Energy Supplement market to Show Exponential Growth by 2031 | Worldwide Value $152.5 Billion
Surge in need for energy supplements and emphasis on physical activity such as exercise, yoga, cycling, and hectic lifestyle of the working population
According to the report published by Allied Market Research, the global energy supplement marketgenerated $83.5 billion in 2021, and is projected to reach $152.5 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
Energy drinks and gels are specialized nutrition products that are designed to boost performance. An energy drink is a beverage that is marketed as being able to improve mental clarity and physical performance and contains high concentrations of a stimulant ingredient typically caffeine along with sugar and frequent supplements, such as vitamins or carnitine. It has gained popularity owing to changes in consumer preference toward the consumption of energy drinks and a healthy lifestyle. Fruit flavours are majorly preferred over other flavours such as chocolate as they provide a natural taste. And are the most natural source of nutrients. Fruits contain a variety of nutrients that are good for health, which is one of the main reasons why there is an increasing demand for them in energy drinks and bar products.
𝐓𝐨𝐩 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 in the energy supplement industry:
The players operating in the energy supplement industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Herbalife international of Brighter Foods Ltd, Kind LLC, McKee Foods Corporation, NuGo Nutrition, Premier Nutrition Inc, Probar LLC, Quest Nutrition, The Kellogg Company, AriZona Beverage Co., Living Essentials, LLC, National Beverage Corp., Rockstar, Inc., Suntory Holdings Limited, and The Coca-Cola Company.
According to the energy supplement market trends, by sales channel, the online retail segment is expected to grow during the forecast period. Online retail has gained popularity among customers primarily due to convenience in shopping, continuous service, and availability of a wide range of choices. Online platforms serve as a popular medium for the purchase of sports nutrition products. Large-scale internet penetration and the availability of a myriad of sites for shopping online are some of the major reasons for the growth of online shopping.
According to the energy supplement market opportunities, region wise, the North America Energy supplement market is expected to witness significant growth at a CAGR of 5.8% during the forecast period. The rise in demand for functional food, energy drinks, meal replacements, and on-the-go snacking is driving the energy supplement market growth in North America. The penetration of sports nutrition is higher among those aged 18-50 years. The demand for nutrition products is being driven by an increase in the number of gym-going and fitness-conscious people who want to stay healthy and fit. Thus, above-mentioned factors are likely to support the growth of the energy supplement market during the forecast period.
The Report
The report offers detailed segmentation of the global energy supplement market based on product type, end-user, sales channel, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
The energy supplement market analysis is segmented into product type, end user, sales channel, and region. On the basis of product type, the market is categorized into energy drinks, energy gels, energy bars, gummies, and others. Regarding the basis of end user, the market is categorized into kids, adults and teenagers. On the basis of sales channel, the market is fragmented into hypermarkets & supermarkets, convenience stores, specialty stores, and online sales channel. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, South Africa, Saudi Arabia, and rest of LAMEA).