US energy drink market to reach $28.25bn by 2027
The US energy drink market, where many products are packaged in aluminium beverage cans, is estimated to reach $28.25billion by 2027, according to a new report.
As consumers’ focus on nutrition increases, the beverage market is booming with functional beverages catering to sports recovery, and convenient protein/nutrition beverages.
Health-conscious consumers are prioritising their search for better-for-your food and drink options with energising, hydrating and reparative ingredients, according to Mintel’s March “Sports and Performance Drinks US” report.
In the United States, energy drinks’ consumption has gained immense popularity among the millennial population over the last decade, and it has now become a multibillion-dollar industry.
It is an integral part of social gatherings, parties, and celebrations in the United States. An energy drink contains stimulant compounds, usually caffeine, which is marketed as providing mental and physical stimulation.
It is not carbonated and contains sugar, other sweeteners, herbal extracts, taurine, and amino acids.
According to a recent report from ResearchAndMarkets the United States Energy Drink Market will be US$ 28.25 Billion by 2027.
The report said: “The expanding health consciousness among individuals, along with sedentary lifestyles and busy schedules of working professionals, is shifting consumer preferences towards functional beverages.
“This, in turn, is continuing to fuel the growth of the United States energy drink industry.” Active companies in the markets this week include Splash Beverage Group, Inc. (NYSE: SBEV), The Coca-Cola Company (NYSE: KO), National Beverage Corp. (NASDAQ: FIZZ), PepsiCo, Inc. (NASDAQ: PEP), Celsius Holdings, Inc., (NASDAQ: CELH).
ResearchAndMarkets added: “Additionally, the consumption of energy drinks has turned into a status symbol, especially for the youth residing in urban areas. This has happened in an increased dependence on energy drinks.
“Specific clean-label claims, like non-organic, natural and organic, among others, are influencing consumers, primarily teenagers and young adults (major target consumers), who indulge in sports activities.”
It continued: “In the United States, distribution channels such as Convenience Stores, Foodservice, Mass Merchandisers, Supermarket and others are provided energy drinks in multiple flavors and primary packaging, including plastic, glass, and metals. PET bottles and cans provide consumers with a wide range to choose their suitable drinks based on packaging and flavour.”