Worldwide energy drink market is expected to accumulate around US$84.70 billion by the year 2026, growing at a CAGR of 7.3 percent throughout the forecast timeline, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
The global energy drink market is gaining traction owing to the growing popularity of energy drinks among athletes, service members, students and adults. Energy drinks & beverages are said to contain caffeine, taurine, glucuronolactone, herbal extracts, vitamins, amino acids and proprietary blends, which are widely promoted as ingredients that uplift physical stamina as well as mental alertness. The product range is quite diverse as some of these beverages are formulated with sugar and some, without sugar, while some may not be carbonated.
While on one hand, the demand for energy drinks has consistently been rising worldwide, on the other hand, the present evidence for the efficiency, safety and performance is very frequently contradictory. Also, the prime concern regarding these beverages is that maximum number of the product categories contain excessive caffeine concentrations. Reportedly, the media, athletic departments, scientific community and governments have voiced their safety concerns over the consumption of these drinks.
The report cites that many legislators have responded to this sort of concerns and have formulated various norms and educational approaches in a bid to restrict the consumption of these products. This is one of the most challenging factors confronted by the leading industry participants in the current market scenario, in spite of the burgeoning demand worldwide.
As per the report, these natural/organic beverages are intended to satisfy all functional characteristics as much as conventional products, to keep up with the expectations of modern consumers and their complex demands. The energy drinks market, being in the midst of a turbulent scenario comprising new market entrants, start-ups to legacy brand names, is still considered to be in the evolution era that is likely to redefine these products in the upcoming times.
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These products command the attention of various traction types from a range of demographics – right from Hispanics as well as the age group between 18-35. It has also been observed that millennial consumers demand these beverages in continuum. In the coming years, the demand for these products is expected to be at the peak, as the population of these two consumer groups has been depicting a consistent upsurge.
The latest research report includes a thorough analysis of the global energy drinks market in view of significant market dynamics, drivers, along with current & future market trends. The report also scrutinizes multiple market restraints as well as prospects that influence the commercialization scope of this business sphere over the projected timeframe. Moreover, a comprehensive industry analysis contained in the report deals with Porter’s five forces, which are the bargaining power of suppliers, bargaining power of buyers, degree of competition, threat of new entrant and threat of substitute.
Based on the present regional scenario of the global energy drinks market, the United States is the leading consumer of energy drinks. During the years 2016 and 2017, the demand for regular energy drinks in the country had slackened, in spite of having a strong historical performance record. However, the sugar free and less sugar products have witnessed huge success recently, which is spearheading the market growth in the U.S. Furthermore, consumers in the US have been demanding for newer and wider range of functionality coupled with natural flavors within the low-calorie drink categories. The leading brands in the U.S. include GCMMF, Red Bull, Monster Energy, GSK, PepsiCo, Heinz, Coca-Cola, Power Horse, NourishCo., Taisho Pharmaceutical Co. Ltd. and Goldwin Healthcare.