Pune, India, Dec. 07, 2020 (GLOBE NEWSWIRE) — The United Kingdom nootropic functional beverages market size is expected to hit USD 260.2 million by 2027 while exhibiting a CAGR of 10.2% between 2020 and 2027. This is attributable to the increasing prevalence of Alzheimer’s and the growing demand for smart drugs that are propelling the demand for healthy functional drinks across the segment in the country. This information is published by Fortune Business Insights, in its latest report, titled, “U.K. Nootropic Functional Beverages Market Size, Share & COVID-19 Impact Analysis, By Distribution Channel (Supermarkets/ Hypermarkets, Pharmacy Stores, Specialty Retailers, Online Channels, Others), and Country Forecast, 2020-2027.” The report further observes that the market stood at USD 126.9 million in 2019 and is projected to showcase significant growth during the forecast period.
COVID-19 Impact: Disruption in Supply Chain to Hamper Procurement of Raw Materials
The closure of several manufacturing facilities across the U.K. has led to significant disruption in the supply chain of several industries. The food & beverage industry is also reeling to unprecedented economic loss due to the suspension of services. This is likely to affect the procurement of raw materials by the manufacturers to develop innovative health drinks in the U.K. nootropic functional beverage segment. However, proactive government efforts to bring back the economy on track will favor the growth of the market in the country.
The U.K. nootropic functional beverages segment is experiencing massive demand owing to the several health benefits provided by the nootropic ingredients in the country. These drinks have immunity-boosting properties, and thereby, consumed by a large section of people that include children, working professionals, and the elderly.
Get Sample PDF Brochure:
List of Top Companies Proliferating in the U.K. Nootropic Functional Beverages Market:
- Brite Drinks (London, England)
- Raylex Brands (London, England)
- Kimera Koffee (Florida, United States)
- LIFEAID Beverage Company LLC (California, United States)
- TruBrain (California, United States)
- Onnit (Texas, United States)
- Neurohacker Collective LLC (California, United States)
- Onnor Ltd (London, United Kingdom)
- Neurobrands LLC (California, United States)
- Vite Naturals Ltd. (London, United Kingdom)
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will affect market growth. The report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes a competitive landscape that involves leading companies. It further mentions the strategies adopted by them, such as to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market. Moreover, the research analyst has adopted several research methodologies such as PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth between 2020 and 2027.
Increasing Prevalence of Alzheimer to Promote Market Growth
According to research conducted by the Alzheimer’s Society in 2019, about 8,50,000 people in the U.K. were found to be suffering from dementia. This results in 1 for every 14 people suffering from the disorder in the country. The increasing prevalence of Alzheimer’s disease is expected to propel the demand for innovative health drinks that aid in boosting the mental health of the people across the U.K. nootropic functional beverages category. Additionally, the growing demand for smart drugs owing to the hectic lifestyle of the working professionals is likely to favor the U.K. nootropic functional beverages market growth in the forthcoming years.
Supermarket/Hypermarket Segment to Remain Dominant
The supermarket/hypermarket segment, based on the distribution channels, is expected to showcase significant growth during the forecast period. This is ascribable to factors such as several cash-backs and discounts offered by the stores in the nootropic functional beverages categories.
The United Kingdom nootropic functional beverages market stood at USD 126.9 million in 2019 and is likely to showcase considerable growth backed by the increasing spending on healthcare products in the country between 2020 and 2027.
Prominent Companies Focus on Acquisition to Expand Their Product Portfolio and Boost Sales Revenue
The U.K. nootropic functional beverages market is experiencing significant competition from the small, medium, and large companies that are striving to maintain their dominance. The large companies are focusing on acquiring other small companies to expand their footprint in the nootropic functional beverages segment. In addition to this, other key players are adopting strategies such as the introduction of new products, facility expansion, and collaboration that will bode well for market growth.
Key Industry Development:
July 2019 – Raylex Brands announced the acquisition of Wow Food & Drinks Ltd. According to the company, the acquisition is aimed at strengthening its position in the natural and nootropic beverages category. Additionally, the company is focused on developing several plant-based beverages to cater to the vegan population.
Browse Detailed Summary of Research Report with TOC:
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent Market
- Industry SWOT Analysis
- Supply Chain Analysis
- Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis (in relation to COVID-19)
- 4.5.1 Impact of COVID-19
- 4.5.2 Supply Chain Challenges
- 4.5.3 Potential Opportunities due to COVID-19
- United Kingdom’s Nootropic Functional Beverages Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Distribution Channel (Value)
- Pharmacy Stores
- Specialty Retailers
- Online Channels
- By Distribution Channel (Value)
Get your Customized Research Report:
Have a Look at Related Research Insights:
Cheese Market Size, Share & COVID-19 Impact Analysis, By Source (Animal-based and Plant-based), Product Type (Cheddar, Mozzarella, Parmesan, Feta, and Others), Type (Processed, Natural, Block, Spreadable, and Hard and Soft Cheese), Distribution Channel (Supermarkets/ Hypermarkets, Specialty Stores, Convenience Stores, and Online Retail), and Regional Forecast, 2020-2027
Pisco Market Size, Share & COVID-19 Impact Analysis, By Origin (Peruvian and Chilean), Type (Puro, Acholado, and Others), and Regional Forecast, 2020 – 2027
Olive Oil Market Size, Share & COVID-19 Impact Analysis, By Type (Refined Olive Oil, Virgin Olive Oil, Olive Pomace Oil, and Others), End-user (Household/Retail, Food Service/HoReCa, Food Manufacturing, and Others), and Regional Forecast, 2020 – 2027
Frozen Food Market Size, Share & COVID-19 Impact Analysis, By Type (Frozen Vegetables and Fruits, Frozen Ready Meals, Frozen Pizza, Frozen Seafood, Frozen Meat Products, Frozen Potato Products, Frozen Baked Products, and Others), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, and Online Retail), and Regional Forecast, 2020-2027
Vitamins and Supplements Market Size, Share & COVID-19 Impact Analysis, By Type (Multivitamins, Calcium Supplements, Pediatric Supplements, and Others), Form (Capsule, Tablet, Powder, and Liquid & Gel), Distribution Channel (Supermarkets, Convenience Stores, Specialty Stores, and Online Retails), and Regional Forecast, 2020-2027
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Read Press Release: