In 2022, the market for plant-based energy drinks is projected to be worth US$ 9000 Million . Global market for plant-based energy drinks is expected to increase at a CAGR of 6.11% between 2022 and 2032, reaching around US$ 16,285.7 Million by that year, driven by the expanding veganism trend.
Demand for the plant-based energy drink will witness steady recovery because these energy drinks contain calcium, which aids in bone health and make them strong. Thus, its nutritional content will surge its market in the coming years.
What is Driving the Demand for a Plant-Based Energy Drink?
The demand for plant-based energy drinks is expected to be driven by a rise in people’s understanding of fitness and an increasing number of health-conscious consumers. Consumers are started following different diets, such as vegan, and physical training, such as gyms, to improve their health.
This change is mostly due to an increase in sedentary occupations and busy lifestyles. Also, the consumption of plant-based energy drinks improves the nutritional balance of the body.
Plant-based energy drinks can help the immune system and combat diseases like obesity, diabetes, heart failure and cardiovascular disease. Consumers are increasingly concerned about their wellbeing and nutritional standards, so they are opting for energy drinks that are high in nutrients, vitamins, and low in sugar and fat, which is expected to grow the demand for plant-based energy drinks.
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Key Factors which will Drive Sales of Plant-Based Energy Drink
Plant-based ingredients are the most natural source of nutrients and have many health benefits as opposed to synthetic or chemical-based ingredients. Thus, these factors will help in driving the sale of plant-based energy drink.
Also, plants have become a more common source of protein, manufacturers have been urged to create protein-rich, healthier plant-based energy drinks, which is expected to propel the plant-based energy drink market forward. The use of plant-based and herbal ingredients in energy drinks is fueling the market’s growth.
The consumption of energy drinks has increased dramatically among the young generation, but the energy drinks currently available on the market contain caffeine, which has its own set of side effects, leading to an ongoing quest for caffeine substitutes and effective compounds to use in energy drinks.
Plant-based ingredients are used to substitute caffeine in energy drinks as flavouring and seasoning agents and this will help in increasing its sale in the coming years.
Manufacturers have been encouraged to produce gluten-free, high-fibre protein drinks as a result of technological advancements and the demand for natural and clean label products, which could help in boosting its sale across the globe.
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The US and Canada Plant-Based Energy Drink Market Outlook
The high usage of energy drinks in the U.S and Canada, along with the country’s vast coffee culture and rise in awareness toward the benefits of consuming energy drinks has propelled the concept of energy shots into the mainstream, which is a major driver boosting plant-based energy drink market in the U.S and Canada.
Also, there is a rise in demand for a plant-based energy drink in the sports and fitness industry as it helps in building immunity and provides an energy to keep people energetic.
Europe Demand Outlook of the Plant-Based Energy Drink
Increasing vegan popularity, rising demand for low fat and sugar content drinks and advancement in gym culture are likely to act as a major driver in Europe which may boost demand for the plant-based energy drink. The growing demand for drinks helping to increase metabolism rate, reducing cholesterol rate and maintaining healthy digestion, may also help in driving its demand in Europe.
Key Manufacturers of the Plant-Based Energy Drink
Teariot
PepsiCo
Garden of life
Vital Proteins Collagen Energy Shots
Runa Energy Drink
Red Bull
Nature’s Plus
Toro Matcha Sparkling Ginger drink
Guayaki Yerba Mate
MatchaBar Hustle Matcha Energy
Monster Beverages
Hansen Natural Corporation
Recent Developments:
- On 22nd September 2022, Toro Matcha Sparkling Ginger drink announced its new line of beneficial matcha mixes. The powders are now available for purchase online, and the business plans to begin distributing them across the country through its retail network as early as December 2022. The powders are designed to give consistent and long-lasting energy, as well as to increase immunity and metabolism.
Key Segments Covered in the Plant-Based Energy Drink Industry Analysis
Plant-Based Energy Drink Market by Type:
- Organic
- Natural
Plant-Based Energy Drink Market by End-User:
- Kids
- Teenagers
- Adults
Plant-Based Energy Drink Market by Distribution Channel:
- Supermarkets/Hypermarkets
- E-commerce
- Grocery Stores
- Convenience Stores
Plant-Based Energy Drink Market by Packaging Type:
- Bottles
- Cans
Plant-Based Energy Drink Market by Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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