The European energy drinks market has demonstrated “robust growth” during the past year, according to a new report from market research firm Canadean.
The category’s anticipated 4.9% growth this year has been driven by innovation with flavours and ingredients, as well as the emergence of low-calorie options that meet a small but growing group of health-conscious consumers. Nearly 550m litres of energy drink are expected to be produced across the continent during the course of 2015.
Even in markets such as Greece and Russia, where consumers are spending less on beverages due to economic circumstances, energy drink volumes have remained stable. The category’s growth goes against a general decline in the European beverage sector, and still only accounts for less than 0.1% of overall beverage consumption.
Canadean analyst Angela Wynne said: “Energy drinks are highly submerged in people’s daily routines, which might be one of the reasons why they are so resilient in countries where other categories such as carbonates and beer have been continually declining.”
The volume of fruit-flavoured products has increased by around 11% in recent years, with new flavours such as orange, mojito, lemon-lime and pineapple-lime being launched.
“These new flavours are targeting consumers who do not like the classic taste of energy drinks and who use them for refreshment, especially during the summer time,” Wynne added. “The industry is trying to change the perception of the category and tap into the new health-conscious demographic to ensure its future growth.”
© FoodBev Media Ltd 2024