South Korea Energy Drinks Market Outlook

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

Market Dynamics

the south korean energy drinks market is forecasted to experience strong growth during the period of 2018 to 2032. factors such as the rising health consciousness and increasing need for energy due to a busy lifestyle are driving the demand for energy drinks in south korea. the market is also witnessing the growing popularity of energy drinks among the younger population. in terms of sales volume, the south korea energy drinks market is estimated to post a cagr of 7.4% between 2018 and 2032. this is mainly because of the increasing demand from female consumers, who make up a big part of the total energy drink market. with an estimated 8.2 million populations aged 19-40 across the country, the market offers immense potential for market players. in addition, the growth of the south korean economy and the rising disposable income among consumers has enabled them to purchase premium and functional beverages. this trend is expected to continue during the forecast period. furthermore, the demand for lifestyle and food products is expected to increase with the growing trend of health consciousness in the country. this will create more opportunities for energy drink manufacturers in south korea. moreover, the presence of international companies such as red bull and monster in the market is also expected to contribute to the growth of the market during the forecast period. in terms of product type, the market is estimated to be dominated predominantly by concentrate energy drinks with a market share of around 59.5% in 2018. this is mainly attributed to their longer shelf life and availability in multiple flavors. however, the market share of powdered energy drinks is expected to increase during the forecast period. overall, the south korea energy drinks market is expected to witness strong growth over the period of 2018 to 2032. this is attributed to the increasing demand for energy drinks among the younger population, which is driven by the growing health consciousness. the rising disposable income of consumers and the presence of international companies in the market will also drive the growth of the market.