Energy Drink Market Summary
Energy drinks are a beverage designed to increase mental alertness and physical performances for consumers by the addition of caffeine and typically other additives, such as vitamins, taurine, herbal supplements, creatine, sugars, and guarana.
According to the new market research report “Global Energy Drink Market Report 2023-2030”, published by QYResearch, the global Energy Drink market size is projected to reach USD 81.14 billion by 2030, at a CAGR of 5.8% during the forecast period.
According to QYResearch Top Players Research Center, the global key manufacturers of Energy Drink include Red Bull, Monster Energy, Reignwood Group, Pepsico, Eastroc Beverage, T.C. Pharmaceutical, Dali Foods, Henan Zhongwo, Taisho Pharmaceutical Holdings, Suntory, etc. In 2023, the global top 10 players had a share approximately 52.0% in terms of revenue.
In terms of product type, currently General Energy Drinks is the largest segment, hold a share of 90.4%.
In terms of product application, currently Offline Sale is the largest segment, hold a share of 86.5%.
Market Drivers:
D1: Energy drinks have become a popular choice among consumers, and companies need to ensure that their products are readily available to meet the growing demand. In addition to traditional retail partnerships, companies can explore other distribution and sales channels to expand their reach and increase revenue.
D2: Hectic and fast-paced lifestyles of consumers, leading to a growing need for quick energy boosts. Desire for improved mental alertness, concentration, and physical performance, especially among students and professionals.
D3: Continuous innovation in flavors and formulations, introducing new and unique products to attract diverse consumer preferences. Inclusion of functional ingredients such as vitamins, amino acids, and herbal extracts, promoting added health benefits.
Restraint:
R1: The energy drinks market is becoming saturated, leading to increased competition among existing and new market players.
R2: Consumers becoming more price-sensitive, affecting the purchasing behavior of energy drinks, especially during economic downturns.
R3: Growing consumer awareness about health and wellness leading to a shift towards healthier beverage alternatives, impacting traditional energy drink sales.
Trend:
Expanding the Consumer Base: Traditionally, energy drinks have primarily targeted a specific segment of consumers. However, the new generation of energy drinks is evolving to meet a wider range of consumer needs. By adding functionality, providing natural options, and targeting specific occasions, energy drinks are now appealing to a broader demographic audience.
Focus on Sports Nutrition and Performance Enhancement: Sports nutrition is another area of expansion for energy drinks, with more energy drink brands adding performance and recovery ingredients such as BCAAs, creatine and electrolytes. While not the same as sports drinks, energy drinks can provide many of the same benefits, leading energy drink companies to market toward individuals seeking physical performance optimization.
Expanding Flavor Horizons: While lemon, lime, orange and berry flavors have long been favorites among traditional energy drink consumers, a new trend is emerging in the industry. Energy drink brands, both established and new, are using flavors as a means of differentiating themselves and catering to more adventurous palates. Even industry giants like Red Bull and Monster Beverage Corporation are experimenting with exciting new flavor combinations.
About The Authors
Yin Hang
Lead Author
Email: yinhang@qyresearch.com
Tel: +86-18310165532
About QYResearch
QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
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