The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global energy drinks probiotics market is forecasted to reach USD 83.4 billion by 2024, registering a CAGR of 7.1% during the forecast period (2019 - 2024).
- Energy drinks have transitioned from being a niche product to one of the fastest growing product in the global drinks market. This change has been brought by a growingly evident consumer focus on fitness and health.
- Energy drinks are marketed as an alternative to carbonated drinks therefore, there is a significant rise in the number of people switching from carbonated drinks to energy drinks over the last few years.
- Energy drinks face huge competition from packaged juice, aerated beverages and malted health drinks. These substitutes are low in cost as compared to some of the energy drinks.
Scope of the Report
Energy drinks are beverages that contain taurine, caffeine, vitamins, glucuronolactone, proprietary blends, herbal extracts, and amino acids, which are marketed as products that boost physical stamina and mental alertness. The primary types of energy drinks are: Drinks, Shots and Mixers which are available in the packaging forms: Bottle, Can and Others. By distribution channel, energy drinks market is segmented into: Supermarkets/Hypermarkets, Food Services /Sports Nutrition chain, Online Channel and Others.
Key Market Trends
High Demand for Fast Energy Products
Consumption of energy drinks has been increasing dramatically in the last two decades, particularly amongst adolescents and young adults. Energy drinks are aggressively marketed with the claim that these products give an energy boost to improve physical and cognitive performance. A large amount of caffeine in energy drinks provides the consumer with the desirable effects of improved memory, increased alertness and elevated mood. Therefore, abiding by beneficial facts of consuming energy drinks is surging the demand and a significant increase in consumption of these drinks has been observed.
Energy Drinks Market Size by Region
The major consumer of energy drinks in the world is between the age group of 18-35 years which is rising the demand from the millennial population. North America is the major consuming market for energy drinks due to health concerns and awareness. However, Asia-Pacific is a growing market due to the changing demographics and increasing disposable income. Europe is an emerging market poised to grow at a healthy rate due to growing consumer adoption rate as a result of increased marketing efforts by key players. Children and adolescents are the main target groups for manufacturers. Markets in other regions like South America and Middle-East and Africa are comparatively smaller markets and are expected to take a rise in the coming years.
The energy drink market is saturated, making it hard for new and small companies to compete. Monster Beverage Corporation, Red Bull, Coco-Cola, Rockstar Inc., PepsiCo are few of the many companies whose market share is high in the energy drinks segment. Companies focused on personalization and convenience in the American market need to look at European consumer demand for healthy, zero-calorie, low sugar functional products to scale their energy drink production in the region. Product launches in energy drop address this concern, offering huge potential for growth in developing regions. Most of the manufacturers create product awareness through advertising and sports players and celebrity endorsement. Major sports events are sponsored by energy drink manufacturers.
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