US Energy Drinks Market Report 2023
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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.
Yes. Total energy drink and energy shot sales in the US rose significantly in the years leading to 2022, and this growth was entirely driven by the energy drink category. Energy drink sales grew at an estimated inflation-adjusted CAGR of 8.5% from 2017 to 2022, reflecting the strong organic growth of the category.
The US energy drink industry is currently valued at $21.1bn worth of sales with estimated 2022 figures, and is forecasted to grow 7.2% to $22.7bn in 2023.
Energy drinks are largely a younger consumers’ category, with men aged 18-34 leading consumption. There is promise for younger women in the category however, and the narrowest gap exists between men and women for hybrid energy drinks (coffee, iced tea, etc).
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.
Find a comprehensive breakdown of the energy drinks market size (including forecast) and market share inside the report.
As discussed in our FAQs, young men lead the energy drinks category, and consumption decreases as age increases. Meanwhile, 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.
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.
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.
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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Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.