(MENAFN- PR Newswire)
NEW YORK, Sept. 10, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape- The global energy drinks market size is estimated to grow by USD 40.04 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of
8%
during the forecast period. Hectic lifestyle and need for instant energy
is driving market growth,
with a trend towards
increase in demand for low-calorie energy drinks. However,
stiff competition from low-cost substitutes
poses a challenge. Key market players include Abbott Laboratories, Britvic plc, Cargill Inc., Decathlon SA, DyDo Group Holdings Inc., Hype Energy, Keurig Dr Pepper Inc., Monster Beverage Corp., National Beverage Corp., Otsuka Holdings Co. Ltd., PepsiCo Inc., Red Bull GmbH, Slades Beverages, Suntory Beverage and Food Europe, and The Coca Cola Co..
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Technavio has announced its latest market research report titled Global Energy Drinks Market 2023-2027
Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report
| Energy Drinks Market Scope |
| Report Coverage |
Details |
| Base year |
2022 |
| Historic period |
2017 - 2021 |
| Forecast period |
2023-2027 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 8% |
| Market growth 2023-2027 |
USD 40.04 billion |
| Market structure |
Concentrated |
| YoY growth 2022-2023 (%) |
7.54 |
| Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
| Performing market contribution |
APAC at 36% |
| Key countries |
US, China, Japan, Germany, and UK |
| Key companies profiled |
Abbott Laboratories, Britvic plc, Cargill Inc., Decathlon SA, DyDo Group Holdings Inc., Hype Energy, Keurig Dr Pepper Inc., Monster Beverage Corp., National Beverage Corp., Otsuka Holdings Co. Ltd., PepsiCo Inc., Red Bull GmbH, Slades Beverages, Suntory Beverage and Food Europe, and The Coca Cola Co. |
Market Driver
The health-conscious consumer trend is driving the demand for low-calorie energy drinks in the market. Obesity is a significant factor contributing to this trend. Energy drink manufacturers, such as Red Bull, have responded by introducing sugar-free variants. The food and beverage industry is witnessing a shift towards healthier options, with consumers moving away from high-sugar drinks. Female consumers, in particular, are seeking low-calorie energy drinks to maintain their calorie intake while enjoying the benefits of alertness and energy. Vendors are capitalizing on this trend to expand their product portfolios and attract new customers. For instance, The Coca-Cola Company launched zero-sugar energy drinks in the US in January 2020, and Coca-Cola Europacific Partners announced plans to launch Monster, a zero-sugar energy drink, in 2022. The availability of a diverse range of low-calorie energy drinks is expected to fuel the growth of the global energy drinks market during the forecast period.
The Energy Drinks market is experiencing significant trends in 2023. Alcohol-infused energy drinks face challenges due to their depressive effects, leading to growth in the non-alcoholic segment. Adults, particularly millennials and the younger generation, prefer flavors like Lemon, Lime, Orange, Berry, and newcomers Watermelon and Mango. Traditional energy drink brands like Red Bull and Monster Energy continue to dominate, but Yerba mate and Green tea extract are gaining traction as functional ingredients. Diabetes and prediabetics are a growing consumer base, driving demand for sugar-free and low-calorie options. Consumer preferences shift towards dietary choices, with Vitamins and minerals, Caffeine, and Stimulants like Taurine and Ginseng in high demand. Expert analysis indicates rising incomes and a focus on immunity-boosting beverages will further fuel market growth. Soft drinks, Carbonated beverages, Bottled water, Sports drinks, Beverage concentrates, Supplements, and Multivitamins are key categories within the Energy Drinks market. Caffeine remains a crucial factor, but watch out for innovative flavors and functional ingredients.
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Market Challenges
The energy drinks market faces significant competition from affordable alternatives such as fruit juices and soft drinks. While energy drinks do not contain stimulants like ginseng and guarana, they offer energy through substances like glucose, vitamins, and minerals. These substitutes have been in the market for a long time and enjoy high demand. In contrast, energy drinks are often associated with high marketing costs due to sponsorships of sports events. This, coupled with the availability and affordability of alternatives, results in a higher cost for energy drinks. Creating a distinct identity for energy drinks amidst popular beverages like coffee and tea is a challenge. Consequently, the competition from low-cost substitutes is expected to limit the growth of the energy drinks market during the forecast period.
The Energy Drinks market faces several challenges. Caffeine, a common ingredient, raises concerns with potential caffeine overdose leading to health risks such as hypertension, nausea, restlessness, and sleep deprivation. Differentiation from soft drinks and carbonated beverages is essential, as consumers seek healthier options like fruit and vegetable juices, bottled water, and sports drinks. Beverage concentrates and supplements, including vitamins and minerals, taurine, ginseng, and guarana, add complexity to the market. Electrolytes and water are crucial for athletes, but added sugars and sweeteners can negatively impact consumer health. Rising incomes drive demand for immunity-boosting beverages, while consumer lifestyle, health wellness, and mental stimulation are key factors. Targeting teenagers requires careful consideration due to potential health risks. Alcoholic and nonalcoholic beverages, as well as adult consumers seeking alertness, memory, mood enhancement, and wakefulness, also represent significant opportunities.
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Segment Overview
This energy drinks market report extensively covers market segmentation by
Product
1.1 Sparkling energy drinks
1.2 Still energy drinks
Distribution Channel
Geography
3.1 APAC
3.2 North America
3.3 Europe
3.4 South America
3.5 Middle East and Africa
1.1
Sparkling energy drinks-
The Energy Drinks Market has experienced significant growth in recent years, driven by increasing consumer demand for products that enhance alertness and productivity. Key players in this market include Red Bull, Monster Energy, and Rockstar. These companies offer various flavors and product formats, catering to diverse consumer preferences. The market size is projected to expand further due to rising health consciousness and busy lifestyles. Competitive pricing and effective marketing strategies are crucial for market success.
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Research Analysis
The Energy Drinks market is a rapidly growing segment of the beverage industry, driven by the demand for caffeine and stimulants to enhance wakefulness, cognition, and athletic performance. These beverages, which come in various forms including soft drinks, carbonated beverages, and bottled water, contain ingredients such as taurine, ginseng, guarana, vitamins, minerals, and sweeteners. The market is expanding due to rising incomes, a preference for immunity-boosting beverages, and the need to counteract the effects of alcohol and sleep deprivation. Fruit and vegetable flavors, such as lemon, lime, orange, and berry, are popular choices, with traditional energy drinks and major energy drink brands also dominating the market. The non-alcoholic segment caters to adults, with athletes and students being significant consumers. However, the potential depressive effects of excessive consumption are a concern.
Market Research Overview
The Energy Drinks Market encompasses various beverage categories, including soft drinks, carbonated beverages, bottled water, sports drinks, beverage concentrates, and supplements. These beverages contain stimulants such as caffeine, taurine, ginseng, and guarana, as well as vitamins and minerals, electrolytes, and functional ingredients like green tea extract and yerba mate. The market is driven by rising incomes, consumer lifestyle, and health wellness trends. However, health risks such as caffeine overdose, hypertension, nausea, restlessness, and sleep deprivation are concerns. Immunity-boosting beverages, vitamins and minerals, and mental stimulation are key benefits. The market caters to both alcoholic and nonalcoholic segments, with adults and teenagers being major consumers. Consumer preferences and purchasing patterns vary, with flavors such as lemon, lime, orange, berry, watermelon, and mango being popular. The market includes major energy drink brands like Red Bull and Monster Energy, as well as traditional energy drinks and newer offerings like those with low sugar, no sugar, or organic ingredients. Diabetics and prediabetics may face challenges due to the high sugar content. The younger generation, including millennials, and athletes are significant markets. Dietary choices and the growing popularity of herbal and functional ingredients are influencing the market. Expert analysis suggests that the market will continue to evolve, with new product innovations and consumer preferences shaping its future.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Product
Sparkling Energy Drinks
Still Energy Drinks
Distribution Channel
Geography
APAC
North America
Europe
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
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SOURCE Technavio
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