QYResearch: The Global Energy Drinks Market Size Will Reach USD 61.69 Billion in 2022
Analyst: Wu Xiaomei
Company: QYResearch
The global baking ingredients market size will reach USD 61.69 billion in 2022 at a CAGR of 6.2% from 2016 to 2022 on account of growing consumer’s health consciousness and hectic lifestyle. These beverages are intended to give instant energy along with providing mental and physical stimulation. The main ingredients, which helps in providing stimuli, is caffeine. Taurine is another major component, which is essential for cardiovascular function and skeletal muscle development.
Energy beverages consumption has turned into a status symbol, especially for the youth. Such consumer behavior type is expected to drive further the overall demand. Consumption of alcohol mixed with these energy beverages is quite popular in urban areas. Moreover, some of the regular party goer’s prefer mild alcoholic beverages, this has led to high demand for alcoholic energy drinks which contains an average of around 2% to 5% of alcohol by volume specially in the mature economies such as UK, Australia, the U.S., and Spain.
The alcoholic segment was worth USD 22.34 billion in 2016. These alcoholic energy drinks rapidly gained popularity among the party goers over the past decade. Also, lack of knowledge about the choice of drinks is expected to drive the market of alcoholic energy drinks.
The non-alcoholic segment is projected to witness high consumption growth rates and over take the alcoholic sector to emerge as the largest segment by next five years. Growing awareness among the consumers about its benefits and the ill effects of consumption of its counterparts are projected to aid the global market.
The adults were largest and fastest target consumer segment. There is a growing population of athletes and corporates, who consumes these products for an extra shot of energy to increase their performance. This is expected to aid the growth of these products in the future.
The teenager consumer category has been projected to observe moderate growth and penetration in the global market and the consumption of energy drinks by teenagers happens to be a status symbol for the population, which will increase the market growth over the estimated year.
Asia Pacific held the highest regional demand where young adult population mostly drives the market. India and China have shown significant growth in the retail sector, which shows ample opportunities for marketing the product in the region. The rising popularity of sports in China has a huge potential for promoting their brand and create a sense of recognition and loyalty among the customer.
The population in Thailand consider energy drinks as functional, in the sense that it helps them stay awake and work harder. Sponsoring sports events and competitions from key players and marketing of these beverages under the pretext of music festivals are expected to continue from the key player’s end to capture mass sales.
The North America energy drinks market has generated the largest turnover over the past several years. It was valued at USD 15.44 billion in 2016. Due to rapid urbanization, many people live a very hectic lifestyle in the U.S. This has resulted in an increased dependence on energy drinks to boost them with an instant drive. Also, these drinks are marketed as a healthier alternative to carbonated beverages especially for health-conscious people.
Middle East and Latin America are emerging markets that are expected to grow at an increasing rate as a result of increased marketing efforts by the major market players.
The major players operating in the global energy drinks industry include Red Bull GmbH, PepsiCo. Inc, Monster Energy, Rockstar, Inc., Taisho Pharmaceutical Co. Ltd, Amway Global (Xs Energy), and Coco Cola Company. Competitive pricing, product improvements and sponsoring sporting events are the major strategies of companies.
This article was first released by QYResearch analyst, if reproduced, please indicate the source.
Marketing: sales@qyresearch.com
Analyst: wuxiaomei@qyresearch.com
Media Contact: press@qyresearch.com
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