Energy Drink Market to Surpass USD 109 Billion by 2028

Published | 22 April 2022

The energy drink market is growing at a high CAGR because of the rising health consciousness among consumers along with the shift from soft drinks and alcoholic beverages increasing product launches of different flavors and ranges and rising availability through both online and offline stores…

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the energy drink market was worth USD 63.6 billion in the year 2021. The market is projected to grow at a CAGR of 8.20%, with revenues reaching USD 109.9 billion by 2028. The energy drink market is flourishing at a high rate owing to the rising health consciousness among consumers along with the shift from soft drinks and alcoholic beverages. Furthermore, increasing product launches of different flavors and ranges and rising availability through both online and offline stores are anticipated to drive market growth in the forecast period. However, the negative health impact of the excessive consumption of energy drinks may act as a huge restraining factor for the market.

Surging Launches of New Products is Driving Energy Drink Market Growth

With the rising demand for energy drinks in the market, the companies are constantly launching new products to attract consumers and boost their sales. They are focusing on launching different flavors and ingredients that suit the different taste preferences of consumers. PepsiCo.’s energy drink Rockstar is launching Rockstar Unplugged, made of ingredients such as hemp seed oil, B vitamins, spearmint, lemon balm, etc. The companies are also streamlining their distribution system to increase their product penetration in new and potential markets, which is anticipated to drive the overall market growth.

Rising Demand from On-Trade Channels is Propelling Energy Drink Market Growth

The demand for energy drinks is registering significant demand from the on-trade channels. The number of bars, restaurants, hotels, nightclubs, etc., is increasing at a high rate owing to the rapid urbanization and changing lifestyle of consumers. Furthermore, flourishing tourism in different parts of the world is also influencing the rising number of on-trade channels. This is anticipated to boost the demand for energy drinks in the forecast period.

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Energy Drink Market - By Distribution Channel

Based on the distribution channel, the energy drink market is segmented into supermarkets/hypermarkets, specialty stores, convenience stores, online retail stores, and others. The convenience stores segment accounts for the largest market share owing to the availability of a wide range of products of different brands and flavors under one roof. Consumers can easily buy bulk products from these stores during an event. The supermarkets/hypermarkets segment also accounts for a significant market share.

Energy Drink Market - Regional Insights

Geographically, the energy drink market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America dominates the energy drink market. However, the Asia-Pacific region is projected to witness the highest growth rate during the forecast period owing to the presence of diverse consumer cases due to the high population. The Asian countries have different taste preferences. Therefore, the companies launch different types of energy drinks to match the needs of regional consumers, which is significantly influencing the growth of the market.

Impact of COVID-19 on Energy Drink Market

The energy drink market witnessed tremendous growth post the COVID-19 pandemic outbreak. This is because of the negative influence of pandemics on the physical and mental health of the people. The fitness clubs and gyms were closed, and people were impeded to work from homes during the quarantine period. All these factors caused severe burnout and lethargy. Due to this, the focus on one’s health and need for healthy consumption surged, fueling the demand for energy drinks during the pandemic period.

Competitive Landscape

The leading market players of the energy drink market are Red Bull GmbH, Suntory Holdings Limited, PepsiCo Inc. AriZona Beverages USA, Monster Energy, Living Essentials LLC, The Coca-Cola Company, Campbell Soup Company, National Beverage Corp., Amway Corp., Xyience Energy, Living Essentials Marketing LLC, Metta Beverage Corp., National Beverage Corp., Suntory Holdings Limited, Taisho Pharmaceutical Co. Ltd. and other prominent players.

The energy drink market is highly competitive with the presence of several global and regional market players. The companies constantly launch new products with different flavors and additives to suit consumers’ tastes and preferences. They also focus on improving their supply chain and launching their products in new markets to boost their sales and revenue. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

Don’t miss the business opportunity of the energy drink market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the energy drink market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the energy drink market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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