The global plant-based energy drink market is expected to grow at a considerable CAGR of 6.11% during the forecast period from 2022 to 2032. The plant-based energy drink market is expected to reach a valuation of US$ 16,285.7 Mn by the end of 2032 from US$ 9000 Mn in 2022.
As per FMI, hectic lifestyles of people are set to result in the high demand for plant-based energy drinks in Japan. People in Japan have been turning to plant-based energy drinks that can provide them with a healthy boost of energy without any negative side effects.
Plant-based energy drinks are usually made up of natural ingredients like fruit juices or tea, as well as consist of added vitamins and minerals. They do not contain sugar, caffeine, or artificial sweeteners.
In recent years, there has been an increasing demand for a wide variety of plant-based energy drinks in the country. Thus, several start-ups, as well as local companies are coming up with innovative drinks that are specifically designed for a particular age group or gender. For instance, there are numerous energy drinks available for women in Japan who want something gentler and nutritious than traditional energy drinks.
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In April 2020, for instance, Taisho Pharmaceutical Holdings based in Japan, launched the country’s first caffeine-free energy drink containing enXtra, a botanical ingredient. The ingredient has been clinically proven to enhance focus and alertness up to five hours with or without caffeine.
Furthermore, Japan is considered to have an ever-increasing health-conscious population in the world. Increasing trend for joining gyms and taking online workout sessions is also estimated to drive the market. It is expected to compel key manufacturers to invest huge sums in research activities to come up with healthy and nutritious energy drinks.
For instance, in March 2021, Monster Beverage Corporation debuted Super Cola, the company’s newest beverage, in Japan. The novel energy drink has a fizzy rush from Monster’s unique energy compound combined with the cola flavor. This launch is primarily aimed to increase the company’s product line and satisfy the high consumer demand for cola flavor.
As per FMI, the top three companies leading the Japan plant-based energy drink market include Otsuka America Pharmaceuticals Inc., Garden Lifestyle Inc., and Otsuka Holdings Co Ltd. They are currently focusing on providing high quality products to their customers.
Increasing prevalence of diabetes in the country is another crucial factor that is expected to drive the need for plant-based energy drinks in Japan. People suffering from diabetes are set to avoid sugar laden beverages, which would create multiple opportunities for leading companies.
Apart from that, the number of people in Japan who want to avoid animal fats for both ethical and dietary reasons has drastically increased in recent years. Thus, demand for plant-based beverages such as soy milk-based energy drinks is projected to surge in the evaluation period.
Key Takeaways from the Plant-Based Energy Drink Market
- The plant-based energy drink market in Japan is set to register a moderate CAGR during the forecast period.
- Japan is expected to account for a significant share in the global plant-based energy drink market over the next ten years.
- The plant-based energy drink market in Japan is projected to account for a significant market valuation by the end of 2022.
- Increasing demand for ready-to-drink beverages is expected to boost the demand for plant-based energy drinks in Japan.
“As plant-based energy drinks can help enhance the immune system and combat diseases like diabetes, demand for these products is set to remain high in Japan during the forecast period. Thus, key companies are expected to engage in collaborations with local players to co-develop new formulations.” – Says an FMI Analyst.
Competition Landscape in the Plant-Based Energy Drink Market
Key players are relying on online distribution channels for the marketing and branding of their products. Online distribution channels and innovative manufacturing are also providing a competitive edge to manufacturers to expand their market share across Japan.
Taisho Pharmaceutical Holdings, Red Bull, and Otsuka Pharmaceutical are some of the leading companies in the Japan plant-based energy drink market.
Recent Developments
- In April 2021, Red Bull unveiled its brand-new summertime cactus fruit beverage. The brand’s newest cactus fruit beverage boasts a flavor reminiscent of fresh red berries that was inspired by the desert vegetation. This brand-new taste has been introduced to help the firm capture a high market share and draw more customers.
- In 2020, Taisho Pharmaceutical Holdings introduced enXtra, a botanical substance that has been clinically shown to increase attention and alertness for up to five hours with or without caffeine in Japan. Caffeine-free drinks are in high demand in Japan as customers choose healthful beverages. As a result, this product innovation will expand the Japanese market for energy drinks.
Key Segments Covered in the Plant-Based Energy Drink Industry Analysis
Plant-Based Energy Drink Market by Type:
- Organic
- Natural
Plant-Based Energy Drink Market by End-User:
- Kids
- Teenagers
- Adults
Plant-Based Energy Drink Market by Distribution Channel:
- Supermarkets/Hypermarkets
- E-commerce
- Grocery Stores
- Convenience Stores
Plant-Based Energy Drink Market by Packaging Type:
- Bottles
- Cans
Plant-Based Energy Drink Market by Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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