2016 State of the Industry: Flavor innovations, natural ingredients impact energy drinks
Category experiences steady growth
According to Los Angeles-based IBISWorld’s May 2015 report titled “Energy Drink Production in the US,” 67 percent of the U.S. population is concerned about having enough energy to get through the day which, in turn, has fueled double-digit growth in the energy drinks segment during the past five years. Additionally, with $8 billion in revenue, the category outperformed most other beverage categories, it adds.
Although consumers’ fast-paced lifestyles have paved the way for a wide variety of products that cater to their need for energy, energy drinks do not rank at the top. In its May 2016 report titled “Energy Drinks – US,” Chicago-based Mintel states that energy drinks came in third as the category consumers turn to for energy. This was behind meal-replacement drinks and snack/cereal/energy bars based on a survey of 2,000 Internet users ages 18 and older through March 30.