Global Energy Drinks Market Analysis On The Basis Of Product, Type, Packaging, Distribution Channel, And Region
Energy Drinks Industry Overview
The global energy drinks market size was valued at USD 86.35 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.3% from 2022 to 2030. The growing demand for energy drinks as a potential energy booster in order to improve physical and cognitive performance has been shaping the market growth. Drinks that are free from sugar, glucose, and high fructose corn syrups have been gaining traction among consumers. Market players are aggressively marketing these drinks as functional beverages that uplift energy and alertness as well as provide a physical boost.
The COVID-19 pandemic has had a positive impact on market growth. Though the demand for the product was already rising, the segment exploded after the COVID-19 pandemic hit the world. Increased concerns for health, convenience, and the enhanced quality and diversity of these beverages are the factors behind the upsurge in demand. After the closure of restaurants and bars in March 2020, consumers brought the product from online platforms. This trend benefited the market growth. The sale of the product rose significantly through e-commerce channels due to stay-at-home orders around the world.
Gather more insights about the market drivers, restrains and growth of the Global Energy Drinks market
In the U.S., energy drinks are the most popular supplements for teens and young adults. The majority of these drinks are consumed by men between 18 and 34. This growth is attributed to increasing awareness and an increase in sports activities among the younger population. Players operating in the U.S. market have recently shifted their consumer focus from athletes to young people owing to the growing demand from young consumers for mental alertness.
Brands are launching sugar-free and calorie-free energy drinks. These products address the need for healthier options, which can benefit athletes or consumers who are obese. Sugar-free varieties can also be valuable for consumers who are lactose intolerant. Energy beverages including soft drinks, carbonated beverages, fruit and vegetable juices, beverage concentrates, ready-to-drink tea, and ready-to-drink coffee are the most commonly consumed.
Changing preferences, lifestyles, tastes, and continuous innovations in the product have bolstered the product demand. These drinks are considered to be one of the fastest-growing beverage segments globally and they maintained growth throughout the pandemic despite major shifts in the consumption of other products. Further, the demand for convenience and RTD format is driving the demand. Thus, major brands are strategically responding to consumer demands and the products are experiencing a wider reach.
For instance, in September 2019, The Coca-Cola Company unveiled the first energy drink under the Coke brand alongside several other beverage innovations at the National Association of Convenience Stores (NACS) expo in Atlanta. The company launched- ‘Coca-Cola Energy Cherry’, available exclusively in the U.S. and its zero-calorie counterparts. Similarly, in March 2021, PepsiCo. Inc. introduced a new line of energy drink - ‘Mtn Dew Rise Energy’, particularly targeted at morning consumers. The product contains coffee, vitamins A & C, antioxidants, and fruit juice. Further, it contains citicoline to boost mental clarity and zinc for immune support. The company made this strategic launch in order to move beyond its core soda line into functional beverages and energy drinks.
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- Canned Meat Market - The global canned meat market size was valued at USD 13.68 billion in 2020 and is anticipated to expand at a compound annual growth rate (CAGR) of 2.2% from 2021 to 2028. Increasing preference for processed food and rising per capita spending on meat consumption are expected to fuel the product demand over the forecast period. The COVID-19 pandemic had an adverse impact on the market.
Energy Drinks Market Segmentation
Grand View Research has segmented the global energy drinks market on the basis of product, type, packaging, distribution channel, and region:
Energy Drinks Product Outlook (Revenue, USD Million, 2017 - 2030)
- Drinks
- Shots
- Mixers
Energy Drinks Type Outlook (Revenue, USD Million, 2017 - 2030)
- Conventional
- Organic
Energy Drinks Packaging Outlook (Revenue, USD Million, 2017 - 2030)
- Cans
- Bottles
- Others
Energy Drinks Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
- On-trade
- Off-trade
Energy Drinks Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- February 2022: PepsiCo. Inc. launched a hemp energy drink in the U.S. containing ingredients such as hemp oil, vitamin B, spearmint, lemon balm, and caffeine.
- January 2022: Anheuser-Busch Companies LLC is planning to launch energy drinks in India as the energy drinks category is primarily driven by millennials and affluent consumers across key urban cities in the country.
Key Companies profiled:
Some prominent players in the global energy drinks market include:
- Red Bull
- Taisho Pharmaceutical Co. Ltd.
- Inc.
- Monster Energy
- Lucozade
- The Coco-Cola Company
- Amway
- AriZona Beverages USA
- Living Essentials LLC
- Xyience Energy
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