Canada Energy Drinks Market Outlook

Synopsis
The above chart is Canada Energy Drinks Market Outlook (2018 to 2032)

Market Dynamics

The outlook for the canadian energy drinks market from 2018 to 2032 is largely positive and projected growth for the entire energy drinks market is expected to remain healthy across the forecast horizon. according to a report published by industryarc, the global energy drinks market had a value of usd 54.14 billion in 2018 and is estimated to reach over usd 68.62 billion by 2023, indicating a positive forecast and growth of more than 23%. in canada, the energy drinks market has also experienced steady growth with the current value estimated to be usd 1.85 billion. this is expected to grow at a compound annual growth rate (cagr) of 6.2% throughout the forecasting period from 2018 to 2032, reaching a total value of usd 3.25 billion. this growth reflects the increasing demand for energy drinks among canadian consumers across a range of demographic groups. the canadian energy drinks market is driven by the rise of ‘energy-centric’ lifestyle habits among millennials and generation x, the appeal of easy-to-consume and fast-acting energy boosts, as well as the proliferation of energy drinks flavoured with natural ingredients. additionally, manufacturers are introducing sugar-free, zero-calorie, and even caffeine-free versions to cater to health-focused consumers who appreciate the drinks without the risk of negative side-effects. in terms of segmentation, the canadian energy drinks market is largely segmented by product type and regional geography. by product type, energy drinks are categorized as full sugar, reduced sugar, and sugar-free. packaging types vary by size and shape and include cans, bottles, and jars. by geographical region, the market is segmented into the east, west, central, and north regions. with regards to the dominant player in the market, red bull dominates with a 49% market share, followed by monster energy with 39%, and rockstar with 12%. it's worth noting that the market is becoming increasingly competitive as new players, such as celsius, fnx, and sotox, enter the fray. overall, the outlook for the canadian energy drinks market is mostly positive, with the forecasted cagr of 6.2% from 2018 to 2032. this growth will be driven by the increasing demand for energy drinks and the introduction of new, health-focused and innovative products.