Energy Ingredients Global Market Report 2023
Major players in the energy ingredients market are BASF SE, Spectrum Chemical Mfg. Corp., RFI Ingredients, Korea Ginseng Corporation, Orkla, ILHWA Enzyme Fermented Ginseng, Applied Food Sciences Inc. (AFS), Naturalin Bio-Resources Co.
New York, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Energy Ingredients Global Market Report 2023" - https://www.reportlinker.com/p06479702/?utm_source=GNW
Ltd.., Changsha Huir Biological-Tech Co. Ltd., Sinochem Pharmaceutical Co., Ltd., Graham Chemical, Mutalo Group, Red Bull GmbH, Musashi Energy, and GURU Organic Energy Drinks.
The global energy ingredients market is expected to grow from $22.44 billion in 2022 to $24.31 billion in 2023 at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The energy ingredients market is expected to reach $32.94 billion in 2027 at a CAGR of 7.9%.
The energy ingredients market consists of sales of B vitamins, ginkgo biloba, guarana, glucuronolactone, and l-carnitine.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Energy ingredients refer to the ingredients that are used for energy or powdered drinks for the consumption of customers. It is used in energy drinks to give energy and health benefits to people of all ages.
North America was the largest region in the energy ingredients market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in energy ingredients report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of energy ingredients are caffeine, creatine, taurine, ginseng, and others.Caffeine refers to a substance present in coffee tree leaves and beans, guarana berries, tea, yerba mate, and in minor amounts in cocoa.
These are distributed through various distribution channels such as supermarkets or hypermarkets, specialty stores, convenience stores, online retail stores, and others, used in various applications such as food, beverage, supplements, and others.
The increasing demand from end users such as the food and beverage industry is expected to boost the growth of the energy ingredients market going forward.The food and beverage industry refers to all businesses that handle the processing, packaging, and distribution of uncooked food.
Energy ingredients are used in various food products and beverages as they provide various nutritional supplements that are beneficial for an individual’s health.For instance, in 2023, according to the Food & Drink Federation, a UK-based organization that represents and advises UK food and drink manufacturers, the exports of food and drink increased by 31% in 2022 compared to 2021.
Additionally, the food and beverages industry has a turnover of US$3.52billion (£10.3 billion) in 2022, accounting for 33% of total Scottish manufacturing. Therefore, the increasing demand from end users such as the food and beverage industry is driving the growth of the energy ingredients market.
Product innovations have emerged as the key trend gaining popularity in the energy ingredient market.Major companies operating in the energy ingredients market are developing innovative products to strengthen their position in the market.
For instance, in February 2022, PepsiCo, a US-based food and beverage company, launched Rockstar Unplugged energy drink with an innovative blend of hemp seed oil and B vitamins.The unique features of Rockstar Unplugged with these ingredients provide fruit-forward energy boosts that assist in maintaining a free-flowing, easy-going, and soul-fueling attitude for any mood or circumstance.
This drink is designed to offer a good dose of caffeine with a new sugar-free and calorie-free beverage for the customers.
In June 2022, Fuerst Day Lawson Ltd., a UK-based food company acquired Quest Ingredients Ltd. for an undisclosed amount. With this acquisition, Fuerst Day Lawson Ltd aims to expand its portfolio of ingredients and formulated solutions in Europe and the United States. Quest Ingredients Ltd. is a UK-based company involved in manufacturing energy ingredients such as active botanical extracts, and herbal ingredients.
The countries covered in the energy ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The energy ingredients market research report is one of a series of new reports that provides energy ingredients market statistics, including energy ingredients industry global market size, regional shares, competitors with an energy ingredients market share, detailed energy ingredients market segments, market trends and opportunities, and any further data you may need to thrive in the energy ingredients industry. This energy ingredients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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