Technavio’s latest report covers the present scenario and growth prospects for the global sports and energy drink market during the period 2016-2020.
In this report, Technavio’s food and beverages research experts announce their key market highlights for the global sports and energy drink market. Their findings include:
Global sports and energy drink market is expected to grow at a CAGR of 11.19% in terms of revenue and 9.97% in terms of volume
Energy drinks are more popular with the younger population, particularly those in the age group of 18-34 years because of various factors such as packaging, branding, and the association of these drinks with adventurous sports. Energy and sports drink manufacturers such as Monster Beverage Corporation and Red Bull sponsor several adventure sports events and sports teams to attract the attention of young consumers.
One of Technavio’s lead analysts Arushi Thakur, who specializes in non-alcoholic beverages research says, “Leading vendors are aggressively launching many new products to expand their market share. For instance, Xenergy+ Hydration Tropical Punch is a caffeine-free energy product that was launched in June 2014. Similarly, ReliOn launched a pomegranate-flavored glucose shot energy drink which is also caffeine-free and claims to lower blood sugar levels. With the popularity of these trends, the global sports and energy drink market is predicted to reach close to USD 117.79 billion by 2019.”
North America dominated the global sports and energy drink market in 2014 with a market share of over 34%
Consumers in North America exhibit a growing preference for different taste profiles, therefore prompting manufacturers to launch sports and energy drinks in different flavors. For instance, Monster Beverage Corporation has launched its Muscle Monster Energy shakes in five flavors, vanilla, chocolate, coffee, strawberry, and peanut butter cup.
Sports and energy drink manufacturers in North America have found a new consumer base in the region thanks to an increasing number of video gamers. It is estimated that about 195 million gamers in North America are actively involved in online gaming. They tend to spend long hours at night playing games and therefore depend on energy drinks to stay alert during long gaming sessions. These factors are anticipated to play a key role in improving the demand for energy and sports drinks over the next four years.
Use of botanicals in energy drinks becoming a key emerging trend
Growing health concerns associated with the consumption of caffeine is compelling consumers to look for natural products. This changing consumer preference is driving vendors to come up with products that serve as an alternative to caffeinated products. In 2014, New York-based Runa beverages launched an energy drink that contains an extract from the guayusa leaf, which is an Amazonian leaf. The product also contains antioxidants such as chloragenic acids, isoflavones, and L-theanine.
Similarly, Auro, a Swedish beverage company, came up with an energy drink that contains a combination of matcha green tea, ginseng, and guarana. Another product that can serve as an alternative to caffeinated products is GustoOrganic, which contains Siberian ginseng, Chinese angelica, chrysanthemum flower, and guarana. This trend is predicted to significantly augment the demand for sports and energy drinks over the next four years.
Browse related reports:
- • Energy Drinks Market in the US 2015-2019
- • Performance Nutrition Market in the UK- Market Analysis 2015-2019
- • Sports Drinks Market in Australia 2015-2019
- • Energy Drinks Market in Latin America- Market Analysis Report 2015-2019
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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Source : businesswire.com