DUBLIN, October 3, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "China's Functional Drink Industry Overview, 2017-2021" report to their offering.
The sales revenue of functional drinks increased from CNY 25.71 billion in 2011 to CNY 60.6 billion in 2015 with the CAGR of 23.9%, far exceeding the growth rate of the market size of the soft drink industry during the corresponding period.
In China, the competition in the functional drink industry is less intense than other soft drink varieties. According to the report, the aggregate market share of the top 5 functional drink manufacturers in China was about 63.5% of the total with a high market concentration rate, of which the market share of Red Bull and Danone Mizone was over half of the total in 2015.
In terms of age, major consumers of functional drinks are young people such as children, students and office workers for its energy supplement. In terms of gender, males consume more functional drinks due to their preference for sports and staying up late in China. In contrast, female consumers prefer soft drinks such as fruit juice, vegetable protein beverages or bottled water with less sport time.
In recent years, the resident consumption ability improves especially in the third and fourth tier cities as well as rural areas, leading to the growing beverage industry. The demand for functional drinks will continue increasing with the improvement of resident health awareness. Existing products are small in varieties in the functional drink market mainly including those adding vitamin and taurine with high retail prices while there are less international popular varieties.
Therefore, opportunities exist for new functional drink manufacturers in segment varieties and regional markets. The annual average consumption volume of functional drinks was less than 3 litres per capita in China, far inferior to the global level of 7 litres. This means that functional drink enterprises need to promote the marketing for more understanding and popularity among consumers and larger consumption space of functional drinks.
Through this report, readers can acquire the following information:
For more information about this report visit http://www.researchandmarkets.com/research/qzjsl2/chinas
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SOURCE Research and Markets