The energy drinks market is projected to witness a compound annual growth rate of 9.12% in the next five years (2021-2026). And COVID-19 has surprisingly, been a catalyst for this growth. The pandemic did initially dent the industry with lockdowns and the closure of fitness clubs and sporting arenas but many consumers have moved to working out in the comfort of their homes, leading to a continued need for energy drinks.
At the end of 2020, many economies removed the strict lockdown measures and started opening up fitness clubs and sports clubs, resulting in the recovery of energy drinks sales. Growing health consciousness has grown demand for non-carbonated drinks; and with energy drinks claiming to improve performance, endurance and alertness, they are widely consumed by adolescents. Moreover, growth in the number of health-conscious consumers and growing rates of lifestyle-related diseases, have inspired health-oriented consumers to opt for healthier sugar-free drinks.
Despite stringent laws and a heavily-regulated environment, the market for energy drinks is recording growth owing to the high level of product innovation by players. Energy drinks are being manufactured in multiple flavours, which gives consumers more variety and choice. The added benefit of promotions and advertising strategies have also contributed to projected sales growth.
The high consumption of energy drinks and the massive coffee culture has pushed the notion of energy shots into the mainstream – another factor driving the sales of energy drinks. Energy drinks have also become an integral part of social gatherings, parties, and celebrations in South Africa and they are especially popular among college students and corporates as a substitute for coffee, which helps them stay alert during work. Moreover, these energy drinks are gaining popularity as they are used as mixers in popular alcoholic drinks.
Monster and Red Bull are the two largest of the many companies in the energy drinks market. Companies operating in the market are focusing on personalisation and convenience and are also beginning to provide healthy, zero-calorie, and low-sugar functional energy drinks to scale their energy drink portfolio.
Manufacturers of energy drinks are focusing on expanding their lines by introducing new flavours and categories to encourage frequent consumption and drive the market. It is about strength, energy, and speed. Sleek and colourful packaging attracts customers and the product itself is marketed as cool and trendy.
There is, however, space for new entrants who need to offer something different to survive. This encouraged GO&FUN Green energy drink to enter the market with a healthy and better-tasting product. GO&FUN is one of the new breeds of energy drink brands that have emerged and offer consumers a drink with natural ingredients – a much healthier proposition. Their line of products is made with four energizing plant extracts and an antioxidant, enriched with Vitamins B and C.
The basis of GO&FUN and the green energy drink concept market is the energy that comes from all-natural products formulated without the addition of Taurine, Glucuronolactone, preservatives, and dyes. GO&FUN’s products are formulated to provide energy and vitality to the mind and body in a way that makes quality the main objective. The ingredients include Ginseng, Rhodiola, Guarana, Mate, and Green Tea.
A fast-growing brand, GO&FUN is becoming popular amongst physically active people, health-conscious consumers, as well as the youth who are seeing GO&FUN, with its attractive packaging and dancing silhouettes, as a trendy and cool energy drink.
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