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World energy drinks Research
The energy drinks industry comprises beverages such as energy drinks, energy shots and energy drink mixes. Energy drinks are known as beverages that promise to give the consumer an extra energy boost. They are typically high in caffeine and contain additional ingredients including taurine, guarana and B vitamins. Energy shots are a more concentrated form of energy drinks and contain a larger amount of the primary ingredient caffeine. Energy drink mixes as the third subcategory come packaged as powder and may be mixed with water or juice. Energy drinks are assumed to be quite popular among younger age groups who mostly consume energy drinks to wake up or stay awake, increase their mental performance or to enable them to concentrate longer.
Energy Drinks Market in China. Concerning global beverage consumption in 2021, China is expected to reach a 47.2 percent share, according to Beverage Daily, compared to the prediction of a 17.9 percent share of North America and Western Europe combined. Functional beverages have especially been enjoying a higher demand recently. Functional beverages are a sub-sector of the non-alcoholic industry and canned beverage, for instance, further classified into energy-, sports, or nutrient-enhanced drinks. Sports drinks primarily contain sodium, potassium, and magnesium, whereas nutrient-enhanced drinks usually include an extra supplement of vitamins, as reported by the Global Times. However, especially energy drinks, which already make up most of the functional beverages, are growing rapidly. According to China’s General Administration of Quality Supervision and Standardization Administration, energy drinks are classified as “drinks with other special functions” as they contain caffeine, taurine, and sugar together with other ingredients such as guarana and B vitamins. Statista shows that the retail sales value of canned energy drinks in China increased immensely from CNY 9 billion in the year 2009 to an estimated CNY 87.5 billion in 2019.
Over the past decades, China’s industrialization and urbanization have been in the process of converting a large population to urban dwellers. Due to that, increased regulations economic growth has continued to soar and develop into a market-based economy. The rising income and disposable income levels, and a constant improvement of living standards of Chinese people have resulted in modernized, busier lifestyles which is one of the primary drivers of the increase in demand. The largest energy drink market China also has the highest growth rate in the world.
Canned and bottled energy drinks are now sold everywhere in China, from supermarkets & hypermarkets to convenience stores, grocery stores, bars, nightclubs, and online. They have been enjoying a surge in popularity nationwide among its primary consumers such as gym goers, sports people, the working class, and school students who prefer a boosting beverage to recover their energy and stay awake. China remains a fertile ground for the beverage market, and its energy drink segment and the vast market has attracted many businesses. However, the leading international player Red Bull dominates it. Competition is, therefore, rough. Red Bull in China unequivocally maintains the top position in the market.
Bloomberg reports Red Bull having global energy-drink sales of $43 billion in 2015 and a global market share of 30.2 percent. Comparing global revenue of Red Bull in 2015 to their main competitor, Monster Beverage Corp with a market share of 21.10 percent, the picture on Chinese grounds looks entirely different. Red Bull in China, which is not carbonated, accounts for a significant market share of about 80 percent. Eastroc Super Drink follows with about 10 percent, and others like Dali’s Hi-Tiger or Wahaha’s Qili share the remaining. Also, Monster Beverages has entered the Chinese market. According to Reuters, Coca-Cola Co bought a 17 percent stake in Monster Beverage Corp, also seeking to expand into the fast-growing energy drink category.
ASSO regards each project as the best communication bridge between us and our customers. ASSO solemnly promises that ASSO will treat each project as our most important customer project. We will go all out and never give up. ASSO regards each other's excellence as the purpose of our service. ASSO's services involve regional analysis, market data, player share, market decision-making, marketing and product positioning
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