Africa Energy Drinks Market Outlook 2031:
The Africa energy drinks market size was valued at USD 2.11 Billion in 2022 and is projected to reach USD 4.12 Billion by 2031, expanding at a CAGR of 7.71% during the forecast period 2023 - 2031. The growth of the market is attributed to rising the demand for energy drinks with health benefits and longer storage stability.
Energy drink refers to beverage that contains high levels of enhancing ingredient, usually caffeine as well as supplements, such as vitamins or carnitine. They are promoted as a product capable of improving mental awareness and physical activity. Energy drinks are divided into sports drinks and soft drinks. Sports drinks are used to replace water during or after physical activity. Soft drinks contain relatively small amounts of caffeine.
The COVID-19 pandemic led to an unexpected global public health emergency. which affected almost all industries. During the COVID-19 period, consumers became more health conscious, which changed consumers behavior, demand, and purchasing patterns.
Africa Energy Drinks Market Trends, Drivers, Restraints, and Opportunities
- Changing consumers’ lifestyle is projected to boost the market growth.
- Growing customer preference for energy drink is estimated to spur the market growth in the coming years.
- Rising population and urbanization is anticipated to drive the market growth during the forecast period.
- Lack of robust distribution channel in emerging economies can create challenges for the market growth.
- Rising consciousness about healthy eating has enhanced the product demand that improves high protein diet, and immunity, which in turn, has created ample of opportunities for the market.
Scope of the Africa Energy Drinks Market Report
The report on the Africa energy drinks market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Africa Energy Drinks Market- Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product Types (Drinks, Shots, and Mixers), Packaging Types (Bottles [PET and Glass], Cans, and Others), and Distribution Channels (Supermarkets/ Hypermarkets, Specialty Stores, Convenience Stores, and Others)
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Country
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Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Monster Beverage Corporation; Red Bull; The Coca-Cola Company; Campbell Soup Co.; and Rockstar, Inc.
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Africa Energy Drinks Market Segment Insights
Shots segment to hold a significant market share
Based on product types, the market is divided into drinks, shots, and mixers. The drinks segment is anticipated to hold a key share of the market in the coming years.
Energy drinks usually provide good source of B vitamins such as vitamin B12, B6, Niacin (B3), and Riboflavin (B2). However, the shots segment is anticipated to expand at a rapid pace during the forecast period. Energy drink shots reduce blood sugar as well as risk of heart diseases and menstrual pain.
Glass bottles segment is projected to expand at a considerable CAGR
On the basis of packaging types, the market is segregated into bottles, cans and others. The bottle segment is divided into PET, and glass. The cans segment is anticipated to hold a key share of the market in the coming years due to increasing demand for packaging that can preserve beverage for long-term. On the other hand, the glass bottle segment is anticipated to expand at a rapid pace during the forecast period owing to its recyclability properties.
Convenience segment is anticipated to constitute a significant market share
In terms of distribution channels, the market is segregated into supermarket/hypermarkets, specialty stores, convenience stores, and others. The supermarkets segment is expected to constitute a significant share of the market during the forecast period as consumers has freedom to select in a variety of drinks.
Various varieties of energy drinks are available under one roof. On the other hand, the convenience stores segment is projected to constitute a major market share in the projected timeline.
South Africa to account a major market share
Based on geography, the market is categorized as Nigeria, Ethiopia, South Africa, and Rest of Africa. The market in South Africa is estimated to grow at a robust rate during the forecast period. Increasing adoption of fitness activities and sports activities is driving the growth of the market in the country. Moreover, increasing penetration of major industry players is spurring the country’s market growth.
Segments
The Africa energy drinks market has been segmented on the basis of
Product Types
Packaging types
Distribution Channels
- Supermarkets/ Hypermarkets
- Specialty Stores
- Convenience Stores
- Others
Geography
- Nigeria
- Ethiopia
- South Africa
- Rest of Africa
Key Players
Competitive Landscape
Key players competing in the Africa energy drinks market includes Monster Beverage Corporation; Red Bull; The Coca-Cola Company; Campbell Soup Co.; and Rockstar, Inc.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.
In 2019, The Coca Cola Company launched a drink namely ENERGY in South Africa, which is available in 300ml cans.
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