Energy Supplement Market Value Set to Total USD 69.4 Billion by 2034, Spurred by Growing Health Consciousness | Future Market Insights, Inc.

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Jul 11, 2024, 10:01 ET

The United States, holding a 24.3% market share in 2024, sees rising demand for functional beverages. With energy supplement consumption projected to grow at a 5.5% CAGR over the next decade, the trend is driven by fitness enthusiasts and a preference for natural ingredients, boosting the industry's growth prospects.

NEWARK, Del. , July 11, 2024 /PRNewswire/ -- The global energy supplement market value is forecast to total USD 43.7 billion in 2024 and USD 69.4 billion by 2034. Global energy supplement demand is anticipated to increase at a CAGR of 4.7% during the assessment period.

One of the prominent factors fueling growth of the energy supplement industry is the increasing awareness about health and fitness among consumers. Similarly, growing demand for convenient energy-boosting supplements is set to boost sales growth.

Consumers are shifting towards a healthier life by involving in activities such as going to the gym, exercising, cycling, or yoga to keep themselves healthy. This extra activity, in addition to regular work, needs extra energy for body maintenance, leading to high consumption of energy supplements.

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The target market is set to grow steadily as more and more youth are involved in sports activities. Also new adventure sports are added and accepted by sports enthusiasts. This will likely create lucrative growth prospects for companies.

Leading players are concentrating on creating new formulations and delivery methods to cater to evolving consumer needs and preferences. Many new flavors are being added to allow consumers to choose from. These innovations will positively impact industry growth during the assessment period.

Key Takeaways from the Report:

The global energy supplements market is set to total USD 69.4 billion by 2034.
By product type, the energy drinks segment is forecast to account for a value share of 42.1% in 2024.
Based on the distribution channel, the store-based retail category will likely hold a market share of 54.3% in 2024.
The United States is poised to record a CAGR of 5.5% through 2034.
Demand in India is predicted to increase at 7.2% CAGR between 2024 and 2034.

"The energy supplement industry is poised to witness a steady growth trajectory due to the increasing demand for portable and easy on-to-go energy supplements during heavy physical activities. However, regulatory compliances of various regions along with sourcing of raw materials may restrict new product launches in the market." - Nandini Roy Choudhury, Client Partner at Future Market Insights

Who is Winning?

Amway corporations, Herbalife Nutrition, Glanbia Nutrition, PepsiCo Holdings, Red Bull, Herbaland, BUILD, and others are the few leading players operating in this market. Key players are constantly focusing on developing new formulations with innovative flavors and formats to cater to the specific requirements of consumers.

Strategies like acquisitions, mergers, partnerships, and distribution agreements are becoming popular in the industry. Similarly, companies are using extensive marketing strategies to increase their customer base and stay ahead of the competition.

Industry Update:

In 2024, United States-based Rockstar Energy Drinks introduced Rockstar Focus to strengthen its energy drink portfolio.

Leading Energy Supplement Brands

Amway Corporation
Herbalife Nutrition Ltd.
Glanbia Nutritionals Inc.
PepsiCo Holdings
Red Bull GmbH
Herbaland
Rockstar, Inc.
Celsius

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Country wise Insights

Countries	CAGR 2024 to 2034
United States Energy Supplement Market	5.5 %
Germany Energy Supplement Market	4.4 %
India Energy Supplement Market	7.2 %
Australia Energy Supplement Market	8.1 %

Get More Valuable Insights

Future Market Insights (FMI) has released an objective assessment of the global energy supplement market, presenting past demand data from 2019 to 2023 and projecting forecast statistics for the 2024 to 2034 period.

The study provides compelling industry insights based on product type (drinks, powders, capsules, tablets, gummies, others (gel, energy bars)), end-user (kids/infants, adults/teenagers, old age), distribution channel (store-based retail-hypermarket/supermarkets, pharmacies or drug stores, grocery store, specialty stores, discount store, online retail), and region (North America, Latin America, Europe, East Asia, South Asia, and the Middle East & Africa).

Report Preview: https://www.futuremarketinsights.com/reports/energy-supplement-market

Authored by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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