the forecast period.
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