LONDON--(BUSINESS WIRE)--New market research study by Technavio on the energy drinks market in Latin America projects the market to grow at a CAGR of over 15% during the period 2019-2023. This research report provides an in-depth analysis of the market in terms of revenue, top drivers and emerging market trends. It also includes detailed insights and forecasts for all the market segments across different geographies.
The emergence of low and medium-priced energy drinks in Latin America
The competition in the energy drinks market in Latin America has intensified due to the emergence of low- and medium-priced energy drinks. These variants appeal to consumers because of their increased affordability. Although the economic condition of Latin America has improved considerably, many customers in the country still fall under the low- and middle-income segments. Thus, the growth in the demand for and the popularity of cheaper energy drinks have further increased the adoption of energy drinks, thereby driving the growth of the market.
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Rising adoption of natural ingredients in energy drinks
Increasing health consciousness among consumers in Latin America has led to a shift in their preferences pertaining to caffeine content and quality of natural and high-quality ingredients used during manufacturing. Therefore, major vendors have been focusing on including more natural ingredients in their energy drinks to meet the shifting consumer demand and have even launched sugar-free variants of their energy drinks. Thus, the increasing adoption of natural ingredients in energy drinks is a significant trend estimated to positively impact the growth of the energy drinks market in Latin America.
According to an analyst at Technavio for food products research, “Low-calorie, non-carbonated energy drinks have witnessed a surge in demand among the health-conscious consumers in Latin America as non-carbonated energy drinks generally offer low number of calories compared to carbonated energy drinks. Moreover, the growing number of organized retailing outlets has been quite instrumental in increasing the sales of low-calorie, sugar-free, and non-carbonated energy drinks, which is a major factor that will invigorate the growth of the energy drinks market during the forecast period.”
Adverse health effects associated with consumption of energy drinks
Energy drinks primarily comprise sugar and stimulants such as caffeine, and the frequent use of energy drinks can cause harmful health effects. The adverse health effects associated with the consumption of energy drinks is a significant challenge to the market and is expected to hinder the growth of the energy drinks market in Latin America during the forecast period, as health consciousness among consumers is growing and they are increasingly seeking low-calorie and reduced-sugar beverages.
Top players in the global energy drinks market in Latin America:
- Grupo Petrópolis
- Monster Energy Co.
- Red Bull GmbH
- The Coca-Cola Co.
Some of the key topics covered in the global energy drinks market in Latin America include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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