Energy supplements are the supplements that are used to stimulate energy production in the body. The energy supplement comes under different types of products like energy bars, energy drinks, capsules, and liquid/powder protein drinks. Ingredients such as Caffeine, Ginseng, Coenzyme Q10, Coenzyme B3, Guarana, Taurine, B Vitamins, Sugars, and others are used for the formulation of energy supplements. Energy supplements are consumed to drive short-term health benefits, improved immunity, energy boost, better performance, and taste. Initially, the energy supplement market was considered as sports nutrition and was mainly targeted to sports professionals, bodybuilders and athletes. But in recent years it has shown a wide range of diverse consumer base that is focusing on the importance of being fit and healthy. The global energy supplements market is expected to grow due to increasing demand by stressed-out professionals, on-the-go parents and fatigued seniors looking for more energy to meet their daily needs. Some of the countries that have gained a leading position in the energy supplements market are the US, Italy, Brazil, Austria, and Canada. There is a noticeable rise in the production and consumption of energy supplements in these countries. These conditions have opened up opportunities for natural energy supplements, which can help people resolve their nutritional deficiencies and maintain high energy levels for their day-to-day activities.
Diversification in the consumer base for the short term energy boost
The change in the modern lifestyle of the consumer has led to the over-working, stressed-out professionals, and lack of sleep. This has led the consumer to search for ways to maximize each day by the quick boost of energy provided by energy supplements. Multi-tasking consumers also drive the demand for the energy supplements that offers quick results in convenient delivery systems. Trends today show that the energy supplement manufacturing industry is being increasingly driven by stressed-out professionals, on-the-go parents and fatigued seniors looking for more energy to meet their daily needs. The demand for energy supplements in consumers is increasing due to rising muscle building and interest in exercising activity trends. Health benefits that are provided by energy supplements such as immunity, mental clarity, weight loss, and improve digestion has also driven the demand for the energy supplement in the consumers. Consumer preference has changed towards natural products that do not contain additives, preservatives and have high use of natural sugars, natural fruits, vegetables, whole grains, and protein. Rising awareness in consumers for the natural base product has generated demand for the natural base energy supplement products containing Rhodiola Rosea and Ginseng. The restraint for energy supplements is the over-consumption of the energy supplement by the consumer for the perceived physiological benefits without aware about its potential risks can cause harm to the consumer and create a negative impact among consumers of energy supplement.
Global Energy Supplements: Market Segmentation
On the basis of nature, the energy supplements market is segmented as:
On the basis of type, the energy supplements market is segmented as:
- Energy bars
- Energy drinks
- Powder proteins.
On the basis of the distribution channel, the energy supplements market is segmented as:
- Drug stores
- Online stores
- Specialty stores
Global Energy Supplements Market: Key Players
- Maxinutrition Ltd
- PepsiCo Inc
- The Coca-Cola Company
- Glanbia Plc
- Monster Beverage Corporation
- Nestle S.A
- Yakult Honsha Co Ltd
- Unilever PLC
- Red Bull North America Inc
- Abbott Laboratories
Opportunities for Market Participants
Rising interest in exercising activities among the young generation has created an opportunity for manufacturers to target dynamic economic countries in the Asia Pacific and Latin America with a young consumer base which will drive sales of energy supplement in these regions. An emerging rise in the per capita income of consumers in developing countries like India, China, Indonesia, has created a great opportunity for the manufacturers as consumers are willing to spend money for better quality, performance, and taste. The natural synthesis energy supplement is trending in the energy supplement market which provides energy supplement manufacturing companies an opportunity to expand the product line in the natural alternatives sector. Regardless of this stance, with new government regulations, companies are moving to develop new varieties of safe and effective ingredients for energy supplements to meet regulatory and consumer demands. Thus creating an opportunity for innovation in energy supplement product line through research and development in the companies.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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