The global plant-based energy drink market is set for significant growth, with an estimated value of USD 16,285.7 million by 2032, up from USD 9,000 million in 2022. This impressive growth, projected at a CAGR of 6.11% over the forecast period, is being driven by the increasing trend towards veganism, rising health consciousness, and the adoption of various diets and physical fitness regimes.
As per FMI, hectic lifestyles of people are set to result in the high demand for plant-based energy drinks in Japan. People in Japan have been turning to plant-based energy drinks that can provide them with a healthy boost of energy without any negative side effects.
The plant-based energy drink market is experiencing robust expansion as consumers become more health-conscious and seek alternatives to traditional energy drinks. The rise in sedentary lifestyles and hectic schedules has led to an increased awareness of fitness and health, driving the demand for healthier beverage options. Plant-based energy drinks, rich in minerals, vitamins, and low in sugar and fat, are seen as a healthier alternative that can help maintain nutritional balance and boost the immune system.
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Regional Insights
North America is expected to hold the highest market share, accounting for 34.7% in 2022. The high consumption of energy drinks in the United States and Canada, along with a strong coffee culture and increased awareness of the benefits of energy drinks, is driving the market. Additionally, the demand for plant-based energy drinks in the sports and fitness sector is rising.
The Asia Pacific region is projected to accumulate a significant market share of 30% in 2022. The growing vegan population and preference for plant-based beverages are driving product demand in this region. Countries such as China, India, and Thailand are seeing increased adoption of healthy lifestyles, contributing to the market’s expansion.
Europe is expected to account for 40% of the market share in 2022. The rising popularity of veganism, preference for low-fat and low-sugar beverages, and advancements in gym culture are driving the demand for plant-based energy drinks. The increased need for beverages that boost metabolism and support good digestion is also contributing to market growth.
Key Takeaways from the Plant-Based Energy Drink Market
- The plant-based energy drink market in Japan is set to register a moderate CAGR during the forecast period.
- Japan is expected to account for a significant share in the global plant-based energy drink market over the next ten years.
- The plant-based energy drink market in Japan is projected to account for a significant market valuation by the end of 2022.
- Increasing demand for ready-to-drink beverages is expected to boost the demand for plant-based energy drinks in Japan.
“As plant-based energy drinks can help enhance the immune system and combat diseases like diabetes, demand for these products is set to remain high in Japan during the forecast period. Thus, key companies are expected to engage in collaborations with local players to co-develop new formulations.” – Says an FMI Analyst.
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Start-Up Ecosystem and Recent Developments
The start-up ecosystem is vibrant, with companies driving innovation in the plant-based energy drink sector.
For instance:
- Basis: A U.S.-based firm, Basis creates low-sugar Clean Hydration Mix, which is high in electrolytes and provides more hydration than traditional sports drinks.
- Shine+ Drink: An Australian company, Shine+ Drink produces natural nootropic beverages with no added sugars or artificial ingredients, helping users stay mentally engaged.
- Toro Matcha: Announced new matcha mix powders designed to provide consistent energy and boost immunity and metabolism.
Recent Developments
- In April 2021, Red Bull unveiled its brand-new summertime cactus fruit beverage. The brand’s newest cactus fruit beverage boasts a flavor reminiscent of fresh red berries that was inspired by the desert vegetation. This brand-new taste has been introduced to help the firm capture a high market share and draw more customers.
- In 2020, Taisho Pharmaceutical Holdings introduced enXtra, a botanical substance that has been clinically shown to increase attention and alertness for up to five hours with or without caffeine in Japan. Caffeine-free drinks are in high demand in Japan as customers choose healthful beverages. As a result, this product innovation will expand the Japanese market for energy drinks.
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Key Segments Covered in the Plant-Based Energy Drink Industry Analysis
Plant-Based Energy Drink Market by Type:
- Organic
- Natural
Plant-Based Energy Drink Market by End-User:
- Kids
- Teenagers
- Adults
Plant-Based Energy Drink Market by Distribution Channel:
- Supermarkets/Hypermarkets
- E-commerce
- Grocery Stores
- Convenience Stores
Plant-Based Energy Drink Market by Packaging Type:
- Bottles
- Cans
Plant-Based Energy Drink Market by Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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