February 16, 2021
According to a research report titled ‘Global energy drinks market analysis, 2020’, available with Market Study Report LLC, global energy drinks market is set to grow swiftly at 7.5% CAGR during 2020-2025.
As per report findings, advancements in infrastructure, intermittent organization of athletic events across the world, and rise in number of sports enthusiasts and health conscious individuals are key growth driving factors of global energy drinks market. Parallelly, innovative marketing tactics applied by industry tycoons to promote their products like social media vlogs and sponsorships in competitive events, coupled with spiraling demand for organic and natural energy drinks are enhancing the market valuation.
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Target customers of the market are teenagers, adults, and geriatrics. The adult segment accounted for a substantial share of global energy drinks industry revenue in the recent past, on account of increasing emphasis on health and wellness, in combination with extended working hours, change in standards of living, and an affinity for clubbing and partying.
Based on product, the industry is classified into alcoholic, and non-alcoholic. The report cites that non-alcoholic energy drinks are favored to alcoholic ones owing to the demand from fitness enthusiasts and sports persons.
Furthermore, by product type, global energy drinks market is arrayed into natural, organic and non-organic products. Distribution channels employed in the marketplace are on-trade as well as off-trade.
Considering the regional outlook, North America and the APAC regions captured more than half of the global energy drinks industry size in the past year, due to fast-paced infrastructural developments in the US, Canada, India, and China.
The report cites that the major league players of the industry are RedBull GmbH, Rockstar, Inc., Monster Beverage Corporation, Taisho Pharmaceutical Co. Ltd., The H. J. Heinz Company, PepsiCo, Inc., Power Horse Energy Drinks GmbH, The Coca Cola Company, GlaxoSmithKline plc, and Goldwin Healthcare Pvt. Ltd.
Minimal differentiation in these consumer goods is cause for tough competition in the market. To counter this issue and acquire a major chunk of global energy drinks industry share, rivals introduced very specific consumer goods in 2019. For instance, a UK based beverage start up, Matcha Works launched an energy drink which is naturally caffeinated. It specifically targeted millennials (18-30 years of age). Similarly, in the recent past, Razer Inc., a lifestyle brand for gamers introduced an energy drink called ‘Respawn’ specifically for gaming enthusiasts.