Just how much is the energy drink industry worth? Technavio predicts that the global energy drink market growth rate will continue surging — increasing by USD 46.67 billion by 2022. Technavio also anticipates that the global energy drink market is expected to grow at CAGR of 11% between 2018-2022. According to Technavio, the major factor driving the future growth rate of the energy drink market is the on-the-go consumption pattern among consumers. Additionally, the increasing awareness around health and wellness continues to be a major factor for the growth of the global sports and energy drink market. Consumers are more willing to spend money on eating and drinking healthy products as it’s becoming a lifestyle trend.
What exactly is an energy drink and when did energy drinks become popular? An energy drink is a type of drink containing stimulant compounds, oftentimes caffeine. Energy drinks are marketed by companies as providing mental and physical stimulation. Energy drinks are sometimes carbonated and may contain sugar, other sweeteners, herbal extracts, taurine, and amino acids. So why are energy drinks so popular? According to Technavio, a primary reason energy drinks are so popular is due to the significance of health and wellness among consumers, especially against the backdrop of costly healthcare.
Around the world, the energy drink market growth rate continues to increase. The sports and energy drinks market appear to be fragmented with companies focusing on developing a wide range of products to meet the rising consumer demand and eventually improve their market position. Technavio’s energy drink industry analysis identifies that consumers appear to have less time preparing functional beverages at home — which has led to the demand for on-the-go sports and energy drink products. These ready-to-go products provide consumers with a range of options to choose from as well as supply essential dietary supplements. On-the-go consumption is one of the key trends in the sports and energy drinks market, which is likely to stimulate the demand and overall market growth by 2022.
In a market that demands on-the-go products to meet demand, Technavio predicts that the global energy drinks market will post a compound annual growth rate (CAGR) of 11% between 2018 to 2022. According to Technavio, the sports and energy drinks market size will grow by USD 46.67 billion during 2018-2022.
Consumers today are always on the move and seek sports and energy drinks and other functional drinks that offer high nutritional value to meet the needs of their busy lifestyle. These ready-to-go products provide consumers with a range of options and also supply their essential dietary requirements. The on-the-go attribute of sports and energy drinks gives people the time, pleasure, flexibility, and enjoyment associated with a healthy lifestyle.
Many athletes and fitness-oriented individuals consume sports and energy drinks while working out as they offer essential nutrients that are needed to carry out extensive physical activities. This is in addition to the rising attention to pre and post-workout routines that can sometimes also involve the consumption of energy drinks.
“Apart from factors such as on the go consumption, other aspects driving the growth of the market are new product launches by known brands, increasing demand for functional beverages and growing use of sports drinks as mixers with alcohol,”
says a senior analyst at Technavio for research on non-alcoholic beverages.
Technavio’s report does a deep dive analysis of the various factors affecting the global energy drink market growth rate and size. What companies are leading the way for the energy drink market? According to Technavio, the largest energy drink companies in the world are Monster Energy Company, PepsiCo, Red Bull, Rockstar, and The Coca-Cola Company. From a geographical market segment standpoint, the APAC region continues to lead the way making up 46% of the energy drink market share, followed by EMEA and APAC respectively. However, between 2018 and 2022, the EMEA region is expected to register the highest incremental growth in the global energy drink market.
Technavio's report goes into detail about the main segmentations in the market, the standard energy drink segment currently accounts for the largest energy drink market share owing to the young population and athletes preferring this type of energy drink. The energy drink market also includes organic energy drinks, non-organic energy drinks, and natural energy drinks; additionally, it includes energy shots such as caffeinated and relaxation drinks; alcoholic energy drinks; and non-alcoholic energy drinks. In addition to the energy drinks segment, the sports drinks segment also occupy a large market share in the industry.
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According to Technavio the follow companies continue to lead the global energy drink market.
Monster Energy is an energy drink introduced in 2002. There are 34 different drinks under the Monster brand in North America, including its core Monster Energy line, Java Monster, Extra Strength, Import, Rehab and Muscle Monster.
PepsiCo, Inc. is an American multinational food, snack, and beverage corporation headquartered in Harrison, New York.
Red Bull is an energy drink sold by Austrian company Red Bull GmbH.
Rockstar is an energy drink created in 2001. Rockstar is based in Las Vegas
The Coca-Cola Company is an American multinational corporation and manufacturer known for its non-alcoholic beverage concentrates and syrups.
To learn more about the companies dominating the market, view our report.
Technavio’s report is highlighted by an in-depth analysis and predictions on customer needs such as the demand for ready-to-go drinks leading to the expansion of the global energy drink market growth rate. Technavio’s market research insights also cover the variety of factors accelerating growth in the sports and energy drinks industry. The report also dives into a comprehensive analysis of the global as well as regional markets of energy drinks; including a detailed analysis of what is leading to growing demand from APAC, Americas, and EMEA regions.
Technavio is a global market research company specializing in niche and emerging technologies. The company has published over 15,000 reports on hundreds of industries and technologies, serving more than 1,000 organizations globally and over 100 Fortune 500 companies. Its offerings include syndicated research, subscription services, and custom research offerings to help businesses make fast, effective, well-founded decisions. Headquartered in London, UK and with offices across 7 countries, Technavio’s 500 in-house analysts and 16 years of experience allow the company to offer unmatched insights into countless markets. Discover what Technavio can do for you at https://www.technavio.com/
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