Market Size of Asia-Pacific Energy Drink Industry
|2019 - 2029
|Base Year For Estimation
|Forecast Data Period
|2024 - 2029
|Historical Data Period
|2019 - 2022
*Disclaimer: Major Players sorted in no particular order
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Asia-Pacific Energy Drink Market Analysis
The Asia-Pacific Energy Drink Market size is estimated at USD 16.23 billion in 2023, and is expected to reach USD 24.35 billion by 2028, growing at a CAGR of 8.46% during the forecast period (2023-2028).
The governments in the region have proactively responded to the situation to control the spread of COVID-19 through proper awareness, and efforts have been made to provide staples to all sections of the society in these disturbing times. This factor has rescued the energy drinks market from a huge crash. Thus, the market witnessed a surge in demand for products that provide immunity. Wunderman Thompson South Asia found that 94% of respondents from 32 cities in 15 states claimed that everyone in their home needed an immunity boost. The e-commerce platform Snapdeal claimed that a third of its users were buying safety and immunity-focused food and products.
Increased urbanization, rising disposable income, and growing health consciousness among consumers contribute to the rising demand for non-carbonated drinks across the Asia-Pacific market. Adolescents widely consume energy drinks due to their claims to improve performance, endurance, and alertness. At the same time, long and erratic working hours and the increasing occurrence of social gatherings are driving consumers toward the consumption of energy drinks.
Moreover, energy drinks with lower sugar content and natural ingredients are set to boom and continue to attract a greater number of health and wellness concentric consumers' attention. For example, brands containing natural ingredients extracted from products such as coffee beans are expected to propel in the region. The energy drinks market is also projected to grow due to an increase in the promotional and advertisement strategies by various manufacturers operating in the market. However, strict regulations set by governments in various countries in the region may hinder the growth of the market studied.