Product ID: SQMIG30G2027
Report ID:
SQMIG30G2027 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
170 |
Figures:
79
Energy Drinks Market size was valued at USD 86.64 billion in 2019 and is poised to grow from USD 93.84 billion in 2023 to USD 177.58 billion by 2031, growing at a CAGR of 8.3% in the forecast period (2024-2031).
The rise in customer demand for novel and thrilling flavour experiences as well as the adoption of trends like health and naturalness are some of the reasons why the energy drink industry has become one with the quickest rate of expansion. Additionally, the North American millennial and Hispanic populations' increased consumption is a big driver of the global market. Additionally, there is a growing market demand for these drinks formulated with more natural ingredients and less sugar. Interest among consumers is growing in tastes, sugar-free products, diets, zero-calorie options, and natural and organic options.
Players are using a variety of tactics to maintain consumer interest. For instance, Red Bull increased the number of sugar-free SKUs it offered. Subsequent business research showed that the market for low-calorie beverages had experienced significant development. The surge in demand for non-carbonated energy drinks, rising disposable income, urbanization, and health consciousness are some of the other reasons driving the global market. In addition, as athletes and health-conscious customers drink these drinks to boost their performance and endurance, the demand for these beverages rises. The higher carbohydrate and caffeine content of energy drinks is what causes athletes, health-conscious customers, and sportsmen to consume them at higher rates.
The risks associated with increased energy drink consumption, such as consumer concerns about weight gain and general health, as well as the high sugar content, caffeine derived from synthetic sources, artificial ingredients, and additives associated with traditional energy drinks, present a challenge for some suppliers and restrain the growth of the global market. A higher intake of these drinks, according to the research report, may raise blood pressure and increase the chance of heart electrical abnormalities. The demand for natural and organic drinks has significantly increased over the past several years as a result of the restrictions placed mostly on non-organic energy drinks. Although there will be a global increase in the demand for these drinks, which will raise market share and propel the market growth during the anticipated period.
US Energy Drinks Market is poised to grow at a sustainable CAGR for the next forecast year.
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REQUEST FREE CUSTOMIZATIONEnergy Drinks Market size was valued at USD 86.64 billion in 2019 and is poised to grow from USD 93.84 billion in 2023 to USD 177.58 billion by 2031, growing at a CAGR of 8.3% in the forecast period (2024-2031).
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Product ID: SQMIG30G2027