GVR Report cover Energy Drinks Market Size, Share & Trends Report

Energy Drinks Market Size, Share & Trends Analysis Report By Product (Drinks, Shots, Mixers), By Type (Conventional, Organic), By Packaging (Cans, Bottles), By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-1-68038-951-7
  • Number of Pages: 80
  • Format: Electronic (PDF)

Report Overview

The global energy drinks market size was valued at USD 86.35 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.3% from 2022 to 2030. The growing demand for energy drinks as a potential energy booster in order to improve physical and cognitive performance has been shaping the market growth. Drinks that are free from sugar, glucose, and high fructose corn syrups have been gaining traction among consumers. Market players are aggressively marketing these drinks as functional beverages that uplift energy and alertness as well as provide a physical boost.

U.S. energy drinks market size, by product, 2020 - 2030 (USD Billion)

The COVID-19 pandemic has had a positive impact on market growth. Though the demand for the product was already rising, the segment exploded after the COVID-19 pandemic hit the world. Increased concerns for health, convenience, and the enhanced quality and diversity of these beverages are the factors behind the upsurge in demand. After the closure of restaurants and bars in March 2020, consumers brought the product from online platforms. This trend benefited the market growth. The sale of the product rose significantly through e-commerce channels due to stay-at-home orders around the world.

In the U.S., energy drinks are the most popular supplements for teens and young adults. The majority of these drinks are consumed by men between 18 and 34. This growth is attributed to increasing awareness and an increase in sports activities among the younger population. Players operating in the U.S. market have recently shifted their consumer focus from athletes to young people owing to the growing demand from young consumers for mental alertness.  

Brands are launching sugar-free and calorie-free energy drinks. These products address the need for healthier options, which can benefit athletes or consumers who are obese. Sugar-free varieties can also be valuable for consumers who are lactose intolerant. Energy beverages including soft drinks, carbonated beverages, fruit and vegetable juices, beverage concentrates, ready-to-drink tea, and ready-to-drink coffee are the most commonly consumed.

Changing preferences, lifestyles, tastes, and continuous innovations in the product have bolstered the product demand. These drinks are considered to be one of the fastest-growing beverage segments globally and they maintained growth throughout the pandemic despite major shifts in the consumption of other products. Further, the demand for convenience and RTD format is driving the demand. Thus, major brands are strategically responding to consumer demands and the products are experiencing a wider reach.

For instance, in September 2019, The Coca-Cola Company unveiled the first energy drink under the Coke brand alongside several other beverage innovations at the National Association of Convenience Stores (NACS) expo in Atlanta. The company launched- ‘Coca-Cola Energy Cherry’, available exclusively in the U.S. and its zero-calorie counterparts. Similarly, in March 2021, PepsiCo. Inc. introduced a new line of energy drink - ‘Mtn Dew Rise Energy’, particularly targeted at morning consumers. The product contains coffee, vitamins A & C, antioxidants, and fruit juice. Further, it contains citicoline to boost mental clarity and zinc for immune support. The company made this strategic launch in order to move beyond its core soda line into functional beverages and energy drinks.

Product Insights

The drinks segment held the largest revenue share of over 50.0% in 2021 and is expected to maintain its lead over the forecast period. Consumers are preferring drinks over other counterparts as it fulfills the demand for instant hydration and caters to offer significant nutrients for the well-functioning of the body. Further, drinks have a larger consumer base owing to the diversification of these beverages. Consumers have the liberty to drink these beverages at work, after exercising, and during leisure activities, as they are functional in nature, which drives the product demand.

The mixers segment is anticipated to witness considerable growth over the forecast period. The growing availability of the product as a mixer has been driving the segment. Furthermore, consumers are opting for mixers to make premium cocktails and alcoholic drinks. In addition, several brands have been taking chances on new flavors in mixers to attract new consumers. It has been observed that the frequency and quantity of alcohol mixed with caffeinated mixers in any form including energy drinks or cola reduced the negative impacts of alcohol, and the consequences were significantly less harmful than when consuming alcohol alone.

Packaging Insights

The cans segment held the largest revenue share of over 50.0% in 2021 and is expected to maintain its lead over the forecast period. Consumers have become more sophisticated with their choices and taste and are hence increasingly opting for these beverages over canned wine and other alcoholic drinks. Young consumers prefer metal cans as they are more portable and do not break like glass. With the coronavirus pandemic resulting in the shutting down of bars, pubs, and restaurants, the demand for the product in cans has significantly increased and is expected to continue over the forecast period. Several consumers are looking for functional energy beverages, many of which are available in cans. As a result, the manufacturers have been trying to tap this market with more product launches in this format.

The bottles segment is anticipated to expand at the second-highest CAGR over the forecast period. Initially, the ready-to-drink concept was launched in a bottle package design and became popular worldwide. Aluminum shortage in countries such as the U.S. has led to the introduction of the product in glass bottles. Furthermore, the rise in awareness regarding water and land pollution caused by beverages packaged in plastic bottles has led to an increased demand for the product in glass bottles. The demand for the product in glass bottles is increasing owing to the convenience they offer and rising awareness among consumers regarding the adverse impact of plastic bottles on the environment. This has also led to the introduction of the product in glass bottles, which is expected to gain popularity and help increase product demand.

Type Insights

The conventional segment held the largest revenue share of over 60.0% in 2021 and is expected to maintain its lead over the forecast period. Lack of consumer awareness regarding organic products is expected to favor the growth of the conventional segment over the forecast period. The organic industry is still a fledgling industry, with a considerably lacking consumer awareness regarding the benefits of organically functional drinks. In addition, conventional drinks are typically cheaper than their organic counterparts owing to different ingredients. Retailers tend to prefer conventional over organic drinks for a greater margin per square inch of shelf space they offer.

The organic segment is anticipated to expand at a higher CAGR over the forecast period as organic drinks are generally perceived to contain more nutrients and antioxidants than conventional ones. An increasing number of health-conscious consumers are gravitating toward organic products over conventional ones due to concerns over highly processed, artificial ingredients as well as the effects of pesticides and antibiotics. This scenario has been playing a vital role in driving the consumption of organic energy drinks. The COVID-19 pandemic has further led to a surge in interest and raised consumer awareness regarding the consumption of organic drinks as they are viewed as healthier and safer than conventional ones, which is likely to have a positive influence on the segment growth in the upcoming years.

Distribution Channel Insights

The off-trade segment accounted for the largest revenue share of over 70.0% in 2021 and remains the primary source of consumption of the product. The increase in product sales is driven by the rise in the consumption of energy beverages. Consumers buy these products after physically examining the product quality, ingredients, and brands, which, in turn, drives product sales through off-trade channels. Most of the key players offer their full range of products through off-trade channels including supermarkets and hypermarkets as these stores have a high customer reach. Some of the popular brick-and-mortar stores selling the product in the U.S. are Walmart; Walgreens; CVS Pharmacy; Target Brands, Inc.; Kroger; and Safeway. Walmart stocks the product from various brands.

Global energy drinks market share, by distribution channel, 2021 (%)

The on-trade channel is expected to register a considerable growth rate from 2022 to 2030. An increasing number of bars, pubs, resorts, cafés, restaurants, and clubs are offering a wide range of these beverages, which is driving the segment. Such factors are expected to boost product sales and this trend is likely to continue in the upcoming years. However, the COVID-19 pandemic has affected the hospitality sector and the consumers’ drinking habits. The consumption of the product and functional beverages shifted from restaurants and bars to personal spaces, which has negatively influenced the consumption through the on-trade segment.

Regional Insights

North America held the largest revenue share of over 30.0% in 2021. The growing consumption of the product in the region is also attributed to the increase in disposable income, the emergence of several domestic brands, and the rise in marketing and promotional activities for product growth. North Americans consume more energy drinks than any other geographic market in the world owing to the changing demographics and consumers’ tastes and drinking habits. The globalization of markets and the migration phenomenon contributed to the modification of drinking patterns of consumers who were gradually introduced into their drinking habits. This, in turn, has opened new opportunities for market players to incorporate a variety of drinks into their portfolios.

The Asia Pacific is likely to emerge as the fastest-growing regional market from 2022 to 2030. The market is expected to witness considerable growth in the economies of China, India, and Japan as a result of consumers' willingness to experiment with new flavors and the high demand from immigrants residing in the country, displaying an interest in varied beverages. Product launches in the region in order to target and appeal to numerous consumers have been driving the product demand in the region.

Key Companies & Market Share Insights

The market is characterized by the presence of a few well-established players and several small and medium players. The majority of the market share is captured by key players. These manufacturers are adopting various strategies, including new product launches, the expansion of product portfolios, and mergers & acquisitions. For instance:

  • In January 2022, Anheuser-Busch Companies LLC is planning to launch energy drinks in India as the energy drinks category is primarily driven by millennials and affluent consumers across key urban cities in the country.

  • In February 2022, PepsiCo. Inc. launched a hemp energy drink in the U.S. containing ingredients such as hemp oil, vitamin B, spearmint, lemon balm, and caffeine.

  • In January 2022, Starbucks launched energy drinks in partnership with PepsiCo. Inc. The product is available in grocery stores, national retailers, and convenience stores across the U.S. and will roll out to Starbucks locations beginning in March 2022.

Some prominent players in the global energy drinks market include:

  • Red Bull

  • Taisho Pharmaceutical Co. Ltd.

  • PepsiCo. Inc.

  • Monster Energy

  • Lucozade

  • The Coco-Cola Company

  • Amway

  • AriZona Beverages USA

  • Living Essentials LLC

  • Xyience Energy

Energy Drinks Market Report Scope

Report Attribute


Market size value in 2022

USD 91.94 billion

Revenue forecast in 2030

USD 177.58 billion

Growth Rate

CAGR of 8.3% from 2022 to 2030

Base year for estimation


Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, type, packaging, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; U.K.; China; Japan; India; Thailand; Brazil

Key companies profiled

Red Bull; Taisho Pharmaceutical Co. Ltd.; PepsiCo. Inc.; Monster Energy; Lucozade; The Coco-Cola Company; Amway; AriZona Beverages USA; Living Essentials LLC; Xyience Energy

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global energy drinks market report on the basis of product, type, packaging, distribution channel, and region:

  • Product Outlook (Revenue, USD Million, 2017 - 2030)

    • Drinks

    • Shots

    • Mixers

  • Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Conventional

    • Organic

  • Packaging Outlook (Revenue, USD Million, 2017 - 2030)

    • Cans

    • Bottles

    • Others

  • Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

    • On-trade

    • Off-trade

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • Japan

      • India

      • Thailand

    • Central & South America

      • Brazil

    • Middle East & Africa

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