The European energy drinks market was USD 15 billion in 2014 and is projected to grow at a CAGR of 3.8% in the forecasted period of 2018-2023.
Europe Energy Drink Market Dynamics
Europe is the major market for energy drinks. The maximum consumption is between the age group of 18-35 years. The major consumers of energy drink are adolescents with nearly 68% share of the total consumption. Changing lifestyle, rising demand for convenience beverages, innovations with regard to the health and safety ingredients, and an inclination towards healthier options are driving the energy drink market in Europe.
Consumers are now looking for variations in daily drinks which include hydration with performance and preventive measures taken for specific health conditions. Energy drinks with caffeine presence are high in demand as it helps the consumers to regain energy and increase their stamina. However, policies made to measure the labeling, distribution and sales are constricting the growth of the energy drink market.
Europe Energy Drink Market Segmentation
Energy drinks with caffeine hold the major market share in Europe. The packaging of energy drinks play a vital role in the market and from the past few years cans have been the major market share holder. With regard to the availability to customer, sales and distribution channels such as convenience stores (with 50% share), supermarkets and mass merchandisers play a critical role.
Consumption of energy drink in Europe varied from 48% in Greece to 82% in the Czech Republic for adolescents. Among children, consumption varied from 6% in Hungary to 40% in the Czech Republic.
Key Players in the European Energy Drink Market
Europe is an emerging market poised to grow at a healthy rate due to growing consumer adoption rate as a result of increased marketing efforts by key players. The energy drink market is saturated, making it hard for small and new companies to compete with the leaders like Red Bull, or Monster and Rock Star.
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