Energy Drinks Sector Shows Vitality in Fresh Data
Energy drinks have experienced the biggest boost in 7 years according to new information from Mintel Global New Products Database, which found that more energy drinks were launched globally in 2015 than in any year since 2008.
The data shows that the number of energy drink products launched grew 29% between 2010 and 2015.
Mintel’s yearly analysis also found that the US no longer rules when it comes to innovation in energy drinks, as Germany has come out on top.
Germany recorded the highest share of new energy drink product launches in 2015, overtaking the US for the first time.
Some 9% of global energy drink launches occurred in Germany in 2015, as opposed to 8% in the US; in comparison, in 2014 Germany experienced only 6% of global new energy drink product launches compared to 10% that took place in the US.
However, it is not just launches and innovation that are experiencing fresh highs in the energy drinks sector, as volume sales are also on the increase.
In 2015, the global market for energy drinks rose by 10% to reach 8.8 billion litres of sales.
The top three countries that performed the highest in selling energy drinks were the US with 3.3 billion litres, China selling 1.4 billion litres, and the UK selling 561 million litres.
China’s top position in the number of volume sales is due to a massive 25% increase in sales that occurred between 2014 and 2015.
Another country which experienced a rise in volume sales was Thailand which experienced a 19% rise.
Alex Beckett, Global Food and Drink Analyst at Mintel, said,“Energy drinks remain controversial, yet undeniably successful, the wild child of the soft drinks family. The primary driver of global growth remains the drinks’ capacity to provide consumers with a quick and effective energy boost – something which resonates with consumers the world over. Energy drinks are benefitting from being championed by giant brands, which devote huge investment to advertising and high profile marketing initiatives to project an exciting and edgy image. However, in less developed regions, local energy drink brands are emerging and gaining distribution as a more affordable alternative to multinationals, adding pressure for major players to project a brand identity that consumers from New York to Beijing want to be associated with, and pay more for.”