The experts at American International Foods, Inc. have unveiled their annual projections for the top beverage trends anticipated in 2024. The functional beverage industry in the United States continues to experience robust growth, fueled by the introduction of new and innovative products.
The North America Functional Beverage Market is projected to grow from $50.70 billion in 2023 to approximately $70.78 billion by 2028, reflecting a Compound Annual Growth Rate (CAGR) of 6.90% during the forecast period from 2023 to 2028.
As we move into 2024, the beverage industry is expected to maintain its trajectory of offering consumers more than just basic hydration. The latest trends indicate a strong consumer preference for beverages that deliver additional benefits such as energy, immune support, and the inclusion of clean, simple, and easily understood ingredients. Consumers are increasingly looking for high-quality ingredients with functional benefits while steering clear of artificial additives, flavors, and sweeteners.
According to T. Hasegawa’s 2023 Food and Beverage Flavor Trends Report, 42% of U.S. adults prefer their food and drink to contribute to both their mental and physical health. Functional beverages, ranging from energy-boosting concoctions to relaxation aids and immune system supporters, address various health concerns while providing a refreshing and convenient way to consume beneficial ingredients.
In 2023, functional beverages, such as energy drinks and sports drinks, dominated the beverage industry, growing consistently since 2020. Energy drinks, holding a significant one-third share, generated $16 billion in sales, followed by sports drinks at just over $12 billion.
Mitch Gould, founder and CEO of Nutritional Products International (NPI), has a proven track record of bringing quality nutritional and consumer products to retail markets, from concept to shelf.
Notably, Gould played a pivotal role in the successful launch of Steven Seagal’s energy drink, Lightning Bolt, overseeing the entire project, including manufacturing, logistics, distribution, advertising, sales, and marketing on a global level. Gould’s deep industry knowledge and extensive network of contacts have enabled him to achieve rapid success in the functional beverage sector.
“I propelled Lightning Bolt into Walmart nationwide and 7-11 from concept to shelf in record time,” said Gould.
Nutritional Products International boasts over 100 years of combined experience in retail distribution, providing a proven approach for product manufacturers worldwide. The company’s deep-rooted relationships with key buyers across the nation facilitate entry into major retail accounts, including Amazon, Target, Walmart, Home Depot, Lowe’s, Walgreens, GNC, CVS, Rite Aid, and Costco.
For more information, visit www.nutricompany.com.
MORE ON NUTRITIONAL PRODUCTS INTERNATIONAL AND ITS FOUNDER
NPI is a privately held company specializing in the retail distribution of nutraceuticals, dietary supplements, functional beverages, and skin-care products. NPI offers a unique, proven approach for product manufacturers worldwide seeking to launch or expand their products’ distribution in the U.S. retail market.
Gould, known as a global marketing guru, also has represented icons from the sports and entertainment worlds such as Steven Seagal, Hulk Hogan, Ronnie Coleman, Roberto Clemente Jr., Chuck Liddell, and Wayne Gretzky.
