Energy Drinks Market Synopsis:
According to Market Research Future (MRFR), the global energy drinks market is anticipated to expand at a significant CAGR while procuring a considerable market value during the review period by 2030.
South Korea Energy Drinks Market is characterized by rapid urbanization, hectic lifestyles, and a growing focus on health and wellness among consumers. As one of the leading markets in the Asia-Pacific region, South Korea presents lucrative opportunities for energy drink manufacturers. The market is driven by innovative product offerings, including beverages infused with traditional Korean ingredients known for their energy-boosting properties. Furthermore, aggressive marketing strategies, celebrity endorsements, and partnerships with sports events contribute to the growing popularity of energy drinks among South Korean consumers.
Energy Drinks Market Size was valued at USD 62,940.00 million in 2021. The Energy Drinks Market Industry is projected to grow USD 1,19,594.27 million by 2030, exhibiting a compound annual growth rate (CAGR) of 7.52% during the forecast period (2024 - 2030).
The energy drinks market is expected to be significantly driven by the rising health consciousness and hectic working schedule. The energy drinks sales is likely to shoot owing to the increasing incidence of obesity due to growing adoption of sedentary lifestyle. The growing product promotion through stores, retailers, and supermarkets can further enhance the demand for the drink, which can fuel the energy drinks industry. Furthermore, the presence of taurine in the drink is an essential component that aids in skeletal muscle development and enhances cardiovascular function, which may fuel the market.
On the flip side, the presence of counterfeit products can impede the market expansion during the forecast period. However, the robust expansion of the fitness and wellness sector can aid significantly in fuelling the energy drinks market growth.
Regional Analysis:
Based on the region, the global market for energy drinks is segmented into North America, Asia-Pacific, Europe, and the Rest of the World (RoW).
As per the analysis by MRFR, the global market is expected to be dominated by North America owing to the growing consumption of healthy drinks among the millennial population. The rising health awareness is anticipated to propel the market additionally in the coming period. The U.S. and Canada are likely to make crucial participation in augmenting the regional market owing to the growing promotion of drinks through supermarkets, retailers, and through other mediums.
Europe is anticipated to acquire a second position in the global market for energy drinks owing to the rising awareness about health. The expansion of the fitness and wellness industry is expected to a salient role in the coming period.
The APAC region is anticipated to expand at a fast pace during the review period owing to the changing lifestyle. The growing health consciousness among the expanding populace is likely to strengthen the regional market in the coming period. Also, increasing disposable income is likely to develop the regional market further.
The MEA region is expected to acquire the least market share during the forecast period owing to the presence of poor African countries. However, the presence of various untapped opportunities can augment the regional market.
Market Segmentations:
The segmental analysis of the global energy drinks market is done by distribution channel, type, and packaging.
The distribution channel-based segments of the global energy drinks market are convenience store, supermarkets, vending, sport nutrition chains, drug stores, mass merchandiser, and others. Among all, the supermarkets segment is anticipated to account for the maximum market share during the forecast period.
The type-based segments of the global energy drinks market are non-alcoholic and alcoholic. Between the two segments, the non-alcoholic segment is expected to acquire a major market share during the review period. However, the alcoholic segment is expected to witness a greater CAGR than the other segment during the projection period.
The packaging-based segments of the global energy drinks market are cartons, cans, bottles, and others. Among all segments, the can segment is anticipated to dominate the market during the
Key Players:
The global Energy Drinks Market Companies are Taisho Pharmaceutical Co Ltd. (Japan), Red Bull GmbH. (Australia), PepsiCo. Inc (U.S.), Rockstar, Inc. (U.S.), Monster Beverages Corporation (U.S.), Lucozade (U.K), Amway Corporation (U.S), Coca-Cola Company (U.S.), Arizona Beverages (U.S.), and Living Essentials LLC (U.S.).
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