Energy Ingredients Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, August 26, 2024 /EINPresswire.com/ -- The global energy ingredients market is set to experience robust growth, expanding from $24.31 billion in 2023 to $26.3 billion in 2024, driven by a compound annual growth rate (CAGR) of 8.2%. Despite past challenges, including fossil fuel dependency and fluctuating energy prices, the market is projected to reach $36.07 billion by 2028, at a compound annual growth rate (CAGR) of 8.2%. This growth is attributed to factors such as hydrogen as a clean energy carrier, a global shift to renewable energy, and initiatives focused on energy efficiency and rural electrification.
Rising Demand for Clean and Renewable Energy The energy ingredients market is significantly influenced by the global transition to cleaner energy sources and increasing efforts to reduce carbon emissions. The rise in hydrogen as a clean energy carrier and the emphasis on energy efficiency are pivotal in this market's expansion. Additionally, rural electrification programs contribute to this growth, supporting broader access to energy resources.
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Major Players and Product InnovationsKey companies in the energy ingredients market include BASF SE, Spectrum Chemical Mfg. Corp., RFI Ingredients Inc., and Red Bull GmbH. These companies are focusing on product innovations to maintain their competitive edge. For example, PepsiCo's launch of the Rockstar Unplugged energy drink in February 2022, featuring hemp seed oil and B vitamins, highlights the industry's trend toward integrating natural and functional ingredients to offer unique energy boosts.
Trends Shaping the MarketSeveral major trends are shaping the energy ingredients market:• Natural and Clean-Label Ingredients: Increasing demand for transparency in ingredient sourcing.• Plant-Based Energy Ingredients: Growing preference for plant-derived sources.• Innovations in Functional Beverages: New formulations enhancing energy and performance.• Sustainable and Ethical Sourcing: Focus on environmentally friendly and ethical practices.• Customized and Personalized Nutrition: Tailored solutions for individual dietary needs.• Clean Energy Alternatives: Adoption of energy sources with minimal environmental impact.The expansion of e-commerce is also driving market growth by providing convenient and accessible purchasing options, which has significantly boosted energy ingredients sales.
Market SegmentationThe energy ingredients market is segmented as follows:• By Product: Caffeine, Creatine, Taurine, Ginseng, Other Products• By Distribution Channel: Supermarkets or Hypermarkets, Specialty Stores, Convenience Stores, Online Retail Stores, Other Distribution Channels• By Application: Food, Beverage, Supplements, Other Applications
Geographical Insights: North America Leading the MarketNorth America was the largest region in the energy ingredients market in 2023. However, Asia-Pacific is anticipated to be the fastest-growing region during the forecast period. This region's rapid economic growth and increasing consumer demand for energy products are key drivers of its market expansion.
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Energy Ingredients Global Market Report 2024 from TBRC covers the following information:• Market size data for the forecast period: Historical and Future• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Energy Ingredients Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on energy ingredients market size, energy ingredients market drivers and trends, energy ingredients market major players, competitors' revenues, market positioning, and market growth across geographies. The energy ingredients market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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August 26, 2024, 16:19 GMT
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