United State plant-based energy drink market was growing rapidly, fueled by increasing consumer interest in plant-based products and a shift toward healthier lifestyles.
The global plant-based energy drink market is expected to grow at a moderate CAGR of 6.11% throughout the forecast period (2022-2032). The plant-based energy drink market is estimated to hit a valuation of US$ 16,285.7 Mn by 2032. The market is anticipated to generate a revenue of US$ 9000 Mn in 2022.
As per FMI, the U.S. is expected to remain at the forefront in the plant-based energy drink market during the assessment period. This growth is attributed to the rapid inclination of modern consumers towards vegan and clean-label energy drinks.
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Besides, growing vegan population in the U.S. is anticipated to push the need among consumers to have in-depth knowledge about the source of ingredients found in both beverages and supplements. For instance, the Vegan Society registered an impressive 16,439 products in 2021 with the Vegan Trademark. At present, more than 63,000 products from over 2,500 companies are registered across the globe.
Consumers across the U.S. are also looking for organic alternatives to caffeine and artificial preservatives to maintain their overall health. A few other consumers are simply looking to avoid animal by-products. Plant-based energy drinks offer a cruelty free alternative to those seeking the same.
Key companies in the U.S. are expected to gain new growth opportunities in the next ten years with the launch of unique drinks infused with fruit juices, fruit powders, or fruit extracts. Fruit flavored plant-based energy drinks are likely to gain prominence in the country as the majority of vegan diet plans do not include items containing fruits.
A few other companies are introducing new sugar free and calorie-free energy drinks to expand their client base in the country. As millennials and generation Z populations are striving to avoid excessive sugar consumption by discarding carbonated beverages, sales of sugar-free plant-based energy drinks are set to surge by 2032.
In February 2022, for instance, Rockstar Energy Drink, a PepsiCo trademark, introduced a new energy drink packed with vitamin B and hemp oil. This sugar-free and calorie-free beverage comes in three flavors: raspberry-cucumber, blueberry, and passionfruit.
Similar product launches by key companies in the U.S. are projected to bode well for the market. Some of the local companies in the country that are mainly engaged in the production of meat and dairy substitutes are also expected to venture into the field of plant-based energy drinks to generate more revenue.
Key Takeaways from the Plant-Based Energy Drink Market
- The plant-based energy drink market in the U.S is expected to register a moderate CAGR during the forecast period.
- The U.S. is set to showcase rapid growth with North America accounting for the highest share of 34.7% in the plant-based energy drink market by the end of 2022.
- The U.S plant-based energy drink market is estimated to reach a significant valuation in the next ten years.
- Increasing adoption of gym culture in the U.S. is expected to drive sales of plant-based energy drinks in the U.S.
“Increasing number of convenience stores across the U.S., selling numerous brands of vegan and organic plant-based energy drinks, is anticipated to drive growth. Thus, key companies are focusing on creating unique advertisement campaigns to attract a large consumer base through social media platforms,” says a lead analyst at FMI.
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Competition Landscape in the Plant-Based Energy Drink Market
In an effort to capture a greater portion of the plant-based energy drink market, U.S.-based companies are continually launching numerous marketing strategies, which mainly rely on innovative products and product differentiation. Several firms are implementing other strategies such as new product launches, branding through social media, and mergers & acquisitions, to strengthen their positions in the global market.
OCA, Red Bull, and Rockstar Energy Drink are some of the leading companies operating in the U.S plant-based energy drink market.
Recent Developments
- In November 2021, OCA, a tapioca-based plant-based energy drink manufacturer, launched its product in the U.S. in collaboration with one of the largest supermarket stores, Krogers. Along with its current line of energy drinks, OCA introduced a brand-new flavor called prickly pear-lime.
- In September 2021, Red Bull released a pomegranate-flavored energy drink with hints of red berries and tart cherries as part of its Winter Edition line. The beverages are available in two sizes: 8.4-ounce and 12-ounce cans, all of which are matte crimson.
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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 Plant-Based Energy Drink Market
- Latin America Plant-Based Energy Drink Market
- Europe Plant-Based Energy Drink Market
- Asia Pacific Plant-Based Energy Drink Market
- Middle East and Africa Plant-Based Energy Drink Market
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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