Energy Drinks Market Worth Is Poised To Reach US$ 81.61 Billion By 2032, Fact.MR

The global demand for energy drinks is poised for significant growth in 2022, surpassing $37.80 billion. This surge is driven by increasing health consciousness, evolving consumer lifestyles, and heightened awareness of wellness products. The market is expected to expand at a compound annual growth rate (CAGR) of approximately 8% by 2031.

According to Fact.MR, a market research and competitive intelligence provider, energy drink sales grew at a CAGR of 4% from 2017 to 2021. This growth was mainly fueled by rising health consciousness and a surge in sporting activities.

In North America, increasing health awareness, busy lifestyles, and greater consumer knowledge of the health benefits of energy drinks are boosting demand. In the United States, nearly 60% of men and 40% of women consume these beverages, which is expected to further drive the regional market. Fact.MR projects that the global energy drinks market will reach $81.61 billion by 2032.

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Growing Demand in the Healthcare Sector Boosting Energy Drink Sales
The energy drinks market is experiencing significant growth due to the rising preference for their health benefits. These drinks are rich in vitamin B, which plays a crucial role in preventing heart disease and cancer. The high niacin content in energy drinks can aid individuals with low blood lipids and arthritis symptoms.

Additionally, energy drinks contain pantothenic acid, which helps treat allergies, skin disorders, stress, and anxiety. The increased riboflavin content, which is beneficial for treating blood disorders and muscle cramps, has further propelled the industry's growth. Consequently, the demand for energy drinks within the healthcare sector continues to remain robust.

Sports Industry Fueling the Growth of Energy Drinks Market

The energy drink market is projected to see substantial growth, driven by robust demand within the sports industry. Sales are soaring among sportsmen and athletes who seek to enhance their performance and endurance.
According to the Australian Institute of Sports Nutrition, the carbohydrate content in these energy drinks aids performance by promoting recovery and boosting energy levels. Additionally, the ergogenic benefits of caffeine help athletes improve their performance. These factors collectively contribute to the significant expansion of the energy drink market within the sports industry.
Country-Specific Analysis

Rising demand for healthier options is driving the expansion of the energy drinks market across the region.

In the United States, the energy drinks sector is poised to experience a compound annual growth rate (CAGR) of 7.6% over the forecast period. Despite the initial setback from the COVID-19 pandemic, the market regained momentum as consumers sought out alternatives promoting wellness.

Energy drinks have garnered a strong following among American millennials, largely due to targeted marketing efforts aimed at capturing the attention of younger demographics. Advertising campaigns highlight the purported benefits of these beverages, including enhanced cognitive function, revitalized energy levels, and improved physical performance and endurance.

To cater to the preferences of health-conscious consumers, manufacturers are enhancing the functionality of their products. This trend involves incorporating features such as nutritional benefits, energy enhancement, muscle relaxation, electrolyte replenishment, antioxidant properties, improved blood circulation, heightened alertness, and even purported effects on virility and potency. By diversifying their offerings to meet various consumer needs, companies aim to make their products more versatile and appealing for daily consumption.

Market Competition
Key manufacturers priorities product innovation to gain a competitive advantage. Product launches may assist businesses in capitalizing on the enormous development potential in developing regions. The majority of firms raise product awareness through advertising and celebrity endorsement. Recent developments in the energy drinks landscape are as follows:

• In March 2021, PepsiCo Inc. announced the introduction of a new line of energy drinks titled Mtn Dew Rise Energy under its Mountain Dew product range, with assistance from NBA superstar LeBron James. Every 16-ounce will contain Vitamins A & C and zinc to support the immune system
• In January 2020, Coca Cola introduced its first energy drink called Coca-Cola Energy in the U.S, devoid of any soda under four flavors: Coca Cola Energy, Coca Cola Energy Zero Sugar, Coca Cola Energy Cherry and Coca Cola Energy Cherry Zero Sugar. However, this was cut short when the company decided to withdraw the product in the post-pandemic era

Key Segments Covered in Report
• By Product Type :
o Alcoholic
o Non-Alcoholic

• By Nature :
o Organic
o Non-Organic

• By Distribution Channel :
o Modern Trade
o Drug Stores
o Convenience Store
o E-Commerce
o Other Retail Format

• By Region :
o North America
o Latin America
o Europe
o APEJ
o Japan
o Middle East & Africa

Read More: https://www.factmr.com/report/253/energy-drinks-market

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This release was published on openPR.