Energy Supplements Market to reach USD 134.8 Bn at a CAGR of 6.9 percent over the forecast period

Pune, July 05, 2023 (GLOBE NEWSWIRE) — Maximize Market Research, a global Healthcare market research firm has published a competitive intelligence and market research report on the “Energy Supplements Market”. The Energy Supplements Market size was valued at USD 84.5 Bn in 2022. The total Energy Supplements Market revenue is expected to grow at a CAGR of 6.9 percent from 2022 to 2029, reaching USD 134.8 Bn during the forecast period.

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Energy Supplements Market Scope and Research Methodology

The report includes a detailed analysis of the Energy Supplements Market. The competitive analysis in the report includes a company overview, financial performance, product portfolio, and strategies of the key players in the Energy Supplements industry. Key insights provided in the report are the major drivers of the Market, the challenges faced by the market participants, and growth prospects in the Market across the world. The Energy Supplements Market report covers a detailed analysis of the investments of market players to increase their global presence in the industry, which makes it an investor’s guide.

The segments covered in the report are Product Type, End User and Sales Channel. Primary and Secondary research methods were used to collect data for the Energy Supplements market report. Primary research was conducted to validate the findings from the secondary research method. The Energy Supplements size was estimated by using a bottom-up approach.

Energy Supplements Market Overview

Energy Supplements are probably energy supplements consisting of minerals and vitamins, which can be taken regularly to support energy levels. The supplements are manufactured in capsule form, tablets, powders, and beverages, which are easy for consumers to consume. Supplements are formulated with minerals, caffeine, amino acids, and many herbal extracts. Growing preference for a convenient healthy lifestyle is expected to boost the Energy Supplements market.

Increasing awareness about sports and fitness to boost the Energy Supplements Market growth

Increased awareness about health and benefits from it with hectic schedules and increasing sports activities is boosting the demand for the Energy Supplements Market. The Gen Z generation is mostly addicted to the Energy Supplement market. Energy supplements help to uplift mood and prevent fatigue in consumers. Manufacturers are experimenting with different blends of elements such as green coffee beans, L-carnitine, and vitamin C. The energy supplement market offers a wide range of products catering to various preferences and needs. Manufacturers continuously introduce new formulations, flavors, and delivery formats to attract consumers. This variety and innovation contribute to market growth by appealing to different consumer segments.

Lack of Scientific Evidence studies in energy supplements for potential benefits, the overall scientific evidence supporting the efficacy and safety of energy supplements is limited. The lack of robust scientific research and clinical trials can create skepticism among consumers and healthcare professionals and is expected to affect market growth.

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North America region to witness Energy Supplement market growth over the forecast period

The North America region held the largest Energy Supplement Market share accounting 38 percent in 2022 and is expected to dominate the market over the forecast period. The sports nutrition segment, which includes energy supplements, plays a significant role in the North American market. Athletes, fitness enthusiasts, and individuals involved in intense physical activities often use energy supplements to enhance performance, improve endurance, and support post-workout recovery. Consumers in North America are increasingly seeking energy supplements with natural and clean label ingredients. There is a growing demand for products that are free from artificial additives, preservatives, and high sugar content. This consumer preference for healthier options influences product formulation and marketing strategies in the energy supplement market.

Energy Supplement market Segmentation

By Product Type

• Energy drinks
• Energy gels
• Energy bars
• Gummies

Based on Product Type, the market is segmented into Energy drinks, Energy gels, Energy bars, and Gummies. The energy drinks segment held the largest market in 2022 and is expected to dominate the market over the forecast period. The Energy Drinks segment hold more the 50 percent of market share. Energy drinks are consumed for quick and easy energy-boosting and to increase energy level easily. Popularity of energy drinks among the athletes and individual is expected to boost the Energy drinks segment growth in the Energy Supplement market. Companies are focusing on developing natural and organic based energy drinks to increase the demand for the energy drinks.

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By End User

Based on End-User, the market is segmented into Adults, Teenagers, and Kids. Adults segment held the largest Energy supplement market share accounting 55 percent in 2022 and is expected to dominate the market over the forecast period. Adults are mostly addicted to being fitness freaks and use energy supplements to boost their energy. Sports activities need more energy due to which players mostly consume energy supplements and is expected to boost the Adults segment growth in the Energy Supplement market.

By Sales Channel

• Hypermarkets and Supermarkets
• Convenience Stores
• Specialty Stores
• Online Channel

Energy Supplement market key players include

• GNC Holdings Inc.
• Abbott Laboratories
• Red Bull GmbH
• The Coca-Cola Company
• PepsiCo Inc.
• Amway Corporation
• Nestlé S.A.
• Glanbia plc
• Vitabiotics Ltd.
• BioTechUSA
• Olimp Laboratories
• Herbalife Nutrition Ltd.
• Yakult Honsha Co., Ltd.
• Bio-Engineered Supplements and Nutrition, Inc. (BSN)
• MusclePharm Corporation
• Swisse Wellness Pty Ltd.
• Nutrilite
• Nutrimed
• Pronat Indústria e Comércio de Alimentos Ltda.
• NeoLife International
• Usana Health Sciences, Inc.
• Swiss Arabian Perfumes Group
• Nutrition Valley
• Vitaspace
• Fitness Fuel Factory
• BPI Sports
• MuscleTech

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Key questions answered in the Energy Supplement Market are:

• What is the Energy Supplement Market?
• What was the Energy Supplement market size in 2022?
• What is the expected Energy Supplement market size by 2029?
• What is the growth rate of the Energy Supplement Market?
• Which are the factors expected to drive the Energy Supplement market growth?
• Which segment dominated the Energy Supplement market growth?
• What is the demand pattern for the Energy Supplement market?
• Which region held the largest share in the Energy Supplement market?
• Who are the key players in the Energy Supplement market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022−2029
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation – A detailed analysis by Product Type, End User, and Sales Channel
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

Maximize Market Research is leading Healthcare research firm, has also published the following reports:

Gummy Supplement Market: The total market size was valued at USD 7.61 Bn in 2022 and is expected to reach USD 17.46 Bn by 2029, at a CAGR of 12.6 percent. Convenience and Enjoyment while appealing to a wider consumer base is expected to boost market growth.

Pet Supplements Market: The total market size was valued at USD 3.4 Bn. in 2022 and the total Pet Supplements revenue is expected to grow by 5.9 percent from 2023 to 2029, reaching USD 5.08 Bn. Increasing ownership and humanization of pets is expected to boost the market growth.

Probiotic Supplements Market: The total market size was valued at USD 55.5 Bn in 2022 and is expected to grow at a CAGR of 9.5 percent from 2023 to 2029, reaching USD 104.5 Bn. increasing consumer awareness of the benefits of probiotics for digestive health is expected to boost the market growth.

Collagen Supplements Market: The total market size was valued at USD 2.22 Bn in 2022 and is expected to reach USD 3.54 Bn by 2029, at a CAGR of 6.9 percent over the forecast period. Huge spending on R&D activities is expected to boost the market growth.

Probiotics-Based Dietary Supplements Market: The total market size was valued at USD 7 Bn in 2022. The Global Probiotic-based Dietary Supplements Market size is estimated to grow at a CAGR of 7.1 percent over the forecast period reaching USD 11.3 Bn.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.