Energizing Trends in the Global Energy Drinks Market
Energy Drinks Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON , UK, January 3, 2024 /EINPresswire.com/ -- The global energy drinks market exhibited robust growth, escalating from $58.48 billion in 2022 to $62.89 billion in 2023 at a commendable Compound Annual Growth Rate (CAGR) of 7.5%. The energy drinks market is poised for further expansion, with an anticipated size of $83.83 billion in 2027, projecting a sustained CAGR of 7.5%.
Rising Role of E-Commerce:
The energy drinks market is experiencing a notable boost driven by increased demand on emerging distribution channels, notably e-commerce. The convenience of shopping from anywhere, the widespread adoption of smartphones, affordable access to technology, competitive online pricing, and other factors contribute to the growing preference for energy drinks through e-commerce platforms. This shift is pivotal, ensuring significant sales as e-commerce plays a crucial role in efficiently distributing energy drinks to consumers. An illustrative example is Celsius Holdings Inc., a US-based fitness drink maker, which reported a substantial surge in online sales volume in April 2020, driven by new e-commerce partnerships and marketing initiatives. With a remarkable increase of over 167% in the average daily online sales volume of energy drinks compared to the previous year, this highlights the accelerating trend of consumers choosing home delivery and pick-up services for their beverage needs.
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Energy Drinks Market Key Players Fueling Innovation3:
Major players in the energy drinks market, including Red Bull GmbH, Monster Beverage Corporation, PepsiCo, and Coca-Cola Company, are actively driving innovation. The strategic addition of new flavors to energy drinks is emerging as a key trend, providing consumers with diverse taste options and additional health benefits. For instance, Red Bull introduced Coconut Edition Sugar-free energy drinks in 2021, combining new flavors like coconut with B-group vitamins, taurine, and acesulfame-K as a sweetening agent. Such innovations aim to attract new customers and enhance overall sales, showcasing the dynamism of the energy drinks market.
Geographical Dynamics:
North America emerged as the largest region in the energy drinks market in 2022, while the Asia-Pacific region is anticipated to exhibit the fastest growth during the forecast period. The comprehensive regional coverage includes Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Energy Drinks Market Segmentation2:
The global energy drinks market is segmented based on product type, packaging, and distribution channel:
• Product Type: Drinks, Shots, Mixers
• Packaging: Bottle, Can, Other Packagings
• Distribution Channel: Convenience Store, Supermarket/Hypermarket, Pharmacies/Health Stores, Online Retail
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Energy Drinks Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Energy Drinks Global Market Report 2023 by The Business Research Company1 is the most comprehensive energy drinks market report that provides insights on energy drinks market size, energy drinks market drivers and trends, energy drinks market major players, energy drinks market competitors' revenues, energy drinks market positioning, and energy drinks market growth across geographies. The energy drinks market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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