The global energy ingredients market is anticipated to reach a value of USD 23.4 billion by 2023. According to the market analysis report by FMI, it is poised to grow at a compound annual growth rate (CAGR) of 6.7% from 2023 to 2033, potentially achieving a market valuation of USD 44.7 billion by the conclusion of this forecast period.
Packaged food products are increasingly fortified with energy-boosting ingredients like antioxidants, caffeine, ginseng, and taurine, aimed at enhancing consumer health. These functional foods are gaining popularity among both athletes and the general public, driving up demand for energy ingredients among manufacturers.
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The popularity of energy drinks among young people is surging due to their ability to provide quick energy while enhancing mental and physical alertness. According to a July 2021 study by Molecular Diversity Preservation International (MDPI), between 52% and 68% of teenagers consume energy beverages.
In addition to packaged beverage manufacturers, cafes are also joining the trend by introducing drinks that feature caffeine as a primary ingredient to promote consumer well-being. For instance, Starbucks partnered with PepsiCo’s Coffee JV in North America to launch the Starbucks Baya Energy drink in February 2022. This ready-to-drink (RTD) beverage includes caffeine extracted from coffee berries and vitamin C as an antioxidant.
Key Takeaways from the Market
- The United States is the leading producer and consumer of functional foods fortified with energy ingredients. The net contribution of the region in revenue generated by the market globally is around 25%.
- The United Kingdom is the second leading region for the sales of energy ingredients. However, Germany is the leading producer and supplier of energy ingredients in the Europe geographic region.
- The trend of energy drinks in the Asia Pacific has been surging in recent years, and many countries are observing an uptick in their sales. China dominates the overall market in this region, followed by India, Japan, and South Korea.
- The caffeine product segment, with a more than 85% revenue share, is projected to drive the market’s expansion during the forecast period. At the same time, the creatine product segment is predicted to lead the market by a higher growth rate of 13% through 2033. According to more estimates, the taurine product segment is also expected to grow more through 2033.
Key Players Profiled in the Energy Ingredients Market Report
- Spectrum Chemical Mfg. Corp.
- Orkla
- Korea Ginseng Corporation
- Changsha Huir Biological-Tech Co., Ltd.
- Aarti Industries Ltd.
- BASF SE
- Ilhwa Co. Ltd.
- Applied Food Sciences, Inc. (Afs)
- Nuts.Com Sinochem Pharmaceutical Co. Ltd.
- RFI Ingredients
- Naturalin Bio-Resources Co., Ltd.
- KOEI KOGYO CO., LTD
Recent Developments by the Energy Ingredients Industries
In April 2021, PepsiCo released a new rockstar Energy drink containing hemp seed extracts. This product also contains basic energy ingredients such as guarana, taurine, and caffeine.
In January 2021, Babasucco Company unveiled their newest Energy Estratto drink in Italy, asserting that it has all the properties of an avocado drink.
Nexba Company launched its first energy drink in the United Kingdom and some other European countries in May 2022. The company claims it to be high in vitamins and prebiotics and made of energy ingredients free of caffeine and sugar.
The Korea Ginseng Company developed a brand-new range of Koreselect ingredients for energy and health drinks in December 2022. These new products are available only online, including milk thistle, ashwagandha, beetroot, American ginseng, elderberry, and women’s probiotics. These are considered special function supplements and are of many anticipated additions to the already popular Koreselect brand family. Moreover, it is based on Korean red ginseng, created exclusively for health-conscious American consumers, and contains only natural herbal components.
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Key Segments Covered by Energy Ingredients Industry Survey Report
Energy Ingredients Industry Segment by Product Type:
- Creatine
- Ginseng
- Caffeine
- Taurine
- Others
Energy Ingredients Industry Segment by Application:
- Supplements
- Food & Beverage
- Others
Energy Ingredients Industry Segment by Region:
- North America Market
- Latin America Market
- Europe Market
- East Asia Market
- South Asia and Pacific Market
- The Middle East and Africa (MEA) Market
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