The global plant-based energy drink market is experiencing a significant surge, with a projected value of US$ 9,000 million in 2022, expected to skyrocket to US$ 16,285.7 million by 2032, boasting a robust compound annual growth rate (CAGR) of 6.11%. This remarkable expansion is propelled by the rising trend of veganism worldwide, coupled with a growing awareness of fitness and health-conscious consumer demographics.
As per FMI, hectic lifestyles of people are set to result in the high demand for plant-based energy drinks in Japan. People in Japan have been turning to plant-based energy drinks that can provide them with a healthy boost of energy without any negative side effects.
Plant-based energy drinks are usually made up of natural ingredients like fruit juices or tea, as well as consist of added vitamins and minerals. They do not contain sugar, caffeine, or artificial sweeteners.
The demand for plant-based energy drinks is being fueled by several factors:
- Rising Health Consciousness: Consumers are increasingly adopting healthier lifestyles, including dietary preferences such as veganism and engagement in physical activities like gym workouts, leading to a surge in demand for plant-based energy drinks.
- Functional Benefits: Plant-based energy drinks are perceived to offer various health benefits, including immune system boosting, aiding in weight management, and supporting cardiovascular health, driving consumers towards these products.
- Clean Label Trend: With a focus on clean label products, consumers are seeking energy drinks with natural ingredients, high in minerals and vitamins, and low in sugar and fat, thus increasing the demand for plant-based alternatives.
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Key factors driving the growth of the plant-based energy drink market include:
- Health Advantages: Natural plant-based ingredients offer multiple health benefits, attracting health-conscious consumers towards plant-based energy drinks.
- Innovative Formulations: Manufacturers are developing protein-rich, healthier plant-based energy drinks to cater to evolving consumer preferences, driving market growth.
- Clean Label Trend: The demand for gluten-free, high-fiber protein drinks made from natural and clean-label ingredients is on the rise, pushing manufacturers to innovate and expand their product offerings.
Key Takeaways from the Plant-Based Energy Drink Market
- The plant-based energy drink market in Japan is set to register a moderate CAGR during the forecast period.
- Japan is expected to account for a significant share in the global plant-based energy drink market over the next ten years.
- The plant-based energy drink market in Japan is projected to account for a significant market valuation by the end of 2022.
- Increasing demand for ready-to-drink beverages is expected to boost the demand for plant-based energy drinks in Japan.
“As plant-based energy drinks can help enhance the immune system and combat diseases like diabetes, demand for these products is set to remain high in Japan during the forecast period. Thus, key companies are expected to engage in collaborations with local players to co-develop new formulations.” – Says an FMI Analyst.
Competition Landscape in the Plant-Based Energy Drink Market
Key players are relying on online distribution channels for the marketing and branding of their products. Online distribution channels and innovative manufacturing are also providing a competitive edge to manufacturers to expand their market share across Japan.
Taisho Pharmaceutical Holdings, Red Bull, and Otsuka Pharmaceutical are some of the leading companies in the Japan plant-based energy drink market.
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Recent Developments
- In April 2021, Red Bull unveiled its brand-new summertime cactus fruit beverage. The brand’s newest cactus fruit beverage boasts a flavor reminiscent of fresh red berries that was inspired by the desert vegetation. This brand-new taste has been introduced to help the firm capture a high market share and draw more customers.
- In 2020, Taisho Pharmaceutical Holdings introduced enXtra, a botanical substance that has been clinically shown to increase attention and alertness for up to five hours with or without caffeine in Japan. Caffeine-free drinks are in high demand in Japan as customers choose healthful beverages. As a result, this product innovation will expand the Japanese market for energy drinks.
Key Takeaways for Investors:
Market Expansion Opportunities: The plant-based energy drink market presents lucrative opportunities for investors, driven by increasing consumer demand for healthier alternatives and innovative product formulations.
Regional Growth Potential: Regions like North America, Europe, and the Asia Pacific offer significant market potential, fueled by factors such as high consumption rates, growing vegan populations, and increasing health consciousness.
Innovation and Start-ups: Investing in start-ups and companies at the forefront of innovation in the plant-based energy drink sector can yield substantial returns, as consumers, particularly in younger demographics, seek healthier and more sustainable beverage options.
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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
- 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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