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The market is expected to grow owing to the preference for alcoholic energy drinks as a substitute for alcohol as they have a limited amount of alcohol in them.” - Allied Market Research
WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, June 6, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“Alcoholic Energy Drinks Market ," The alcoholic energy drinks market was valued at $23.2 billion in 2021, and is estimated to reach $48.9 billion by 2031, growing at a CAGR of 8% from 2022 to 2031.
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An alcoholic energy drink is a combination of alcohol and other stimulants generally caffeine which is believed to increase alertness and attentional performance. The majority of such drinks are packed in cans and bottles. Alcoholic energy drinks are healthier and tastier as compared to alcohol. It is also good for late-night parties as they don't let the consumer faint or get unconscious which reduces the chances of an accident. Generally, alcoholic energy drinks are available for both, teens and adults.
According to the National Library of Medicine, two third of energy drink consumers are from the age range of 13-35 years. In recent times, people are avoiding excess usage of caffeine as it is not health friendly and can cause several diseases which can hold up the alcoholic energy drinks market growth.
During the lockdown, owing to the coronavirus, the consumption of alcoholic energy drink decreased in commercial areas, as the food industry were partially or completely shut down. Further, the decline in the production of new goods led to a fall in supply. However, the reopening of production facilities and introduction of vaccines for coronavirus disease has led to the re-initiation of the production of alcoholic energy drinks in companies and their consumption at their full-scale capacities. . As after COVID population becomes aware of the importance of health and the immunity so they are shifting their preference toward healthy non-alcoholic drinks along with this due to the pandemic there is a shift toward organic products which may hinder the alcoholic energy drinks market demand.
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The alcoholic energy drinks market size is expected to grow owing to the rise in popularity of the alcoholic energy drink as a substitute for alcohol as there has been a drastic increase in the consumption of energy drinks over the last two decades, especially among adolescents and young teens. According to an article by the National Library of Medicine, it was observed that approximately 30% of consuming energy drinks in the U.S. on regular basis. In Western Europe and the US, alcoholic energy drinks are used as a substitute for alcohol as they have a limited amount of alcohol in them. Along with this, the caffeine in them does not induce dizziness in the person consuming them. Owing to such benefits of the alcoholic energy drink there will be a rise in the usage of the product which will drive market growth.
Along with this rise in disposable income of the population will also provide an opportunity for the alcoholic energy drinks industry to grow as There is a rise in the disposable income of households which will create an opportunity for the market as with increasing disposable income new consumers will enter the market which will create an opportunity for the market to grow. According to Eurostat, there is a rise of 2.6% in disposable income in the European Union. As per the data of OECD Mexico has seen an increase of 4.2% in the second quarter of 2021. All these factors will work as alcoholic energy drinks market trends
The global energy drinks market is segmented on the basis of packaging, end-users, distribution channel, and region. Depending on the packaging, it is classified into cans and bottles. As per the end-users, the market is classified into adults and teens. According to the distribution channel, it is divided into hypermarkets/supermarkets, convenience stores, online retail, and others. Region-wise, the alcoholic energy drinks market share is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy. and the rest of Europe), Asia-Pacific (China, Japan, South Korea, Thailand, Australia, and rest of Asia-Pacific), and LAMEA (Argentina, Saudi Arabia, South Africa, and rest of LAMEA).
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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