The global demand for energy drinks market will increase positively in 2022, surpassing US$ 37.80 Billion. Driven by the rise in health consciousness, as well as changes in consumer lifestyle and increased awareness of health wellness goods, the market is expected to register growth at a CAGR of approximately 8% by 2031.
Due to several ingredients in these energy drinks that have significant health benefits, the market for energy drinks is benefiting from consumer desire. These drinks are rich in vitamin B, which helps to stave off cancer and heart disease. These energy drinks can benefit people with low blood lipids and arthritic symptoms due to their high niacin content.
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Key manufacturers priorities product innovation to gain a competitive advantage. Product launches may assist businesses in capitalizing on the enormous development potential in developing regions. The majority of firms raise product awareness through advertising and celebrity endorsement. Recent developments in the energy drinks landscape are as follows:
- In March 2021, PepsiCo Inc. announced the introduction of a new line of energy drinks titled Mtn Dew Rise Energy under its Mountain Dew product range, with assistance from NBA superstar LeBron James. Every 16-ounce will contain Vitamins A & C and zinc to support the immune system
- In January 2020, Coca Cola introduced its first energy drink called Coca-Cola Energy in the U.S, devoid of any soda under four flavors: Coca Cola Energy, Coca Cola Energy Zero Sugar, Coca Cola Energy Cherry and Coca Cola Energy Cherry Zero Sugar. However, this was cut short when the company decided to withdraw the product in the post-pandemic era
Which are Some Prominent Drivers of Energy Drinks Market?
Growing Demand in the Healthcare Sector Impacting Sales
The market for energy drinks is witnessing the benefits of customer preference due to numerous components in these energy drinks that have substantial health benefits. These beverages are high in vitamin B, which aids in the prevention of heart disease and cancer. Because of the high niacin content, these energy drinks can help those with low blood lipids and arthritic symptoms.
These beverages also include pantothenic acid, which aids in the treatment of allergies, skin disorders, stress and anxiety. Furthermore, the rise in riboflavin content, which aids in the treatment of blood problems and muscular cramps, has contributed significantly to the growth of the energy drinks industry. As a result of these reasons, the demand for energy drinks in the healthcare business has remained constant.
Sports Industry Driving the Energy Drinks Industry
The energy drink industry is anticipated to expand significantly, with strong demand across the sports industry. Sales among sportsmen and athletes looking to improve their performance and stamina are surging impressively.
The carbohydrate content in these energy drinks, according to the Australian Institute of Sports Nutrition, aids in performance by assisting in recovery and increasing energy. Caffeine’s ergogenic assistance also allows athletes to improve their performance. As a result of these reasons, the market will see considerable growth in the sports industry.
Product Innovation Aiding Energy Drinks Sales
Energy drinks are especially popular among college students and business workers as a coffee replacement that helps them stay awake at work. Furthermore, because they are utilized as mixers in popular alcoholic beverages, these energy drinks are gaining appeal.
Key Segments Covered in Report:
· By Product Type :
· By Nature :
· By Distribution Channel :
- Modern Trade
- Drug Stores
- Convenience Store
- Other Retail Format
· By Region :
- North America
- Latin America
- Middle East & Africa
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