Fort Collins, Colorado, Nov. 21, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, The Energy Drinks Market size was valued at USD 92.3 Billion in 2022 and is expected to reach USD 220.9 Billion by 2032 with a CAGR of 9.2%.
The market for energy drinks is growing due to their potential to boost physical and cognitive performance. Market players are promoting drinks free from sugar, glucose, and high fructose corn syrups as functional beverages that enhance energy alertness and provide physical benefits. The COVID-19 pandemic has positively impacted the market growth, with increased demand due to health concerns and convenience. Online sales have also surged due to stay-at-home orders, benefitting the market growth.
Energy drinks have become a popular supplement among teenagers and young adults in the United States. Most of these drinks are consumed by men aged between 18 and 34. The growth of this drink segment is attributed to the increasing awareness of health and wellness and the growing popularity of sports activities among the younger population. In recent times, U.S. market players have shifted their consumer focus from athletes to young people, owing to the growing demand for mental alertness among young consumers.
Health-conscious brands are introducing a range of sugar-free and calorie-free energy drinks to meet the growing demand for healthier options. Such products can prove beneficial for athletes and individuals who are overweight or obese. In addition, sugar-free variants can be particularly useful for individuals 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 among the most commonly consumed beverages.
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Segmentation Overview:
The global energy drinks market has been segmented into product, packaging, distribution channel, and region. Energy drinks come in three types: drinks, shots, and mixers. Drinks are the most popular type and are convenient to purchase and consume. Energy drinks are packaged in cans and bottles, with cans being preferred for their lightweight and eco-friendly nature.
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Energy Drinks Market Report Highlights:
- The global energy drinks market growth is anticipated at a CAGR of 9.2% by 2032.
- PepsiCo, Inc. announced two new nutrition goals as part of their strategic transformation to reduce sodium and provide essential sources of nutrition in the foods consumers reach for.
- North America, particularly the US, has the highest per capita consumption worldwide. New product launches like ZOA cater to the increasing trend towards healthy organic diets.
- Some prominent players in the energy drinks market report include Red Bull, Taisho Pharmaceutical Co Ltd., PepsiCo. Inc., Monster Beverage, Lucozade, The Coco-Cola Company, Amway, AriZona Beverages USA, Living Essentials LLC, Xyience Energy, and others.
Industry Trends and Insights:
- Energy drinks are high-caffeine beverages that claim to improve physical and mental performance. Their popularity has contributed to the growth of the energy drinks market.
- Monster Beverage Corporation acquired Bang Energy beverages and a production facility in Phoenix, Arizona, for approximately $362 million.
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Energy Drinks Market Segmentation:
By Product: Drinks, Shots
By Packaging: Cans, Bottles
By Distribution Channel: On-trade, Off-trade
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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