Rise in popularity among teenagers and surge in health consciousness are anticipated to foster the growth of the nonalcoholic energy drinks segment during the forecast period.Įasy availability of energy drinks in diversified platforms ranging from modern trade to online sales channel has resulted in expansion of global market. This is attributed to the fact that over the past few years, the nonalcoholic energy drinks segment has been transformed from being a niche product category to one of the most rapidly growing product categories in the global energy drinks market. Furthermore, this segment is expected to grow at a significant rate during the forecast period. This segment captured the maximum share in 2020.
In addition, presence of caffeine in nonalcoholic energy drinks provides the user with increased alertness, improved memory, and elevated mood.
In 2020, the nonalcoholic segment accounted for the highest share in the market, garnering 53.9% share, owing to the fact that nonalcoholic drinks boost the energy by improving physical and cognitive performance. The supply chain disruptions, lack of labor, partial or complete closure of manufacturing facilities, and difficulties in the procurement of raw materials were the major issue faced by the manufacturers during the pandemic. The outbreak of the COVID-19 disease in 2020 had a moderate Impact on the market. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. By end user, it is classified into kids, adults, and teenagers. Depending on type, the market is bifurcated into alcoholic and nonalcoholic. The market is segmented based on type, end user, and region. On the contrary, change in consumer preference toward consumption of beverages and healthy lifestyle is anticipated to create lucrative opportunities for market expansion during the forecast period.
However, caffeine overdose may cause hypertension, nausea, restlessness, and other associated health risks that limit the energy drinks industry growth. In addition, the growth of the global market is driven by rise in popularity among teenagers. Moreover, increase in health consciousness along with change in consumer lifestyle and rise in awareness toward health wellness products are expected to fuel the market growth in the near future.
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These factors are the substantial drivers of the global energy drinks market forecast. Furthermore, taurine, another major component, is essential for cardiovascular function and skeletal muscle development. One of the key reasons for energy drinks market growth is popularity of energy drinks that they provide instant energy along with mental and physical stimulation. Manufacturers of energy drinks claim that their products improve energy levels. In addition, they are distinguished from tea and coffee, which are brewed, contain lesser ingredients, and may be decaffeinated. They differ from sports drinks, which are used to replace electrolytes and water during or after physical activity. It enhances physical performance along with mental alertness. Energy drinks may or may not be carbonated. The global energy drinks market was valued at $45.80 billion in 2020, and is projected to reach $108.40 billion by 2031, growing at a CAGR of 8.2% from 2022 to 2031.Įnergy drink is a beverage that contains high concentration of stimulants, majorly caffeine, taurine, ginseng, guarana, and others.
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