Gain a data-led understanding of the current energy drinks market and opportunities within the category for brands in the US. This report examines how the market is performing, the latest consumer trends, and ways for brands to capitalize on what consumers want.
Read on to discover some of our expert insights from the report.
Energy Drinks Industry Overview
Energy drink sales (including energy shots) are enjoying organic growth – accounting for inflation – driven by the strong presence of category leaders and the emergence of new brands. Favourable market conditions like low unemployment and demographic shifts create opportunities for energy drink brands to tap into specific audiences, which are explored in depth in the full report. The combination of category loyalists and new users is sure to continue driving the market’s growth.
- Energy drink sales: Energy drink sales increased an estimated 6% from 2021 to 2022 after accounting for inflation.
Find a comprehensive breakdown of the energy drinks market size (including forecast) and market share inside the report.
Market Trends and Consumer Behavior
Mintel finds that although gamer energy drinks represent a small segment of the total energy drinks market, traditional energy drinks may incrementally lose market share to gamer energy drinks. This is likely to be the case due to the strength of the gaming market among Gen Z and Gen Alpha consumers. It’s also worth noting that the largest consumption gap between men and women exists for gamer energy drinks. Men lead here significantly, indicating a potential cross-category market challenge, as women gamers often choose not to openly show their gaming preferences.
- Energy drinks consumption by age: 61% of Gen X and older consumers do not drink energy drinks.
- Market challenges: 30% of men aged 18-34 have consumed gamer energy drinks in the past three months, versus 13% of women of the same age.
Opportunities for Energy Drink Brands
The energy drinks industry is largely led from the front. But, with fast-growing brands like Celsius disrupting the market there are opportunities for others to follow their newly beaten path. Brands can find their niche by developing energy drinks that address consumer groups’ specific needs. For example, an ageing Older Millennial population signals an opportunity to cater to their desire for healthy energy drinks and energy drinks that provide sustained energy to allow them to accomplish work and health goals.
Reveal a thorough list of evidence-based opportunities and market strategies by buying the full report. Or, browse our extensive drinks market research and find exactly what you’re looking for.
Topics Analysed in This Report
- Consumer energy drink consumption vs other energising beverages.
- Energising beverage occasions.
- Perceptions of BFY energy drinks.
- Opportunities for energy drink brand differentiation.
Products and Brands Covered in This Report
Energy drinks – beverages that specifically claim to provide an energy or stimulation boost. Many generally include ingredients such as glucose, caffeine, taurine, ginseng, and various vitamins and minerals. The analysis includes brands that are labelled as either beverages or dietary supplements.
Energy shots – concentrated energy-boosting drinks that often contain caffeine and B vitamins. These products are usually available in 2- to 3-oz bottles or cans. Many energy shots are categorized as dietary supplements, rather than beverages.
Brands discussed: Red Bull, Monster, Reign, NOS, Celsius, Bang, PRIME, Fast Twitch, C4, Juvee, Glitch Energy, Alani Nu, Zoa Energy, Gorgie, Three Spirit, Kin Euphorics, BonBuz, and many more.
Expert Analysis from a Drinks Specialist
This report, written by Caleb Bryant, a leading drink sector analyst, delivers in-depth commentary and analysis to highlight current trends in the energy drinks market and add expert context to the numbers.
Energy drinks remain a growing segment of the wider beverage industry, its growth attributed to core category loyalists as well as category newcomers attracted by BFY energy drinks. The energising beverage landscape is rife with competitors, but energy drink brands can remain relevant by addressing consumers’ interest in health while also responding to consumers’ shifting energy needs.
Caleb Bryant
Associate Director of Food and Drink Reports
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Overview
- What you need to know
- This Report looks at the following areas
- Definition
- Market context
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Executive Summary
- Top takeaways
- Market overview
- Figure 1: Total US sales and fan chart forecast of energy drinks and energy shots, at current prices, 2017-27
- Figure 2: Category outlook, 2023-27
- Opportunities and challenges
- Fitness and gamer energy drinks creep up on legacy brands
- Figure 3: Energy drink consumption, by gender and age, 2023
- Energy drinks face strong competition from RTD coffee
- Figure 4: Correspondence Analysis – Symmetrical map – Occasions by energy providing beverage, 2023
- Bring energy to cocktails and mocktails
- Figure 5: Alcohol alternatives purchases, by sober curious consumers, 2022
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- Figure 6: Incidence and penetration* of cocktails with energy drink as an ingredient, Q3 2016 – Q3 2022
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Market Size and Forecast
- Category loyalists and new users drive the energy drink market to new highs
- Figure 7: Total US sales and fan chart forecast of energy drinks and energy shots, at current prices, 2017-27
- Figure 8: Total US sales and forecast of energy drinks and energy shots, at current prices, 2017-27
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- Figure 9: Total US retail sales and forecast of energy drinks and energy shots, by segment, at current prices, 2017-27
- Figure 10: Total US retail sales and forecast of energy drinks and energy shots, by segment, at current prices, 2017-27
- Category loyalists and new users drive the energy drink market to new highs
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Market Factors
- Population trends benefit the market and offer NPD opportunities
- Figure 11: Share of US population, by generation, 2022-27
- Job market remains healthy despite increased economic uncertainty
- Figure 12: Unemployment rate, January 2018 – January 2023
- Population trends benefit the market and offer NPD opportunities
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Key Players
- Market leaders face real competition
- Figure 13: Multi-outlet sales of energy drinks, by leading companies and brands, rolling 52 weeks 2021 and 2022
- Market leaders face real competition
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Competitive Strategies and Market Opportunities
- Tackle mental fatigue and keep consumers Staying Sharp
- Embrace the crossover between energy drinks and sports drinks
- Respond to gaming culture’s growing influence
- Figure 14: Energy drink consumption, gamer energy drinks, by gender and generation, 2023
- Energy drink glow up resonates with female audience
- Figure 15: Purchase intent score, select energy drink brands, by gender and age
- Figure 16: Attribute score: tasty, appealing packaging, and healthy by energy drink brands
- Capitalize on return of late 90s cocktail trends
- Figure 17: Incidence and penetration* of cocktails with energy drink as an ingredient, Q3 2016 – Q3 2022
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- Figure 18: Menu examples, cocktails with energy drink as an ingredient, Q3 2022
- Make energy drinks a fun alcohol alternative beverage
- Figure 19: Alcohol alternatives purchases, by sober curious consumers, 2022
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- Figure 20: Attribute score: fun and premium by energy drinks, CSDs, and RTD coffee
- Adapt as Older Millennials enter a new life stage
- Figure 21: Functional beverage attitudes, any agree, 2022
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The Consumer – Fast Facts
- Leading energy drink types consumed
- Competitive “energizing” beverages consumed
- Energy drink attributes sought
- Energy drink occasions
- Interest in energy drink innovation
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Energy Drink Consumption
- Energy drink hybrid beverages are an accessible entry point among younger women
- Figure 22: Energy drink consumption, by gender and age, 2023
- Young high-income consumers drive the BFY energy drink trend
- Figure 23: Energy drink consumption, by age and HHI, 2023
- Energy drink hybrid beverages are an accessible entry point among younger women
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Energizing Beverage Consumption
- Energy drink consumers enjoy a variety of energizing beverages
- Figure 24: Energizing beverage consumption, among energy drink consumers, 2023
- Figure 25: Energizing beverage consumption, by energy drink type consumed, 2023
- Coffee remains a close competitor
- Figure 26: Energizing beverage consumption, by gender and generation, 2023
- Energy drink consumers enjoy a variety of energizing beverages
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Primary Energizing Beverage Consumption
- Dominate the energizing beverage landscape through cross-occasion appeal
- Figure 27: Primary energizing beverage consumption, top three rank, top rank and any rank, 2023
- Target younger and older soda drinkers
- Figure 28: Primary energizing beverage consumption, top three rank, top rank and any rank, by generation, 2023
- Dominate the energizing beverage landscape through cross-occasion appeal
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Energizing Beverage Occasions
- High occasion overlap between energy drinks and RTD coffee
- Figure 29: Correspondence Analysis – Symmetrical map – Occasions by energy providing beverage, 2023
- Younger women turn to energy drinks for everyday occasions
- Figure 30: Occasions by energy providing beverage – Traditional energy drinks, by gender and age, 2023
- Gen Z consumes RTD coffee during the critical afternoon energy occasion
- Figure 31: Energizing beverage occasions, traditional energy drinks vs RTD coffee, by generation, 2022
- High occasion overlap between energy drinks and RTD coffee
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Energy Drinks vs Coffee: Perceptions
- Provide consumers unique flavor experiences
- Figure 32: Correspondence Analysis – Symmetrical map – Energy drinks vs coffee: perceptions, 2023
- Provide consumers unique flavor experiences
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Healthy Energy Drink Attributes
- Provide consumers sustained BFY energy
- Figure 33: Healthy energy drink attributes, 2023
- Young high-income consumers associate natural claims with healthfulness
- Figure 34: Healthy energy drink attributes, by age and HHI, 2023
- Target Black consumers with sports/energy drink hybrid beverages
- Figure 35: Healthy energy drink attributes, by race/ethnicity, 2023
- Provide consumers sustained BFY energy
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Energy Drink Product Interest
- Hydrate and energize
- Figure 36: Energy drink product interest, by gender and age, 2023
- Provide gamers a brain boost and extra XP
- Figure 37: Energy drink product interest, by energy drink types consumed, 2023
- Hydrate and energize
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Appendix – Data Sources and Abbreviations
- Data sources
- Sales data
- Forecast
- Consumer survey data
- Abbreviations and terms
- Abbreviations
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Appendix – The Market
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- Figure 38: Total US retail sales and forecast of energy drinks and energy shots, at inflation-adjusted prices, 2017-27
- Figure 39: Total US retail sales and forecast of energy drinks, at inflation-adjusted prices, 2017-27
- Figure 40: Total US retail sales and forecast of energy shots, at inflation-adjusted prices, 2017-27
- Figure 41: Total US retail sales of energy drinks and energy shots, by channel, at current prices, 2017-22
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- Figure 42: Total US retail sales of energy drinks and energy shots, by channel, at current prices, 2020 and 2022
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Appendix – Key Players
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- Figure 43: Multi-outlet sales of energy drinks and shots, by leading companies, rolling 52 weeks 2021 and 2022
- Figure 44: Multi-outlet sales of energy shots, by leading companies and brands, rolling 52 weeks 2021 and 2022
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