Global Energy Ingredients Market Size 2024, Forecast To 2033
6 Mar, 2024
The energy ingredients market has witnessed strong growth, escalating from $24.31 billion in 2023 to $26.3 billion in 2024, demonstrating a notable compound annual growth rate (CAGR) of 8.2% during the historic period. This growth is attributed to concerns about fossil fuel dependency, government initiatives and incentives, the rising prices of conventional energy sources, the integration of renewable energy into power grids, and global efforts to reduce carbon emissions. Looking ahead to the next few years, the market is expected to sustain strong growth, projecting a size of $36.07 billion in 2028 at a CAGR of 8.2%. Anticipated drivers for this growth include the increasing focus on hydrogen as a clean energy carrier, the global transition to renewable energy, a heightened emphasis on energy efficiency, the application of circular economy principles in energy production, and rural electrification programs. Key trends in the forecast period encompass natural and clean label ingredients, plant-based energy ingredients, innovations in functional beverages, sustainable and ethical sourcing, customized and personalized nutrition, along with the adoption of clean energy alternatives.
Global Energy Ingredients Market Key Driver
The growth of the energy ingredients market is anticipated to be fueled by increasing demand from end users, particularly the food and beverage industry. This sector encompasses businesses engaged in the processing, packaging, and distribution of uncooked food items. Energy ingredients play a vital role in various food products and beverages, offering nutritional supplements beneficial for individuals' health. For instance, in 2023, the Food & Drink Federation reported a 31% increase in food and drink exports in 2022 compared to the previous year. Furthermore, the industry boasted a turnover of $3.52 billion (£10.3 billion) in 2022, constituting 33% of total Scottish manufacturing. Consequently, the escalating demand from end users like the food and beverage industry drives the expansion of the energy ingredients market in 2023, 2024, and 2028.
Get A Free Sample Of The Global Energy Ingredients Market ReportGlobal Energy Ingredients Market Segments
The energy ingredients market covered in this report is segmented –
1) By Product: Caffeine, Creatine, Taurine, Ginseng, Other Products
2) By Distribution Channel: Supermarkets Or Hypermarkets, Specialty Stores, Convenience Stores, Online Retail Stores, Other Distribution Channels
3) By Application: Food, Beverage, Supplements, Other Applications
By Geography:The regions covered in the energy ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the energy ingredients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global energy ingredients market during the forecast period. The regions covered in the energy ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Energy Ingredients Industry Players
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
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Energy Ingredients Market Overview
Energy ingredients refer to the ingredients that are used for energy or powdered drinks for the consumption of customers. It is used in energy drinks to give energy and health benefits to people of all ages.
Energy Ingredients Global Market Report 2023 provides data on the global energy ingredients market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The energy ingredients market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.