You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text.

DUBLIN, Jan. 11, 2021 /PRNewswire/ -- The "Functional Beverages Global Market Opportunities and Strategies to 2030: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering. Functional Beverages Global Market Opportunities and Strategies to 2030: COVID-19 Growth and Change provides the strategists, marketers and senior management with the critical information they need to assess the global functional beverages market. This report describes and evaluates the global functional services market. It covers 2015 to 2019, termed the historic period, and 2019 to 2023 termed the forecast period, along with further forecasts for the periods 2023-2025 and 2025-2030.The global functional beverages market reached a value of nearly $128,660 million in 2019, having increased at a compound annual growth rate (CAGR) of 4.6% since 2015. The market is expected to decrease from $128,660 million in 2019 to $125,390 million in 2020 at a rate of -2.5%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8.07% from 2021 and reach $158,280 million in 2023. The energy drinks market was the largest segment of the functional beverages market segmented by type, accounting for 24.8% of the total in 2019. Going forward, energy drinks segment is expected to be the fastest growing segment in the functional beverages market, at a CAGR of 9.0%. The functional beverages market is also segmented by function into health & wellness; and weight management. The health & wellness segment was the largest segment of the functional beverages market segmented by function, accounting for 80.7% of the total in 2019. Going forward, health & wellness segment is expected to be the fastest growing segment in the functional beverages market, at a CAGR of 7.6%. The functional beverages market is also segmented by distribution channel into brick and mortar; specialty foodservice stores; and online. The brick and mortar segment was the largest segment of the functional beverages market segmented by function, accounting for 75.1% of the total in 2019. Going forward, online segment is expected to be the fastest growing segment in the functional beverages market, at a CAGR of 18.6%. The coronavirus outbreak has given an positive impact on the global functional beverages market The disease has caused elevated health consciousness among consumers, who are increasingly look for healthy alternatives in food and beverages to boost immunity and decrease chances of contracting the virus. The demand for functional beverages has increased since the pandemic began as they offer high nutritional and health and wellness value. Substituting high sugar drinks and carbonated drinks with functional beverages has become a 'health trend' in 2020, and is viewed as a precautionary step towards curbing the effects of the virus. However, low sales from the off premise consumption channels such as restaurants impacted the overall sales of the market. The functional beverages market is slightly concentrated, with a small number of large players holding significant market share. The top ten competitors in the market made up to 43.44% of the total market in 2019. Major players in the market include The Coca-Cola Company, PepsiCo Inc., Nestle S.A, Danone and Red Bull GmbH.The top opportunities in the functional beverages market segmented by type will arise in the energy drinks market segment, which will gain $9,220.7 million of global annual sales by 2023. The functional beverages market size will gain the most in the China at $8,192.2 million. Market-trend-based strategies for functional beverages market include investing in natural botanicals infused drinks, offering relaxation drinks to consumers to capture the market and increase revenues, offering CBD-infused drinks to attract more customers, investing in manufacturing protein-based beverages to attract fitness enthusiasts and health conscious customers, offering dairy-based functional beverages to cater to the needs of consumers who prefer natural ingredients over other elements in their drinks and introducing new vegan or plant-based portfolio of functional drinks in order to attack health-conscious consumers.To take advantage of the opportunities, the publisher recommends companies should focus on providing immunity boosting beverages during covid-19, natural botanicals infused drinks, CBD-infused functional drinks, strategic acquisitions and product portfolio development, healthy hydration drinks, use of low-calorie natural sweeteners, competitive pricing, expanding in emerging markets, set up authorized distributors and sales representatives, leverage e-commerce to maximize reach and revenues, increase adoption of internet and social media, use direct-to-consumer (DTC) advertising, participate in trade shows and events, and targeting millennials.Key Topics Covered: 1. Functional Beverages Market Executive Summary2. Table of Contents3. List of Figures4. List of Tables5. Report Structure6. Introduction6.1.1. Segmentation by Geography6.1.2. Segmentation by Function6.1.3. Segmentation by Distribution Channel7. Functional Beverages Market Characteristics7.1. Market Definition7.2. Market Segmentation by Type7.2.1. Energy Drinks7.2.2. Sports Drinks7.2.3. Nutraceutical Drinks7.2.4. Dairy-Based Beverages7.2.5. Juices7.2.6. Enhanced Water7.2.7. Others7.3. Market Segmentation by Function7.3.1. Health and Wellness7.3.2. Weight Management7.4. Market Segmentation by Distribution Channel7.4.1. Brick and Mortar7.4.2. Specialty Foodservice Stores7.4.3. Online8. Functional Beverages Market Customer Information8.1. Immune System Support is the Main Driver Behind Purchase of Functional Beverages8.2. Many Consumers Surveyed Showed Keen Interest in Functional Beverages8.3. There Has Been Rapid Growth in Revenues of Manufacturers Who Already Exist in the Functional Beverage Market8.4. Protein is the most Favored Ingredient Among the Young Population, an Age Group Which Has Been Increasingly Driving the Functional Beverages Market9. Functional Beverages Market Trends and Strategies9.1. Natural Botanicals Infused Drinks9.2. Relaxation Drinks9.3. CBD-Infused Functional Drinks9.4. Protein-Based Functional Beverages9.5. Dairy in Functional Beverages9.6. Vegan/ Plant-Based Functional Beverages9.7. Healthy Hydration Drinks9.8. Introduction of Nootropic Drinks (Brain Health)9.9. Use of Low-calorie Natural Sweeteners9.10. Strategic Acquisitions and Product Portfolio Development9.11. Expanding Geographical Presence10. COVID Impact on the Functional Beverages Market10.1. Surveys on COVID Impact on Consumers11. Global Functional Beverages Market Size and Growth11.1. Market Size11.2. Historic Market Growth, 2015 - 2019, Value ($ Million)11.2.1. Drivers of the Market 2015 - 201911.2.2. Restraints on the Market 2015 - 201911.3. Forecast Market Growth, 2019 - 2023, 2025F, 2030F Value ($ Million)11.3.1. Drivers of the Market 2019 - 202311.3.2. Restraints on the Market 2019 - 202312. Global Functional Beverages Market Segmentation12.1. Global Functional Beverages Market, Segmentation by Type, Historic and Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Million)12.1.1. Energy Drinks12.1.2. Dairy-based Beverages12.1.3. Sports Drinks12.1.4. Enhanced Water12.1.5. Nutraceutical Drinks12.1.6. Juices12.1.7. Others12.2. Global Functional Beverages Market, Segmentation by Function, Historic and Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Million)12.2.1. Health & Wellness12.2.2. Weight Management12.3. Global Functional Beverages Market, Segmentation by Distribution Channel, Historic and Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Million)12.3.1. Brick and Mortar12.3.2. Specialty Foodservice Stores13. Functional Beverages Market, Regional and Country Analysis13.1. Global Functional Beverages Market, by Region, Historic and Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Million)13.2. Global Functional Beverages Market, by Country, Historic and Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Million)Companies Mentioned Abbott Amul Asahi Soft Drinks Co Ltd Beijing Huiyuan Food and Beverage Co., Ltd Beverage Industrial Co., Ltd Britannia Industries Ltd Campbell Soup Company China Haisheng Juice Holdings Co., Ltd Dabur Dali Foods Group Co., Ltd Danone Dr. Pepper Snapple Group Eko Vit Sp zoo Fonterra Co-operative Group Hangzhou Wahaha Group Co., Ltd HUL Kraft Heinz Company Mondelez International Inc. Monster Beverage Corporation Nestle S.A Nongfu Spring Otsuka Holdings Co Ltd PepsiCo Inc. Red Bull GmbH Red Devil NV Rockstar Inc Shenzhen Eastroc Beverage Industrial Co., Ltd South Beach Beverage Co. Inc. Suntory Beverage & Food Ltd The Cloud 9 Energy Drink The Coca-Cola Company The Hain Celestial Group The Kraft Heinz Company WNWM Ustronianka For more information about this report visit https://www.researchandmarkets.com/r/w1rtw8 Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. Media Contact: Research and Markets Laura Wood, Senior Manager [emailprotected] For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 SOURCE Research and Markets Related Links http://www.researchandmarkets.com

Answer: Global Functional Beverages Market Report 2020: CBD-Infused Functional Drinks Gaining Momentum - Forecast to 2030