(Entertainment-NewsWire.com, August 06, 2024 ) Energy Ingredients Market in terms of revenue was estimated to be worth $21.96 billion in 2023 and is poised to reach $41.91 billion by 2031, growing at a CAGR of 8.56% from 2024 to 2031 according to a new report by InsightAce Analytic.
Latest Drivers Restraint and Opportunities Market Snapshot: Key factors influencing the global energy ingredients market are: Rapid urbanization Increasing interest in wellness and fitness Greater focus on nutritional supplements and other wellness goods
The following are the primary obstacles to the energy ingredients market's expansion: Strict governmental rules and regulations Consumers' changing views Consumers lack of knowledge of emerging technology
Future expansion opportunities for the global energy ingredients market include: Growing demand for all-natural, plant-based products Growing inclination towards substitute nutritional supplements Popularity of concentrated food items is rising
Market Analysis:
The energy ingredients market is currently experiencing expansion due to the rising consciousness among consumers about the value of a balanced diet and the significance of establishing and maintaining good eating habits. Furthermore, people are trying to eat healthier due to the increasing number of lifestyle-related illnesses, including diabetes, cardiovascular ailments, and obesity. The increasing demand for food items containing protein components is also driving industry expansion and presenting enormous possibilities to boost the energy ingredients market expansion.
List of Prominent Players in the Energy Ingredients Market: RFI Ingredients Korea Ginseng Corporation Orkla ILHWA CO., LTD. Applied Food Sciences, Inc. (AFS) Naturalin Bio-Resources Co., Ltd. Changsha Huir Biological-Tech Co., Ltd. Sinochem Pharmaceutical Co., Lt KOEI KOGYO CO., LTD Aarti Industries Ltd. Other Prominent Players
Recent Developments: In December 2023, Nexba launched Natural Energy, the first energy drink in the UK to contain vitamins, prebiotics, and zero sugar and caffeine. In November 2023, Korean Ginseng launched a brand-new product range named Koreselect. Ashwagandha, elderberry, beetroot, milk thistle, American ginseng, and women's probiotics are some of the latest specific function supplements available online. The current Koreselect brand family, which includes several items based on Korean red ginseng and is aimed squarely at the health-conscious American consumer, is expanding with these additional items. In September 2023, Rhτne, a worldwide private equity group specializing in investing in companies with a transatlantic presence, and Orkla established collaboration with them. Rhτne-affiliated investment funds will own a fourth of Orkla Food Ingredients AS. The deal implies a total of NOK 15.5 billion.
Energy Ingredients Market Dynamics:
Market Drivers: Growing Number of Consumers Recognize the Importance of Maintaining a Healthy Lifestyle Increasing consumer awareness is a major driver of the global market. The demand for products with energy ingredients has increased due to the increasing consumer knowledge of the necessity of leading a balanced lifestyle and the benefits of additives that boost energy. The increasing interest in health and fitness worldwide has led to an increase in the demand for energy-enhancing substances in various food and drink styles. The market is anticipated to experience a rapid increase due to the need for energy ingredients derived from organic and natural sources, which has been driven by the increasing desire for natural and organic products among consumers. Sports nutrition solutions that include energy elements are in high demand due to the rising attraction of sports and fitness activities, boosting market expansion.
Challenges: Customers' Shifting Opinions Several limiting constraints are anticipated to impede global market advancement throughout the forecast period. A major challenge is a rising need for alternative energy products that are less harmful and more environmentally friendly, as consumer tastes are always changing. It can be challenging to meet these evolving tastes while not sacrificing the efficacy of energy components. Furthermore, strict safety requirements and regulations are common in the energy ingredients industry. Increasing concerns over energy product ingredients' safety, packaging, and health claims are challenging because a lack of knowledge hinders market growth.
North America Is Expected To Grow With The Highest CAGR During The Forecast Period The North American energy ingredients Market is likely to register a significant revenue share and develop at a rapid CAGR in the near future. This is because of rapid economic growth and increased urbanization. Many people, particularly those concerned about their health, see these substances as better options than carbonated beverages. Furthermore, the energy ingredient market worldwide is developing due to increased consumption in this region. Increases in discretionary income and living standards have contributed to a surge in the sale of energy ingredients in this region. Furthermore, the energy ingredients market forecast indicates that several factors, increasing popularity and rising consciousness about the significance of sustaining robust energy and general health, are the forces driving this regional area forward.
By Application- Food Beverage Supplements Others
By Region- North America- The US Canada Mexico Europe- Germany The UK France Italy Spain Rest of Europe Asia-Pacific- China Japan India South Korea South East Asia Rest of Asia Pacific Latin America- Brazil Argentina Rest of Latin America Middle East & Africa- GCC Countries South Africa Rest of Middle East and Africa
About Us: InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
