India Energy Drink market is projected to grow at a CAGR of 9.22% during the forecast period, 2020-2025
NEW YORK, June 9, 2020 /PRNewswire/ -- India Energy Drink market is projected to grow at a CAGR of 9.22% during the forecast period, 2020-2025.
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- Energy drinks are caffeinated beverage products, which exceed 145 mg of caffeine per liter. The products are marketed as non-alcoholic beverages, which are consumed to boost energy. The increased demand for energy boosters from the young population in parties and clubs is accelerating the demand for energy drinks in India.
- Consumers have become more health conscious which in turn has increased the demand for functional beverages instead of non-carbonated beverages, which provide high calories.
Key Market Trends
Increased Consumption of Packaged Soft Drinks
Although traditional and home-made drinks remain popular, the market for non-carbonated packaged drinks is gaining huge popularity from the past two years, with a year-on-year growth of 35% from 2015 to the next three years. Hence, various factors, like increasing disposable incomes and rising health consciousness, are leading to the growth in the demand for non-carbonated drinks. This growth enables industry players to concentrate more on health and energy drinks, thereby driving the energy drink market. In the recent years, consumers have increasingly opted for naturally healthy, packaged foods and beverages, associated with fortified/functional, organic, or better-for-you products, as these are perceived to offer the essential natural nourishment.
Convenience Stores Remains the Largest Market
Convenience stores have low capital requirements when compared to the supermarket/hypermarkets. Owing to the low capital required, the number of convenience stores in India is higher. Since Energy drinks are priced on a higher end compared to other soft drinks and carbonated drinks, and though consumers are aware of the benefits associated with the consumption, the sales by volume are not huge.
Competitive Landscape
Indian energy drink market is witnessing a fast growth which has led to a fiery competition in the market. Yet, the market is dominated by a few international brands. Quality is not to be compromised; which is the reason why companies are pricing the products low but promising quality to gain a significant market share. Red Bull is the giant dominating this market and continues its run as the leader. With energy drinks on the corner, athletes and fitness-freak consumers look forward to different flavors in the category. Companies with products in this segment are benefitting and developing strategies to continue holding their position by introducing new variants in the category.
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