The global energy ingredients market is anticipated to reach a value of US$ 44.7 billion by 2033, with a projected CAGR of 6.7% from 2023 to 2033. FMI’s analysis reveals that the market size is set to hit US$ 23.4 billion in 2023. Energy ingredients, including antioxidants, caffeine, ginseng, and taurine, are extensively used in packaged food items, contributing to increased consumer health awareness. The introduction of refreshment drinks containing energy ingredients is expected to drive market growth. Moreover, the demand for energy ingredients is rising due to their positive impact on cognitive performance and reaction times.
Overview of the Market
The energy ingredients market has witnessed promising growth, reaching US$ 21.9 billion in 2022 and is poised for substantial expansion. The COVID-19 pandemic boosted consumer interest in healthier food alternatives, driving the consumption of goods containing caffeine-based energy ingredients. The market is expected to evolve further, driven by factors such as increased awareness of concentrated food items and lifestyle shifts.
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Key Takeaways from the Market
- The United States is the leading producer and consumer of functional foods fortified with energy ingredients. The net contribution of the region in revenue generated by the market globally is around 25%.
- The United Kingdom is the second leading region for the sales of energy ingredients. However, Germany is the leading producer and supplier of energy ingredients in the Europe geographic region.
- The trend of energy drinks in the Asia Pacific has been surging in recent years, and many countries are observing an uptick in their sales. China dominates the overall market in this region, followed by India, Japan, and South Korea.
Demand of the Market
The demand for energy ingredients is propelled by the rising popularity of functional foods and beverages containing protein components. The market is experiencing significant potential, particularly in unconventional food items like margarine, cold cuts, spreads, and protein powder for energy. However, consumer skepticism about unnatural additives and the higher price of consumables made from energy ingredients present challenges and limitations.
Growing Factor
The market’s growth is augmented by the increasing adoption of active energy drinks by sports enthusiasts and the younger demographic. The industry is witnessing a surge in awareness and popularity of concentrated food items and functional drinks, driving market trends. Attractive packaging and innovation in new combinations for better taste and functionality contribute to the market’s positive trajectory.
Competitive Landscape for the Energy Ingredients Market Players
Orkla, Korea Ginseng Corporation, BASF SE, and KOEI KOGYO are renowned global energy ingredients market names. Several players are conducting significant acquisition and promotional campaigns to accumulate a higher client base and improve their brand image.
The global energy drink ingredients market is highly fragmented owing to the participation of several established international businesses with extensive market networks. Moreover, numerous emerging new entrants with product innovations and strong market strategies are expected to further diversify the market.
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Recent Developments by the Energy Ingredients Industries
In April 2021, PepsiCo released a new rockstar Energy drink containing hemp seed extracts. This product also contains basic energy ingredients such as guarana, taurine, and caffeine.
In January 2021, Babasucco Company unveiled their newest Energy Estratto drink in Italy, asserting that it has all the properties of an avocado drink.
Nexba Company launched its first energy drink in the United Kingdom and some other European countries in May 2022. The company claims it to be high in vitamins and prebiotics and made of energy ingredients free of caffeine and sugar.
The Korea Ginseng Company developed a brand-new range of Koreselect ingredients for energy and health drinks in December 2022. These new products are available only online, including milk thistle, ashwagandha, beetroot, American ginseng, elderberry, and women’s probiotics. These are considered special function supplements and are of many anticipated additions to the already popular Koreselect brand family. Moreover, it is based on Korean red ginseng, created exclusively for health-conscious American consumers, and contains only natural herbal components.
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Key Segments Covered by Energy Ingredients Industry Survey Report
Energy Ingredients Industry Segment by Product Type:
- Creatine
- Ginseng
- Caffeine
- Taurine
- Others
Energy Ingredients Industry Segment by Application:
- Supplements
- Food & Beverage
- Others
Energy Ingredients Industry Segment by Region:
- North America Market
- Latin America Market
- Europe Market
- East Asia Market
- South Asia and Pacific Market
- The Middle East and Africa (MEA) Market
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