Energy Drinks Market, by Type and End User: Global Opportunity Analysis and Industry Forecast, 2022-2031,” The energy drinks market was valued at $45.80 billion in 2020, and is estimated to reach $108.40 billion by 2031, growing at a CAGR of 8.2% from 2022 to 2031.
The adults segment accounted for maximum share in 2020. Energy drinks are beverages that contain caffeine, taurine, vitamins, & other stimulants, and are marketed as products that boost mental alertness and physical stamina. They may or may not be carbonated. The demand for energy drinks and related items has increased at an alarming rate, according to reports. This is due to the advantages that these beverages provide, such as improved performance, focus, weight loss, stamina, and so on. Furthermore, consumers, particularly men, positively link energy drink intake with risk-taking activities and masculinity.
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Furthermore, energy drinks have more caffeine than a cup of coffee and can help with alertness and concentration. Owing to surge in demand for items that provide rapid energy, manufacturers create a variety of products with distinct flavors and tastes. This, in turn, is expected to support the global energy drinks market growth.
The nonalcoholic segment accounted for the highest energy drinks market share in 2020, garnering a share of 53.9%, owing to the fact that such products boost the energy by improving physical and cognitive performance. This segment is also estimated to witness a healthy growth in the energy drinks market in the future.
The alcoholic energy drinks segment accounted for 46.1% of the total market in 2020, due to increase in consumption of alcoholic beverages by regular party goers. This has led to surge in demand for alcoholic energy drinks. In addition, it has turned into a status symbol, especially for teenagers; therefore, consumption of alcoholic energy drinks has witnessed increased popularity, thereby boosting the energy drinks market opportunities.
In 2020, by end user, the adult segment acquired the maximum market share of around 46.1%, and is anticipated to grow with the highest CAGR of 8.5% during the energy drinks market forecast period. This has attributed to rise in trend among corporates and athletes, who consume energy drinks for an extra dose of energy to enhance their performance. In addition, surge in riboflavin content helps to minimize cramps in muscles and blood disorders. Energy drinks are popular among athletes as they provide an extra boost of energy, aid with sleep deprivation, raise alertness, improve cognition, and elevate mood. Athletes also use energy drinks to combat the depressing effects of drinking by boosting the central nervous system.
According to energy drinks market analysis, by region, Asia-Pacific is expected to witness the highest growth rate of 8.8% during the forecast period, owing to increase in disposable income and change in consumption & lifestyle pattern as well as demographics and energy drinks market trends.
The major companies profiled in the report include are Red Bull, Monster Beverage Corporation, Rockstar Inc., The Coca-Cola Company, PepsiCo, Arizona Beverage Company, National Beverage Corp., Dr. Pepper Snapple Group, Living Essentials, and Cloud 9.
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