• Stacy Lawlor

Global Energy Drinks Market Size to grow USD 91.6 Bn in 2028

The Global Energy Drinks Market Size was valued at USD 60.7 Bn in 2021. The market is projected to grow USD 91.6 Bn in 2028, at a CAGR of 7.3%.

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An energy drink is a beverage that contains a high amount of stimulants, such as caffeine, taurine, ginseng, guarana, and other ingredients.

Global Energy Drinks Market Size

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COVID-19 ANALYSIS

The outbreak of the COVID-19 disease in 2020 had a moderate Impact on the global energy drinks market. The supply chain disruptions, lack of labor, partial or complete closure of manufacturing facilities, and difficulties in the procurement of raw materials were the major issue faced by the manufacturers during the pandemic.


The demand for non-carbonated drinks has grown as a result of greater urbanisation, higher disposable incomes, and rising health consciousness among consumers. Adolescents use a lot of energy drinks since they claim to improve their performance, endurance, and alertness. Long and unpredictable working hours, as well as an increase in the number of social occasions, are leading customers to use energy drinks. Furthermore, rising incidence of lifestyle-related diseases, as well as an increase in the number of health-conscious customers and increased consumer awareness of active lives, have prompted health-conscious consumers to choose healthy and sugar-free drinks. Due to an increase in promotional and advertising techniques, the energy drink industry is also expected to grow.


The cans segment has dominated the market share of the global energy drinks market in 2020 owing to the increased demand across the young and old millennials across the world. Easy handling and availability is propelling the growth of the global energy drinks market. The shots held the largest market share in 2020 of the global energy drinks market attributing to the increasing demand for user friendly smart devices in turn growing sales of Shots smart monitors. Easy use and simple design are some of the features which is fueling the growth of the global energy drinks market. The convenience stores segment is dominated the market share in 2020 owing to the growing number of retail shops is increasing in both urban and rural locations. Furthermore, the availability of many types of monitors in these convenience stores is a crucial element driving baby monitor sales through convenience stores.

Global Energy Drinks Market Size

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North America region is dominating the market share of global energy drinks market owing to the high product adoption by consumers and increased consumption of carbonated beverages along with awareness regarding sustainability. Presence of major players and increased consumer awareness in the region is boosting the sales of the global energy drinks market. For instance, in January 2019, Coca-Cola is planning to launch energy drink in the U.S. with the flavor of cherry. However, Asia Pacific is expected to witness highest growth rate during the forecast period of beverage cans market due to the rising population and urbanization activities. Increased number of athletes and the growing popularity of various exercise activities are fueling the growth of the global energy drinks market. According to the Special Olympics, India saw the most growth in 2018, with around 80,000 new child athletes. However, rising middle-class customers with changing lifestyles, particularly in emerging nations like China and India, are driving demand for naturally flavored sports drinks.


KEY INDUSTRY DEVELOPMENTS:


March 2021- Red Bull announced to launch a new Dragon Fruit flavor. The can contains 27 grams of sugar plus 80 milligrams of caffeine—almost the same amount of caffeine as a home-brewed cup of coffee.


January 2021- Monster Energy announced its latest addition to the Monster Energy Ultra family, Ultra Gold, inspired by the ancient Greek legendary libation nectar of ambrosia. The Ultra Gold energy drink claims to be sugar free.


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https://extrapolate.com/Food-Beverage/energy-drinks/25653



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