DUBLIN, March 22, 2024 /PRNewswire/ -- The "United States Energy Drink Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
United States Energy Drinks Market is foreseen to be valued at around US$ 33.0 Billion by 2030 from US$ 19.24 Billion in 2023, growing at a CAGR of 8.01% during 2024-2030
Presently, energy drinks have become popular, especially among young people. Consumption of these drinks shows positive effects such as preventing increased blood pressure under stressful conditions, gaining a pain tolerance, and providing improved performance, concentration, and endurance. Energy drinks are the second-most consumed dietary supplement by American teenagers and young adults, following multivitamins.
The rising demand for energy drinks as a potential energy booster to develop physical and cognitive performance has shaped market growth. Drinks free from sugar, glucose, and high-fructose corn syrups have been gaining traction among consumers. Growing concerns for health, convenience, and the improved quality and diversity of these beverages are the elements behind the increase in demand. With the introduction of e-commerce, consumers bought products from online platforms. This trend benefited market growth.
The growing expenditure on advertisement and promotion by leading businesses is widely strengthening the market. Besides promotional costs, endorsements and sponsorships are essential factors influencing market growth. Businesses have adapted their advertising and marketing strategies to reach consumers through various distribution channels, including supermarkets and hypermarkets, specialty stores, online retail stores, television, radio, social media, and print media, all to capture consumer attention in the age of social media.
Furthermore, these companies unite with sports clubs and tournaments to consolidate their presence on social media platforms like Twitter, Facebook, and Instagram. They garner customer attention, promote their portfolio of services, and add to brand visibility. For instance, Red Bull owns US football teams and uses its trademark in their names for promotional purposes.
Non-alcoholic energy drinks to lead market growth in the United States
By type, the United States energy drinks market is segmented into Alcoholic and Non-Alcoholic. Non-alcoholic energy drinks are estimated to be the fastest-growing section in the market. This is due to factors like the increase in the adoption of energy drinks made with herbal extracts and taurine amino acids in the country and the growing advertising campaigns by the key players to attract consumers. The rise in investments by critical players to develop non-alcoholic energy drinks with innovative flavors is also driving the growth of the United States energy drinks market.
Organic drinks contain more nutrients & antioxidants than conventional ones, leading to a higher CAGR over the forecast period
By product, the United States energy drinks market is divided into Non-Organic, Organic, and Natural. Organic energy drinks are expected to affect the market during the forecast period. A growing number of health-conscious consumers are moving toward organic products over traditional ones due to concerns over highly processed, artificial ingredients and the effects of pesticides and antibiotics. This scenario has been playing a critical role in propelling the intake of organic energy drinks.
Cans are a popular packaging choice in the energy drink market in the United States
The United States energy drinks market is fragmented into Plastic, Glass, Metal, and Others by packaging. The cans segment is foreseen to maintain its lead in the United States energy drink market. Consumers have become more sophisticated with their choices and tastes and are increasingly choosing these beverages over canned wine and other alcoholic drinks. Young consumers favor metal cans as they are more movable and do not break like glass. Several customers are looking for functional energy beverages, many available in cans. As a result, manufacturers have been trying to tap this industry with more product launches in this format.
The adult segment expects to dominate the United States energy drink market
By end-user, the United States energy drinks market consists of Kids, Adults, and Teenagers. The adult segment is anticipated to hold a substantial share in the energy drinks market over the forecast period. This is due to the rising working population and changing lifestyle. Besides, working for an extended period, wanting to maintain mental alertness, and increasing physical performance further propel the market growth of energy drinks. On the other hand, the teenager segment is expected to expand at a faster CAGR owing to the promotion of energy drinks by celebrities and social influencers, with the manufacturing of organic and zero-sugar energy drinks as a healthy beverage.
The energy drink market in the United States is increasingly becoming popular among women
By gender, the United States energy drinks market comprises Women and Men. The women's section is said to grow in the energy drinks market in the United States. Most of the energy drink sales have traditionally come from young male consumers. But that's beginning to change. In recent years, brands have seen triple-digit sales gains, with much of the growth credited to women consistently entering the energy category. The new wave of fitness energy brands has similarly tailored their innovation and marketing to forgo old category standards like high-sugar-base formulations and regular advertising.
The supermarket is the primary source of consumption and accounts for the highest revenue share of energy drinks
Distribution channels split the United States energy drinks market into Convenience Stores, Foodservice, Mass Merchandisers, supermarkets, and Others. The supermarket segment holds the largest United States energy drink market share. This is owing to factors such as the increase in the demand for various energy and sports drinks without artificial sweeteners and the rise in investment by the key players. The easy availability of flavor choices and trustworthiness in supermarkets is driving the growth of the United States energy drinks market.
Company Analysis:
1. Red Bull
2. Monster Beverage Corporation
3. PepsiCo
4. National Beverage Corp
5. Suntory Holdings Limited
6. The Coca-Cola Company
7. Campbell Soup Co.
8. Amway Corporation
Type - United States Energy Drink Market breakup in 2 viewpoints:
1. Alcoholic
2. Non-Alcoholic
Product - United States Energy Drink Market breakup in 3 viewpoints:
1. Non-Organic
2. Organic
3. Natural
Packaging - United States Energy Drink Market breakup in 4 viewpoints:
1. Plastic
2. Glass
3. Metal
4. Others
End-User - United States Energy Drink Market breakup in 3 viewpoints:
1. Kids
2. Adults
3. Teenagers
Gender - United States Energy Drink Market breakup in 2 viewpoints:
1. Men
2. Women
Distribution Channel - United States Energy Drink Market breakup in 5 viewpoints:
1. Convenience Stores
2. Foodservice
3. Mass Merchandisers
4. Supermarkets
5. Others
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