Energy Drinks Market size was valued at USD 93.84 billion in 2023 to reach a value of USD 177.58 billion by 2031, at a CAGR of 8.3% during the forecast period (2024-2031). The growth of the energy drinks market is driven by the widespread popularity of energy drinks, which provide mental and physical stimulation along with rapid energy. In addition, taurine is one of the major constituents that may impact the growth of skeletal muscle and cardiovascular performance. Thus, these factors do have a significant impact on the prognosis of the global energy drinks market. The market can be expected to grow in the future due to growth in health consciousness, changes in the consumer lifestyle, and increased awareness of health and wellness goods. In the global market, there is an acceleration of growth rates with increased popularity of this product among teens.
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Seasonal Releases and Collaborations Captivating Consumers Taste Buds
Unique and exotic flavors are being introduced by various energy drink brands to differentiate them from each other in such a chaotic market. Savory combinations, tropical fruit blends, and more attention-grabbing flavors will no doubt attract those seeking novelty for the thrill of it. Culturally relevant themes, partnerships with famous brands, collaborations with influencers, and seasonal releases all fuel the buzz and excitement among different generations. Customers are eagerly anticipating new flavors with products that not only attract their attention but also create long-term brand loyalty. One of the best instances is Sting Blue Current by PepsiCo India, launched in September 2023. This limited-edition flavor in 200 ml single-serve packs clearly details how brands can engage consumers and generate frenzy in the energy drink category.
Innovation and Competition in Energy Drinks Market
In the energy drinks market, strong competition springs from innovative flavors, unique marketing styles, and business collaborations between many brands striving to capture consumers’ attention. While Red Bull and Monster top the market, new companies are increasingly challenging them through innovative flavors and specialty items. Competition is now harder as firms seek sustainability and health-centric products because companies are more aggressive in attracting experimental customers in this new market of choice.
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Strategic Moves by Key Players
April 2024: GURU Organic Energy Corp., Canada’s organic energy drink brand, rolled out nationwide marketing efforts for Peach Mango Punch. The new, high-in-natural-component and low-calorie beverage is a specific product targeting the improvement of brain function as well as attention. Such a product has been certified to be organic, without aspartame, sucralose, and several amounts of caffeine and plant-based components. It contains L-theanine, monk fruit, and stevia, which are essential constituents. Adding those gives it sweetness and some health benefits.
February 2024: Red Bull GmbH introduced Summer Edition Curuba Elderflower in 250ml cans. This taste of elderflower and curuba also had some sugar-free versions. The company responded to the greater demand by launching an 8x250ml mixed multipack with a sugar-free content version and further increased its client count by 50% with the ‘Editions’ range.
January 2024: To continue its march into new territories, Celsius Holdings, Inc. entered Canada, the UK, and Ireland via PepsiCo, Inc., and Suntory Beverage & Food Great Britain and Ireland. In 2022, PepsiCo advanced their U.S. agreement to an exclusive distributorship in Canada. For sole distribution and sale in the UK, the Isle of Man, the Channel Islands and the Republic of Ireland, Suntory Beverage & Food Limited was selected.
This report covers following segments:
A. Product
Drinks
Shots and Mixers
B. Type
Conventional
Organic
C. Packaging
Cans
Bottles
Others
D. Distribution Channel
On-Trade
Off-Trade
This report covers following players:
Monster Energy Company (US)
The Kraft Heinz Company (US)
Stokely-Van Camp, Inc. (US)
PepsiCo (US)
The Coca-Cola Company. (US)
Red Bull (Austria)
Nestlé S.A. (Switzerland)
Carlsberg Breweries A/S (Denmark)
NEALKO ORAVAN, spol s.r.o (Slovakia)
Kabisa B.V. (Netherlands)
SUNTORY HOLDINGS LIMITED. (Japan)
Asia Brewery Incorporated (Philippines)
Otsuka Pharmaceutical Co., Ltd. (Japan)
Dali Foods Group Co., Ltd. (China)
Eastroc Beverage Group Co Ltd (China)
Taisho Pharmaceutical Co. Ltd. (Japan)
Lucozade (England)
Amway (US)
AriZona Beverages USA (US)
Living Essentials LLC (US)
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Meeting Demand for Energy in Active Lifestyles
The food & beverages companies have in recent times attempted to capitalize on the global trend of getting fit and healthy. In this market, leading demand is driven by an instant source of energy through the form of aerobic or physical workout. These athletes come in lines for a sugar kick in the drinks, which has picked up highly in the market segment. This industry has so many brands, and thus North America holds the majority of the market. Demand was from the rising outdoor activities of running marathons and hiking.
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