Changing Lifestyle is Supplementing the Demand for Energy Drinks in the Global Market
“According to a new market research report published by Inkwood Research, the Global Energy Drinks Market is anticipated to propel with 7.08% of CAGR over the forecast period of 2019-2027.”
“Browse 18 market Data Tables and 31 Figures spread over 105 Pages, along with an in-depth TOC on Global Energy Drinks Market Forecast 2019-2027.”
Beverages that are comprehended with a high concentration of stimulants, which majorly include taurine, caffeine, guarana, ginseng, and others, are categorized as energy drinks. These drinks help in enhancing physical performance, along with mental alertness, and are available in two variants carbonated and non-carbonated. Some times energy drinks are misrepresented as sports drinks, which is consumed to retain the electrolytes and water during or after physical activity. Manufacturers of energy drinks assure that their products boost the energy levels. Hence, the benefit of providing instant energy, resulting in physical and mental stimulation, is one of the prime factors escalating the popularity of these energy drinks.
Changing Lifestyle is Escalating the Demand for Energy-Boosting Products
The market of energy drinks and related products has been witnessing an alarming demand over the past few years, which is majorly attributable to benefits offered by these drinks, including attention, increased performance, weight loss, stamina, and others. Moreover, consumers, especially males, associated with adventurous activities frequently consume energy drinks to maintain their masculinity. As these drinks consist of similar or excess caffeine than coffee that boosts attentiveness and alertness during hectic work hours, there is an increased preference among the consumers with long working hours. Moreover, the operating players of the market have launched products with various flavors & tastes, owing to a surge in demand for instant energy products.
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Adults are the Largest Consumer Type Segment for Energy Drinks
Adults contributed the highest share in the consumer type segment in the year 2018, as it has become an integral part of the young and middle-aged adults. This high growth is because these drinks enhance the performance by maintaining the health of nerve cells and red blood cells. Also, energy drinks are majorly being consumed by athletes as they help in improving their stamina and performance levels during their practice sessions and training. Also, energy drinks are used by working adults to improve their alertness and performance at the workspace.
North America Contributed the Largest Share in the Global Energy Drinks Market
The North American region leads the global market of energy drinks. This growth is backed by the high consumption of energy drinks by the millennials in the U.S., over the past few years. Moreover, these drinks are well-known as an ideal substitute for caffeine beverages, including carbonated soft drinks and coffee, which further fuel their adoption among millennials. Adults and athletes are the largest consumers of energy drinks, boosting the market growth in the region.
Some of the prime players contributing to the global energy drinks market include Red Bull, Pepsico, Inc., Monster Beverage Corp, National Beverage Corp., and Dr. Pepper Snapple Group, Inc. The overall market is consolidated and competitive. Moreover, there is no significant diversity in terms of competitors, and hence, brand equity is the key aspect to determine the popularity among the consumers. Therefore, to improvise the visibility, several prime brands are aggressively marketing and indulging in sponsorships of various sports events.
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