Newark, DE--The global energy drink market is anticipated to reach a value of US$ 68.1 Bn in 2022, with sales growing at a healthy CAGR of 7.0% over the forecast period of 2022-2032. The market is estimated to reach US$ 98.8 Bn by 2032. The increasing popularity of energy drinks coupled with a wide variety of products offered in the market and a growing consumer base will presumably boost the market over the forecast period.
Energy drinks are part of the soft drink or non-alcoholic beverage market, composed of bottled water, fruit and vegetable juices, carbonated drinks, sports drinks, caffeinated beverages, ready-to-drink tea and coffee, non-carbonated packaged drinks, and many other functional beverages. Though energy drinks ingredients vary from product to product, the main ingredients in these energy drinks are sugar and caffeine. Sugar is a source of energy, while caffeine is a stimulant that increases alertness and energy.
The market for energy drinks is driven by a large consumer base of all ages and a growing focus on health and fitness. Natural energy drinks extracted and directly sold to consumers are gaining traction among fitness enthusiasts, while sports energy drinks are popular among e-sports players and gamers. The energy drinks market is primarily driven by a “demand for more” - consumers are eager to experiment and interested in gaining a multi-sensory drinking experience.
“Growing adoption of energy drinks as a substitute for alcohol in the West and increasing health consciousness all over the world is expected to augment the growth in the market over the forecast period,” said an FMI analyst in a press release.
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