The energy drinks market was valued at $45.80 billion in 2020, and is estimated to reach $108.40 billion by 2031, growing at a CAGR of 8.2% from 2022 to 2031.
The adults segment accounted for maximum share in 2020. Energy drinks are beverages that contain caffeine, taurine, vitamins, & other stimulants, and are marketed as products that boost mental alertness and physical stamina. They may or may not be carbonated. The demand for energy drinks and related items has increased at an alarming rate, according to reports. This is due to the advantages that these beverages provide, such as improved performance, focus, weight loss, stamina, and so on. Furthermore, consumers, particularly men, positively link energy drink intake with risk-taking activities and masculinity. Furthermore, energy drinks have more caffeine than a cup of coffee and can help with alertness and concentration. Owing to surge in demand for items that provide rapid energy, manufacturers create a variety of products with distinct flavors and tastes. This, in turn, is expected to support the global energy drinks market growth.
The nonalcoholic segment accounted for the highest energy drinks market share in 2020, garnering a share of 53.9%, owing to the fact that such products boost the energy by improving physical and cognitive performance. This segment is also estimated to witness a healthy growth in the energy drinks market in the future.
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The alcoholic energy drinks segment accounted for 46.1% of the total market in 2020, due to increase in consumption of alcoholic beverages by regular party goers. This has led to surge in demand for alcoholic energy drinks. In addition, it has turned into a status symbol, especially for teenagers; therefore, consumption of alcoholic energy drinks has witnessed increased popularity, thereby boosting the energy drinks market opportunities.
KEY FINDINGS OF THE STUDY
- Region wise, Asia-Pacific is anticipated to lead the market in 2031, growing at a CAGR of 8.8%, from 2022 to 2031.
- By type, the nonalcoholic segment occupied nearly 53.9% of the energy drink market share in 2020.
- By end user, the adult segment dominated the overall energy drinks market size in 2020, and is expected to grow at a CAGR of 46.1% during the forecast period.
- The kids segment is anticipated to grow at asignificant CAGR of 14.4%.
The major companies profiled in the report include are Red Bull, Monster Beverage Corporation, Rockstar Inc., The Coca-Cola Company, PepsiCo, Arizona Beverage Company, National Beverage Corp., Dr. Pepper Snapple Group, Living Essentials, and Cloud 9.
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