The global energy supplement market value is on an impressive growth trajectory, presenting lucrative opportunities for investors. According to the latest Future Market Insights (FMI) report, the market is projected to be valued at USD 43.7 billion in 2024 and is expected to soar to USD 69.4 billion by 2034, expanding at a compound annual growth rate (CAGR) of 4.7% during the assessment period.
Energy supplement demand is steadily increasing as consumers become more health-conscious and seek to enhance their wellness. Engaging in activities such as exercising, running, or yoga to maintain a healthy lifestyle often requires extra energy, driving the consumption of energy-boosting supplements.
These supplements not only boost energy and stamina but also improve alertness and activeness, key factors propelling product demand globally. Initially popular among athletes and fitness enthusiasts, energy supplements are now gaining traction among common consumers looking to combat fatigue and increase concentration during work or study.
Growth Factors and Market Dynamics
The energy supplement market is being driven by several factors, including the growing acceptance of preventive healthcare and the rising geriatric population. Easy accessibility of these supplements through modern trade sales channels and the penetration of e-commerce are expected to further benefit the industry.
Leading players are utilizing novel technologies to create advanced formulas with high efficacy, tapping into the demand for tailored and multifunctional supplements. This innovation extends to the development of energy-boosting supplements in various flavors and formats, including sugar-free products with natural ingredients from fruits and vegetables.
Consumers are increasingly selecting products with multifunctional benefits, such as weight management and detoxification effects. This trend is prompting leading players to develop new supplements with additional functionalities, leveraging ingredients like green tea extract, adaptogens, and ginseng.
Market Segmentation and Regional Insights
The energy supplement market is segmented by product type, end-user, and distribution channel. The drinks segment, including energy drinks, energy shots, and ready-to-drink beverages, is expected to dominate the market with a 42.1% share in 2024. The adult/teenager end-user segment is projected to hold a 48.4% share due to their higher engagement in physical activities.
Geographically, North America remains a leading producer and consumer of energy-boosting supplements, with the United States accounting for a 24.3% market share in 2024. The demand in the United States is set to increase at a CAGR of 5.5% over the next ten years, driven by the popularity of functional beverages and energy drinks.
In Europe, Germany is projected to account for an 11.4% share in 2024, with sales expected to grow at a CAGR of 4.4%. Key players are leveraging sponsorship of sports events and social media campaigns to boost sales.
Asia Pacific is poised for significant growth, with countries like India and Australia registering CAGRs of 7.2% and 8.1%, respectively. Increasing health consciousness and fitness trends are propelling the demand for energy supplements in these regions.
Competitive Landscape and Key Players
The energy supplement market is highly competitive, with leading companies investing in research and development, new product launches, partnerships, acquisitions, and marketing campaigns. Some of the key players in the market include Amway Corporation, Herbalife Nutrition Ltd., Glanbia Nutritionals Inc., PepsiCo Holdings, Red Bull GmbH, Herbaland, Rockstar, Inc., and CELSIUS.
These companies are focusing on developing convenient and palatable supplements with different flavors and formulations to cater to diverse consumer preferences. Innovations in packaging, including sustainable options, are also gaining momentum
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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