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March 27, 2023 | Hard To Find Beverages, Energy Drinks
The global energy drinks market in 2020 was nearly $43 billion, projected to hit $108 billion by 2031. While you may assume teenage boys are the ones driving the market on energy drinks, it’s actually adults who comprise 46 percent of the energy drink market, as of 2020. To be more specific, most of these drinks are consumed by men between the ages of 18 and 34.
Energy drinks differ from sports drinks in that they don’t replace electrolytes and water during physical activity. Instead, they contain high amounts of caffeine, sugar and other stimulants, mainly to achieve mental alertness.
The recent growth in the energy drinks market can be attributed to an increase in sports activities among younger people, but it’s not just young athletes who are consuming these drinks. Anyone from college students who need to pull all-nighters to working men who need to focus on a complex client project can benefit from such beverages.
To meet the increasing concerns about the health of such drinks, more and more brands are introducing sugar-free and calorie-free energy drinks. These healthier options are being aimed at athletes, obese consumers, and people who just want to have a healthier option. Product demand has been bolstered by changing lifestyles, preferences, tastes, and continual innovations in the industry.
Also driving product demand is that consumers can feel free to drink these beverages at work, while driving, while exercising or doing leisurely activities. They’re getting the same initial kick in energy as they would with alcoholic drinks but without the stigma and with the freedom to consume them anytime, anywhere.
The energy drinks segment had the largest revenue share of 50 percent in 2021, and it shows no signs of slowing down.
The diversification of energy drinks is yet another factor driving product demand. With so many flavors and health options to choose from, there’s truly something for everyone. On top of that, energy drinks act as excellent mixers for alcoholic drinks and premium cocktails, contributing to their meteoric rise to the top of the market.
As a result, many brands are offering more flavors to appeal to alcohol drinkers.
Metal cans still dominate the packaging segment of this market. Young consumers prefer them due to their portability and inability to break like glass bottles. However, the demand for glass bottles is growing due to aluminum shortages and an increased awareness of land and water pollution from plastic bottles.
Check out Beverage Universe’s website for a variety of energy drinks ranging from Red Bull to Hackamore Premium Energy. Feel free to place a bulk order online or call us with any questions.
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