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Energy Ingredients Global Market Size, Share, Emerging Trends, Growth Drivers, Analysis, Report and Forecast 2024-2033 | The Business Research Company
Energy Ingredients Global Market
According to The Business Research Company's, The energy ingredients market size has grown strongly in recent years. It will grow from $24.31 billion in 2023 to $26.3 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to concerns about fossil fuel dependency, government initiatives and incentives, rising prices of conventional energy sources, renewable energy integration in power grids, global efforts to reduce carbon emissions.
The energy ingredients market size is expected to see strong growth in the next few years. It will grow to $36.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to hydrogen as a clean energy carrier, global transition to renewable energy, focus on energy efficiency, circular economy principles in energy production, rural electrification programs. Major trends in the forecast period include natural and clean label ingredients, plant-based energy ingredients, innovations in functional beverages, sustainable and ethical sourcing, customized and personalized nutrition, clean energy alternatives.
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Market Drivers and Trends:
The increasing demand from end users such as the food and beverage industry is expected to boost the growth of the energy ingredients market going forward. The food and beverage industry refers to all businesses that handle the processing, packaging, and distribution of uncooked food. Energy ingredients are used in various food products and beverages as they provide various nutritional supplements that are beneficial for an individual's health. For instance, in 2023, according to the Food & Drink Federation, a UK-based organization that represents and advises UK food and drink manufacturers, the exports of food and drink increased by 31% in 2022 compared to 2021. Additionally, the food and beverages industry has a turnover of $3.52 billion (£10.3 billion) in 2022, accounting for 33% of total Scottish manufacturing. Therefore, the increasing demand from end users such as the food and beverage industry is driving the growth of the energy ingredients market.
Product innovations have emerged as the key trend gaining popularity in the energy ingredient market. Major companies operating in the energy ingredients market are developing innovative products to strengthen their position in the market. For instance, in February 2022, PepsiCo, a US-based food and beverage company, launched Rockstar Unplugged energy drink with an innovative blend of hemp seed oil and B vitamins. The unique features of Rockstar Unplugged with these ingredients provide fruit-forward energy boosts that assist in maintaining a free-flowing, easy-going, and soul-fueling attitude for any mood or circumstance. This drink is designed to offer a good dose of caffeine with a new sugar-free and calorie-free beverage for the customers.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
BASF SE; Spectrum Chemical Mfg. Corp.; RFI Ingredients Inc.; Korea Ginseng Corporation; Orkla ASA; ILHWA Enzyme Fermented Ginseng; Applied Food Sciences Inc.; Naturalin Bio-Resources Co. Ltd.; Changsha Huir Biological-Tech Co. Ltd.; Sinochem Pharmaceutical Co. Ltd.; Graham Chemical Corporation; Mutalo Group; Red Bull GmbH; Musashi Energy Solutions Co. Ltd.; GURU Organic Energy Drinks; Aarti Industries Ltd.; Koei Kogyo Co. Ltd.; Nutra Food Ingredients LLC; NutraScience Labs; NutraPak; Cargill Incorporated; Kerry Group plc; DuPont de Nemours Inc.; Archer Daniels Midland Company; Ingredion Incorporated; Tate & Lyle plc; Givaudan; DSM Nutritional Products AG; Ajinomoto Co. Inc.; FMC Corporation
Energy Ingredients Market 2024 Key Insights:
• The energy ingredients market will grow to $36.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%.
• Rising Food And Beverage Industry To Drive Market Growth
• Product Innovations Transforming The Energy Ingredients Market
• North America was the largest region in the energy ingredients market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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