Rising health awareness, changing lifestyle of consumers and increasing demand for health and wellness products have boosted the growth of the global energy drink market.
PORTLAND, Oregon., April 21, 2022 /PRNewswire/ — Allied Market Research recently released a report titled, “energy drink market By Type (Alcoholic, Non-Alcoholic), By End-User (Children, Adults, Teens): Global Opportunities Analysis and Industry Forecast, 2020-2031″. According to the report, the global energy drink industry was pegged on $45.8 billion in 2020, and should reach $108.4 billion by 2031, growing at a CAGR of 8.2% from 2022 to 2031.
Drivers, constraints and opportunities
Rising health awareness, changing lifestyle of consumers and increasing demand for health and wellness products have boosted the growth of the global energy drink market. However, an overdose of caffeine can cause nausea, high blood pressure, and restlessness. This factor is hampering the growth of the market. On the contrary, consumer preference for beverage consumption would open up new opportunities in the future.
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- The Covid-19 pandemic has disrupted the supply chain. Labor shortages and the prolonged lockdown have created challenges in manufacturing facilities and raw material supply.
- Also, as several sports activities have been postponed due to the pandemic, the demand for energy drinks has decreased.
Non-alcoholic segment to show highest CAGR through 2031
By type, the non-alcoholic segment is estimated to register the highest CAGR of 8.3% during the forecast period. Furthermore, the segment led the market in terms of revenue, contributing more than half of the global energy drinks market in 2020, due to the presence of caffeine in non-alcoholic energy drinks that increase alertness and improve mental health. mood. The report includes alcoholic segment analysis.
The adult segment held the largest share
By end-user, the adult segment held the largest share in 2020, contributing nearly half of the global energy drink market. Furthermore, the segment is estimated to register the highest CAGR of 8.5% during the forecast period, owing to the increase in the consumption of energy drinks by working adults to maintain a lifestyle. healthy. The report includes analysis of children and adolescents segments.
North America held the lion’s share
By region, the market across North America held the largest share in 2020, accounting for approximately one-third of the market, owing to the increase in health problems and increased awareness of the benefits of consuming energy drinks. However, the global energy drink market across Asia Pacific is expected to show the highest CAGR of 8.8% during the forecast period, owing to the easy availability of energy drinks on multiple platforms from modern commerce to online sales channel.
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Main market players
- Red Bull
- Monster Beverage Corporation
- Rockstar Inc.
- The Coca-Cola Company
- Arizona Beverage Company
- National Beverage Company
- Dr. Pepper Snapple Group
- Life Essentials
- Cloud 9
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SOURCE Allied Market Research