The energy drinks market is on a strong growth path, moving from $62.85 billion in 2023 to $67.64 billion in 2024, recording a CAGR of 7.6%. This growth is driven by effective marketing strategies and innovations in formulations. The market is projected to reach $90.49 billion by 2028, influenced by health trends and the growing demand for functional ingredients.
Major Driver In The Energy Drinks Market
The energy drink market is set to grow with the expansion of the e-commerce industry. E-commerce, involving online buying and selling, plays a pivotal role in the energy drink sector by providing a convenient platform for consumers to explore and purchase products. This expansion is evident in the UK, as reported by the International Trade Administration in November 2023, ranking it as the world's third-largest e-commerce market after China. As of January 2021, U.S. consumer e-commerce accounted for 36.3% of the UK's total retail market, with projected revenue reaching $285.60 billion by 2025. The significant influence of e-commerce is propelling the growth of the energy drink market, with a projected market size of [2024: Value].
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Energy Drinks Market Competitive Landscape
The Taisho Pharmaceutical Co. Ltd., Nestle S.A., PepsiCo, Unilever plc, Coca-Cola Company, Mondelez International Inc., The Kraft Heinz Company, Suntory Holdings Limited, The Hershey Company, Red Bull GmbH, Campbell Soup Company, Amway Corporation, The J.M. Smucker Company, Monster Beverage Corporation, Franchise Group Inc., Arizona Beverage Company, Dali Foods Group Company Limited, The Gatorade Company Inc., National Beverage Corp., Osotspa Public Company Limited, Celsius Holdings Inc., Vital Pharmaceuticals Inc., Rockstar Inc., Xyience Inc., Power Horse Energy Drinks GmbH, Eastroc Beverage (Group) Co. Ltd., Living Essentials LLC, Bundled LLC, Metta Beverage Inc., Zydus Lifesciences Limited
Key Energy Drinks Market Trend
The introduction of new flavors is a significant trend in the energy drinks market. Companies are adding flavors like coconut and cola to attract customers and boost sales. For example, in April 2021, Red Bull launched Coconut Edition Sugar-Free energy drinks in 25cl and 35cl cans, enriched with B-group vitamins and taurine. Similarly, Rockstar Inc. introduced new flavored energy drinks such as Rockstar Recovery in Marshmallow, expanding their product range to cater to diverse consumer preferences.
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Energy Drinks Market Segmentation
The energy drinks market covered in this report is segmented –
1) By Product Type: Drinks, Shots, Mixers
2) By Packaging: Bottle, Can, Other Packagings
3) By Distribution Channel: Convenience Store, Supermarket/Hypermarket, Pharmacies/Health Stores, Online Retail
By Geography:The regions covered in the energy drinks 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 drinks market in 2023.
The Energy Drinks Global Market Report 2024 furnishes information about the global energy drinks market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
