While fortified/functional beverages experienced a slowdown in both retail volume and current value growth in 2020 compared to 2019, it continued to record double-digit growth, aided by a strong performance in FF energy drinks and FF sports drinks. Due to its size, FF energy drinks continued to shape the overall development of fortified/functional beverages in Norway.
Coca-Cola European Partners Norge AS remained the clear leader in 2020, benefiting from its strong and diversified portfolio of FF energy drinks brands, including Burn, Monster Energy and the more recent addition of Coca-Cola Energy. The company also consolidated its lead in FF sports drinks with the launch of Monster Hydro towards the end of the review period.
The largest category of FF energy drinks continued to benefit from brand diversification and new product launches in 2020. Players and their brands remained well diversified despite the increasingly crowded nature of the category.
Fortified/functional beverages is expected to record strong but slower average retail value growth at constant 2020 prices over the forecast period compared to the review period. FF energy drinks is set to remain the bright spot due to an enduring appeal among Norwegian consumers, for whom consumption occasions include physical activity, working, studying and gaming.
New product development within fortified/functional beverages is set to be driven by the dual trends of health and functionality over the forecast period. In particular, consumers’ rapid switch towards reduced sugar products is expected to remain a key element within FF energy drinks.
FF bottled water is set to record stronger average value growth over the forecast period compared to the review period, although a lack of competition is set to limit rapid development. However, FF bottled water is set to benefit from its perception as a healthier option relative to other soft drinks.
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Understand the latest market trends and future growth opportunities for the Fortified/Functional Beverages industry in Norway with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Fortified/Functional Beverages research and analysis database.
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