Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Energy Ingredients Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The latest comprehensive research on the global energy ingredients market, highlighting substantial growth and emerging trends, has been released, showcasing a projected market increase from $24.31 billion in 2023 to $26.3 billion in 2024. This reflects a robust compound annual growth rate (CAGR) of 8.2%. The report delves into key factors driving the market, including efforts to reduce reliance on fossil fuels, global initiatives to diminish carbon emissions, and the rising cost of traditional energy sources. Furthermore, the integration of renewable energy into power grids continues to fuel market advancements.
As the market is poised to ascend to $36.07 billion by 2028, maintaining the 8.2% CAGR, the report identifies critical drivers anticipated to shape future growth. These include the adoption of hydrogen as an energy carrier, shifting global trends towards renewable energy sources, enhanced focus on energy efficiency, incorporation of circular economy principles, and rural electrification programs. A spotlight on natural and clean label ingredients, plant-based energy offerings, and innovative functional beverages reflects the evolving landscape of the energy ingredients sector.
The growing demand from key end-user industries, notably the food and beverage sector, is expected to significantly contribute to the market's expansion. This industry's reliance on energy ingredients for nutritional enhancement in various products is intensifying, mirrored by substantial growth in food and drink exports and industry turnover. Additionally, the surge of e-commerce has provided a vital channel for energy ingredient sales, broadening consumer reach and offering a new dimension to purchasing patterns.
Significant Market Trends and Developments
- Product Innovations: Enterprises in the energy ingredients market are introducing innovative formulations, tapping into consumer demand for unique and health-conscious options.
- Strategic Partnerships: Major players are forming alliances to enhance product development capabilities, amplifying their impact on the energy drink landscape.
- Acquisition Movements: Corporate activities such as acquisitions solidify market positions by expanding product portfolios and entering new geographic territories.
In terms of regions, North America emerged as the largest market for energy ingredients in 2023, with Asia-Pacific predicted to be the fastest-growing region during the forecast period. The report covers a comprehensive geographical analysis, providing insights into the substantial market variances and opportunities across different regions and countries.
The energy ingredients market research report aims to equip businesses and stakeholders with in-depth analysis and data-driven insights, facilitating informed strategic decisions in a dynamic industry landscape. The exhaustive study's findings are based on reliable sources and rigorous analysis by industry experts, thereby providing a thorough perspective on current trends and future prospects.
The global market report for energy ingredients is now available, offering a forecasted scenario until 2024, exploring sales of key components such as caffeine, creatine, taurine, and ginseng. It encompasses sales distribution across supermarkets, specialty stores, and online retail platforms, and sheds light on applications across food, beverage, and supplement sectors.
A selection of companies mentioned in this report includes
- BASF SE
- Spectrum Chemical Mfg. Corp.
- RFI Ingredients Inc.
- Korea Ginseng Corporation
- Orkla ASA
- ILHWA Enzyme Fermented Ginseng
- Applied Food Sciences Inc.
- Naturalin Bio-Resources Co. Ltd.
- Changsha Huir Biological-Tech Co. Ltd.
- Sinochem Pharmaceutical Co. Ltd.
- Graham Chemical Corporation
- Mutalo Group
- Red Bull GmbH
- Musashi Energy Solutions Co. Ltd.
- GURU Organic Energy Drinks
- Aarti Industries Ltd.
- Koei Kogyo Co. Ltd.
- Nutra Food Ingredients LLC
- NutraScience Labs
- NutraPak
- Cargill Incorporated
- Kerry Group plc
- DuPont de Nemours Inc.
- Archer Daniels Midland Company
- Ingredion Incorporated
- Tate & Lyle plc
- Givaudan
- DSM Nutritional Products AG
- Ajinomoto Co. Inc.
- FMC Corporation
For more information about this report visit https://www.researchandmarkets.com/r/hsnce6
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
