About Energy Drinks
Energy drinks are a category of beverages that have ingredients like caffeine and others that increase the energy level in the body. Energy drinks come under the functional beverages category. The market for energy drinks has increased significantly because of rapid urbanization, increased spread of retail, and rise in demand for convenience foods. The market has scope to expand in emerging economies due to an increase in disposable income of consumers and consumers' willingness to try new flavors and tastes.
Technavio’s analysts forecast the global energy drinks market to grow at a CAGR of 8.86% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global energy drinks market for 2017-2021. To calculate the market size, the report considers value and volume of energy drinks market in different regions.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Energy Drinks Market 2017-2021
Technavio recognizes the following companies as the key players in the global energy drinks market: Monster Beverage Corporation, PepsiCo, Red Bull, and Rockstar Energy Drink.
Other Prominent Vendors in the market are: BOMB ENERGY DRINK, Living Essentials Marketing, POWER HORSE Energy Drinks, Starbucks, Vemma Nutrition Company, XS Energy, and XYIENCE Energy Drink.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increase in demand for low-calorie energy drinks. In recent times, there has been an increase in health consciousness among consumers. Due to an increase in the occurrences of various diseases, consumers are becoming more conscious about what they consume. Obesity is one of the main reasons for the increase in demand for low-calorie energy drinks. Several energy drink manufacturers like Red Bull have already come up with sugar-free variants of energy drinks.”
According to the report, one driver in the market is hectic lifestyle and need for instant energy. The change in lifestyles and work practices, globalization, and several other aspects have made consumers' lives more hectic. They have more work than time to complete their tasks. Thus, to survive in such a competitive environment, they need to put in more effort. As these energy drinks are rich in energy-simulating ingredients like ginseng, caffeine, and others, they keep the mind and body alert. Caffeine present in energy drinks helps to increase the overall productivity by increasing activeness and alertness.
Further, the report states that one challenge in the market is stiff competition from low-cost substitutes. Energy drinks face stiff competition from low-cost substitutes like fruit juices, soft drinks, and other flavored beverages. Although they do not have stimulants like ginseng, guarana, and others, they contain other energy-providing substances like glucose, vitamins, and minerals. These substitutes were already present in the market much before the introduction of energy drinks and had high demand. Although the scope of energy drinks has increased in western countries, they are still not prevalent in the emerging economies.
Monster Beverage Corporation, PepsiCo, Red Bull, Rockstar Energy Drink, BOMB ENERGY DRINK, Living Essentials Marketing, POWER HORSE Energy Drinks, Starbucks, Vemma Nutrition Company, XS Energy, and XYIENCE Energy Drink.