U.K. Nootropic Functional Beverages Market to Reach $260.2 Mn by 2027; Increasing Rate of Elderly Population to Stimulate Growth

The U.K. nootropic functional beverages market size is expected to reach USD 260.2 million by 2027 backed by the increasing rate of the elderly population that is likely to drive the market segment in the country during the forecast period. 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.”, published this information, and further mentions that the market stood at USD 126.9 million and is projected to exhibit a CAGR of 10.2% between 2020 and 2027.

LIFEAID Beverage Co. Launches New Zero-Sugar FOCUSAID to Amplify its Market Position

According to the data by the Medical Research Council, about 1 in every 16 people in the U.K. suffer from diabetes. The increasing prevalence of diabetes is propelling the manufacturers to develop innovative nootropic functional beverages in the U.K. For instance, in March 2020, LIFEAID Beverage Co. unveiled the natural sugar-free version of its popular drinks, FOCUSAID ZERO SUGAR. The company reports that the drink contains their proprietary blend of nootropics, along with 100 mg of natural caffeine. Additionally, it retains its sweetness due to monk fruit and includes 5% of calories per can. Such innovations in the U.K. nootropic functional beverages segment is likely to propel the product demand in the country.

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https://www.fortunebusinessinsights.com/u-k-nootropic-functional-beverages-market-104395

Increasing Rate of Elderly Population to Augment Growth

The U.K. nootropic functional beverages segment is gaining traction owing to the high demand for functional drinks for the elderly population. According to the data by the Age UK, there are around 11,989,322 people aged 65 and above in the country. The these functional beverages are devoid of any side-effects and provide several health benefits such as strong immunity when consumed.

The presence of a large elderly population presents a lucrative opportunity for these type of beverages manufacturers to develop innovative products that will drive the U.K. nootropic functional beverages market during the forecast period.

Major Companies Introducing New Products to Maintain Their Dominance

The U.K. market for nootropic functional beverages is fragmented by the presence of major companies such as Raylex Ltd., Brite Drinks, and TruBrain, among others. These companies are focusing on developing and innovating drinks in these beverages category to cater to the growing demand amongst consumers. Adoption of strategies such as partnership, merger and acquisition, and collaboration by other key players is further likely to contribute to the growth of the market in the country.

Industry Development

• July 2020 – Neurobrands LLC unveiled its new nootropic drink mixes that have been formulated with the highest quality ingredients sourced from sustainable products. According to the company, the drink mixes are lactose-free, gluten-free, vegan, and certified OU Kosher. 

List of the Companies Proliferating in the 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)

Further Report Findings:

• The U.K. nootropic functional beverages market generated USD 126.9 million in 2019 and is likely to experience significant growth backed by the increasing spending on health benefiting products across the U.K. Additionally, the rising rate of obesity amongst the young children will propel the demand for innovative nootropic functional beverages in the country between 2020 and 2027.  
• The supermarkets/hypermarkets segment, based on the distribution channel, is anticipated to showcase an exponential growth during the forecast period. This is ascribable to factors such as various discounts offered by the stores and the availability of varied types of drinks in the segment.
• The online channels segment, based on distribution channels, is expected to experience significant growth backed by the hectic and busy schedules of the working professionals that are enabling them to purchase these functional beverages through online platforms.

Table of Segmentation: