Impact of COVID-19 on Energy Drinks Market : Implications on Business
Sports and energy drinks have transitioned from being a niche product to one of the fastest growing product categories in the global soft drinks market. This change has primarily been brought about by a growingly evident consumer focus on health and fitness. Moreover, as the consumption of aerated drinks heads for a visible decline in many important markets of the world, the time is ripe for energy drinks to make a mark in terms of both volume sales and revenue.
With energy drinks no longer being the preserve of athletes and sportspersons, the coming years will bring new consumers into the folds of the global energy drinks market. This factor will play a key role in enabling the global energy drinks market rise at a double-digit CAGR between 2016 and 2024, analysts opine.
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The report maintains a sharp focus on the changing trends within the energy drinks market, with a special emphasis on spotting emergent product categories. A region-wise outlook helps companies spot opportunities that will prove profitable to companies, both local and international. A detailed analysis of the competitive shares of the leading market players is yet another highlight of the report. The key criteria for segmentation are: Product type, end users, distribution channels, and geography.
Global Energy Drinks Market: Trends and Opportunities
With consumers across all demographic categories increasingly being drawn toward products that offer health benefits, clever marketing and branding will remain crucial to the success of energy drinks brands worldwide. Moreover, with consumers consciously cutting down on the consumption of sugar-sweetened drinks and the number of diabetics rising worldwide, a massive opportunity is shaping up in the sugar-free energy drinks market, the report finds. At the same time, the obesity pandemic will give a fillip to low-calorie energy drinks.
Packaging will be a defining trend in the energy drinks market, becoming nearly as important as improved product formulation. As more energy drinks bustle for space on retail shelves, packaging will be a definite purchase influencer for consumers. While the market carries a positive long-term growth outlook, companies need to reassess their product formulas to overcome negative publicity related to potentially harmful ingredients in their products.
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Global Energy Drinks Market: Region-wise Insight
The global energy drinks market is broadly segmented on the basis of geography into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. The dynamic economies of countries in Asia Pacific and Latin America, coupled with a young consumer base, will drive sales of energy drinks in these regions.
However, companies are recommended to not entirely shift their focus from mature markets such as those in North America and Western Europe, where consumers are ditching sodas for healthier alternatives. Overall, the demand for greater functionality in drinks will be a defining demand driver in the energy drinks market.
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Global Energy Drinks Market: Key Players
The leading companies in the global energy drinks market are: PepsiCo, Hansen Natural Corp., Red Bull GmbH, and The Coca-Cola Company.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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