Dubai, UAE, May 30, 2023 (GLOBE NEWSWIRE) -- According to Extrapolate, the global Energy Drinks Market is projected to reach USD 91.6 billion by 2028 from USD 60.7 billion in 2021, with a CAGR of 7.3% during the projection period. The demand for energy drinks as a potential source of extra energy to improve physical and mental performance has had a positive impact on the market's growth.
The demand for energy drinks remains robust, driven by the growing number of consumers engaging in exercise and following diverse fitness routines within the convenience of their own homes. Rich sources of immunity-boosting foods and beverages that contain vitamins, minerals, and other crucial components that improve immunity are becoming more popular. As a result, more competitors are entering the market for functional energy drinks.
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Competitive Landscape
The market landscape comprises numerous small and medium-sized enterprises, along with a handful of well-established competitors, where a significant portion of the market share is controlled by key firms. These manufacturers are using a variety of tactics, including product launches, product portfolio growth, and mergers and acquisitions.
Prominent players in the market include
- Red Bull
- Monster Energy
- Coca Cola
- PepsiCo
- AriZona Beverages
- National Beverage Corp.
- Keurig Dr Pepper, Inc.
- 5-hour ENERGY
- The Cloud 9 Energy Drink
- Vitale Beverages
- Xtreme Energy Group Limited
Market Segmentation
By Packaging Type
- Bottles
- Cans
Cans Continue to Accrue Demand Owing to Attractive Functionality of Packaging
Cans held the largest revenue share in 2021 and is anticipated to continue leading the global energy drinks market during the projected period. Young consumers prefer metal cans since they're more portable and don't break like glass. As a result of the restriction on bars, pubs, and restaurants due to the coronavirus pandemic, demand for the product in cans has significantly increased and is anticipated to keep growing over the forecasted period. Canned packaging is favored by individuals seeking functional energy drinks, as several options are available in this convenient and portable format.
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By Distribution Channel
- Supermarket/Hypermarket
- Convenience stores
- Specialty Stores
- Online
Growing Penetration of Retail Sales Globally to Generate Demand For Convenience Store
The convenience store segment dominated the global energy drinks market share in 2021. This growth was attributable to the increasing number of retail establishments both in urban and rural areas. Moreover, a rise in retail sales penetration has accelerated market expansion further.
By Product
- Drinks
- Shots
- Mixers
Shifting Consumer Preferences For Energy Drinks to Promote Market Growth
The rise in the popularity of energy drinks has impacted the market's growth. They are frequently marketed as potential energy boosters to improve physical and mental efficiency. Beverages without sugar, glucose, or high fructose corn syrup are becoming more popular among customers.
The demand for the product has increased due to shifting preferences, lifestyles, tastes, and ongoing product advancements. Energy drinks are among the beverage categories with the strongest growth rates internationally, and they continue to expand during the pandemic despite significant changes in the consumption of other products. The desire for convenience and ready-to-drink format is also driving demand. Major brands are proactively responding to consumer demands as a result, and the reach of the products is expanding.
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Presence of Prominent Manufacturers in North America to Gain Traction
North America region dominates the global energy drinks market share due to the high rate of consumer product growth. Sales in the world market for energy drinks are increasing due to the presence of key companies and increased consumer awareness. Brands are also introducing energy drinks with no added sugar or calories. These products meet the demand for healthier alternatives, which might be advantageous for consumers who are obese or athletes.
Additionally, users who are lactose intolerant may find sugar-free products useful. The most often consumed energy drinks are soft drinks, carbonated drinks, fruit and vegetable juices, beverage concentrates, ready-to-drink tea, and ready-to-drink coffee.
Prominent Consumer Demand from Developing Economies in Asia Pacific to Aid Sales
Asia Pacific is anticipated to see the fastest growth rate during the forecast period due to the increasing population. The market is expected to increase significantly in the economies of China, India, and Japan due to consumer willingness to explore new flavors. Additionally, the strong demand from immigrants in the region shows interest in a range of beverages promoting sales. Therefore, product launches in the region try to target and appeal to a wide variety of consumers boosting demand for products in the region.
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Table of Content
Chapter 1. Executive Summary
Chapter 2. Research Methodology
2.1. Research approach
2.2. Scope, definition, and assumptions
2.3. Data Packaging Type
2.3.1. Secondary Packaging Type
2.3.1.1. Preliminary data mining
2.3.2. Primary Packaging Type
2.3.2.1. Statistical Model
2.3.2.2. Data Triangulation
2.3.2.3. Research Objective
Chapter 3. Market Outlook
3.1. Introduction
3.2. Key trends
3.3. Market drivers
3.4. Market restraints
3.5. Market opportunities
3.6. Market Challenges
3.7. Porter’s Five Forces Analysis
3.8. Value chain analysis
Chapter 4. COVID-19 Impact On Energy Drinks Market
Chapter 5. Global Energy Drinks Market Overview, By Packaging Type, 2015 - 2028 (USD Million)
Chapter 6. Global Energy Drinks Market Overview, By Product, 2015 - 2028 (USD Million)
Chapter 7. Global Energy Drinks Market Overview, By Distribution Channel, 2015 - 2028 (USD Million)
Chapter 8. Global Energy Drinks Market Overview, By Geography, 2015 - 2028 (USD Million)
Chapter 9. North America Energy Drinks Market Overview, By Countries, 2015 - 2028 (USD Million)
...
Chapter 14. Competitive Landscape
14.1. Competitive environment, 2021
14.2. Strategic framework
14.2.1. Partnership/agreement
14.2.2. Expansion
14.2.3. Mergers & Acquisitions
14.2.4. New Size development
Chapter 15. Key Vendor Analysis
Chapter 16. Sourcing Strategy and Downstream Buyers
16.1. Energy Drinks Market Industrial Chain Analysis
16.2. Downstream Buyers
Chapter 17. Marketing Strategy Analysis, Distributors/Traders
17.1. Marketing Channel
17.1.1. Direct Marketing
17.1.2. Indirect Marketing
17.1.3. Marketing Channel Development Trend
17.2. Market Positioning
17.2.1. Pricing Strategy
17.2.2. Brand Strategy
17.2.3. Target Client
17.3. Distributors/Traders List
Chapter 18. Market Effect Factors Analysis
18.1. Product Progress/Risk
18.1.1. Substitutes Threat
18.1.2. Product Progress in Related Size
18.2. Consumer Needs/Customer Preference Change
18.3. Economic/Political Environmental Change
Chapter 19. Future Outlook of the Market
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