- Market report projects global functional beverages market will increase from $125 billion in 2020 to $216 billion by 2028
- A functional beverage is a nonalcoholic beverage formulated to have an added purpose
- The Happy Company’s Happy Coffees and nootropic beverages are developed to assist with weight loss, energy, focus, happiness and more
The global functional beverages market is projected to see consistent growth in the next several years, according to a recent Fior Market report, which forecast an increase from $125 billion in 2020 to an estimated $216 billion by 2028 (https://ibn.fm/iqwWA). This growth bodes well for Sharing Services Global (OTCQB: SHRG) and its subsidiary the Happy Co., which offers a line of Happy Coffees along with other nootropic beverages.
“The functional drinks industry consists of sales of functional beverages by nonalcoholic beverage producers (organizations, individual dealers and partnerships),” the Fior report stated. “A functional beverage is a nonalcoholic beverage that has been formulated to have an added purpose, usually in the form of a health aid or performance enhancer. Minerals, vitamins, probiotics, dietary fibers and added fruits are among the nontraditional ingredients used in functional drinks.”
The report noted that factors driving the market are increased demand for enhanced beverage products, growing consumer awareness of health, and key players in the industry focusing on innovation and development. “To aid the growth of the functional drinks industry, major players are pursuing numerous innovations such as the introduction of new brands, the opening of new research and development centers, and the construction of new plants,” noted the report.
Drinks formulated to increase energy and assist with weight loss are among those impacting the market, with the energy drinks segment dominating the market and holding the largest market share of 20.9% in the year 2020,” reported Fior. “North America currently has the highest market share in the functional beverage market. It is predicted to retain its dominance for the duration of the forecasted period.”
The Happy Company’s Happy Coffees and nootropic beverages are carefully formulated to assist with weight loss, energy (without the caffeine), focus, happiness and more (https://ibn.fm/D9mzF). “Nootropicsis the science of cognitive enhancement,” the company states. “So, whether it’s happiness, intelligence, creativity, focus, memory, energy, stress reduction, or self-control, our research & development team is working on new formulas to make your life better.”
The Happy Co. is a leading producer and distributor of nootropic, functional beverage products with a focus on health and wellness. The company launched in February 2021 with an established foundation of distinctive nootropic products. The company offers functional beverages, capsules, patches and creams that elevate mood, boost energy, reduce stress, enhance sleep, increase muscles, minimize fat and tighten skin. Happy Company products are nootropics, or nutraceutical formulations derived from food sources that provide health benefits above and beyond basic nutritional value.
A publicly traded company specializing in the direct-sales sector, Sharing Services Global Corporation is dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies. The Sharing Services combined platform leverages the capabilities and expertise of various companies that market and sell products direct to the consumer. Its primary division includes Elevacity U.S. LLC, the parent company of the Happy Co. and a sales and marketing company based on utilization of independent contractors as the sales force.
NOTE TO INVESTORS: The latest news and updates relating to SHRG are available in the company’s newsroom at http://ibn.fm/SHRG
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