Energy and sports drinks are set to become a $166bn worth industry in 2022, with revenues growing by a CAGR of 4.5% year-over-year. Although the two drinks are bought by consumers worldwide, most revenues will come from only one country.
According to data presented by Sports Lens, consumers from the United States are expected to generate $96.7bn or nearly 60% of global sports and energy drink revenues this year.
The World`s Largest Sports and Energy Drinks Consumers
Sports and energy drinks revenues continued rising this year, despite weak consumer spending and surging prices of all food and beverage categories.
According to a Statista survey, last year, the market hit $159.1bn in revenue, up from $136.2bn in 2020, rising by 16.8% year-over-year. This year the annual revenue growth rate slowed down to 4.5% but is expected to triple and reach almost 13% in 2023.
Also, the revenue is forecast to hit nearly $188bn next year, up from $166.3bn in 2022. As the world`s largest consumer of sports and energy drinks, the United States is expected to generate 58% of that value.
Statista data show Americans will spend more than $96bn on sports and energy drinks this year, six times more than Chinese and Japanese consumers combined. As the world`s second-largest sports and energy drinks market, China is expected to see over $9bn in revenue this year, almost 55% more than third-ranked Japan. Indonesia and Spain round the top five list, with $4.9bn and $4.6bn in revenue in 2022, respectively.
Revenues Grow while Average Consumption Drops
According to Statista, the average revenue per capita of the global energy and sports drinks market amounted to $21.85 in 2022, up from $21.1 last year. However, Statista estimates this figure will reach $27.5 in the next three years.
Statistics show the average price per unit has increased by 7% since last year, from $6.33 to $6.79. This figure is expected to grow by another 15% and reach $7.82 in 2025.
However, while revenue and price grew, the average consumption dropped. According to Statista, the global per capita consumption of energy and sports drinks amounted to 3.22 liters in 2022, down from 3.22 liters a year ago. Still, Statista expects this figure to reach 3.51 liters in the next three years.