Portland, OR, Aug. 29, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global energy drinks market accounted for $53.01 billion in 2018 and is estimated to reach $86.01 billion by 2026, growing at a CAGR of 7.2% from 2019 to 2026.
Increased demand for energy drinks as it offers various desirable effects such as improved memory, fast recovery and increased prominence among young generation have propelled the growth of the global energy drinks market. However, presence of alternatives including green tea and ginger root tea hinders the market growth. On the contrary, inclination of consumers toward organic energy drinks is expected to create lucrative opportunities in the near future.
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The global energy drinks market is segmented on the basis of type, end user, and geography. Based on type, the market is divided into alcoholic and nonalcoholic. The non-alcoholic energy drink segment dominated the market in 2018 and is expected to continue its dominance throughout the market. The segment accounted for more than half of the market, owing to increased popularity among teenagers due to rise in health consciousness. Moreover, the segment is projected to register the fastest CAGR of 6.5% during the forecast period.
On the basis of end user, the market is divided into kids, teenagers, and adults. The adult segment held the lion’s share in 2018, accounting for more than two-fifths of the market and is projected to portray the fastest CAGR of 6.7% during the study period, owing to surge in trend among the adult population of corporates and athletes who need energy drinks for an addition dose of energy to improve performance.
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The global energy drinks market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2018, contributing around one-third of the market. However, the market across the Asia-Pacific region is estimated to register the fastest 7.3% during the forecast period.
The market report includes an in-depth analysis of the major market players such as Red Bull GmbH, Rockstar Inc., PepsiCo Inc., Monster Energy, Big Red, Dr. Pepper Snapple Group, AriZona Beverages USA LLC, Dabur India Ltd., National Beverage Corp., and Coca Cola Company.
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