NEW YORK, Dec. 20, 2021 /PRNewswire/ -- Energy Drinks Market Facts at a Glance-
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According to the recent market study by Technavio, the Energy Drinks Market Size is expected to increase by USD 24.18 billion from 2019 to 2024, with an accelerated CAGR of over 7% during the forecast period. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
APAC will register the highest growth rate, occupying 37% of the global market share. China, Japan, and India are the key markets for energy drinks in APAC. The market will witness faster growth in APAC than in other regions during the forecast period.
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Vendor Insights-
The energy drinks market is fragmented and is characterized by the presence of a large number of regional and global players. The growing competition in the market is driving vendors to focus on mergers and acquisitions and new product launches to gain an edge over their rivals.
AriZona Beverages USA LLC: In August 2019, the company formed a strategic partnership with Dixie Brands Inc. to launch the collection of THC-infused cannabis products. In April 2020, the company announced the launch of vodka-based hard green tea.
Dabur India Ltd.: In February 2019, the company announced the expansion of the ayurvedic medicines portfolio with the launch of two new products- Ratnaprash and Hridayasava.
Monster Energy Co.: In January 2020, the company announced the launch of Monster Pacific Punch and Monster Ultra Paradise, the new tropical-flavored variant energy drinks.
National Beverage Corp.: In March 2020, the company announced the launch of two new products: LaCroix LimonCello and Pastèque sparkling waters.
The Coca-Cola Company: In January 2019, the company announced the acquisition of Costa Limited from Whitbread Plc. In January 2019, Coca-Cola India announced the launch of a new juice-based sparkling drink, Minute Maid Colour.
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Regional Market Outlook
The energy drinks market growth in APAC will be significant during the forecast period. The region will provide maximum growth opportunities for vendors. Factors such as increasing disposable incomes, growth in organized retail, and the proliferation of private label brands will be crucial in driving the growth of the energy drinks market in APAC. Also, the increasing demand for new flavored drinks and health-oriented energy drinks will contribute to the market's growth in APAC.
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Latest Drivers & Trends Driving the Market-
The growth in globalization, changes in lifestyles, and work practices among other aspects have made consumers' lives more hectic. The need to survive in such a competitive environment is driving the demand for energy-stimulating drinks among consumers. Energy drinks are rich in ingredients such as ginseng, caffeine, and others, that keep the body and mind alert. For example, caffeine used in energy drinks helps increase overall productivity by increasing alertness. Some energy drinks contain essential vitamins and electrolytes that help restore energy levels instantly after a tiring work schedule. Such benefits have increased the consumption of energy drinks, which is driving market growth.
The growing occurrence of various diseases has made consumers more health-conscious. This has increased the demand for food and beverage products that are low in calories and offer health benefits. To capitalize on this trend, vendors in the market are starting to offer sugar-free variants of energy drinks. Prominent energy drink manufacturers such as Red Bull and The Coco-Cola Co. have already launched low and zero-calorie versions of their popular energy drinks. Such developments among vendors will have a positive impact on the growth of the market during the forecast period.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
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Sugar-Free Food and Beverage Market by Product and Geography - Forecast and Analysis 2021-2025
Functional Drinks Market by Product and Geography - Forecast and Analysis 2021-2025
Energy Drinks Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7% |
Market growth 2020-2024 |
USD 24.18 billion |
Market structure |
Fragmented |
YoY growth (%) |
-6.58 |
Regional analysis |
APAC, North America, Europe, South America, and MEA |
Performing market contribution |
APAC at 37% |
Key consumer countries |
US, China, Germany, Japan, UK, and India |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
AriZona Beverages USA LLC, Dabur India Ltd., Living Essentials Marketing LLC, Monster Energy Co., Mutalo Group, National Beverage Corp., PepsiCo Inc., Red Bull GmbH, The Coca Cola Company, and Vitale Beverages Pvt. Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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