Caffeine Market
The caffeine market size was valued at $715.20 million in 2021, and is estimated to reach $1.2 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.
— Allied Market Research
PORTLAND, OREGON, UNITED STATES, July 28, 2023/EINPresswire.com/ — Increase in the number of people choosing active lifestyle and growing preference for caffeine beverages drive the growth of the global caffeine market. By application, the pharmaceutical segment contributed to the highest share in 2021. By region, on the other hand, LAMEA would showcase the fastest CAGR by 2031.
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Report coverage & details:
Forecast Period: 2022–2031
Base Year: 2021
Market Size in 2021: $715.20 Million
Market Size in 2031: $1.2 Billion
CAGR: 5.2%
No. of Pages in Report: 210
Segments Covered: Application, Type, and Region.
Drivers: Increase in the number of people choosing active lifestyle & Growing preference for caffeine beverages
Restraints: Certain allergic reactions associated with the consumption of caffeine & Side-effects of synthetic caffeine
Opportunities: Rise in the number of product launches
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The players operating in the caffeine market have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include JoinTown Pharmaceutical Group Co., Ltd., Spectrum Laboratory Products, Inc., Taj Pharma Group, CSPC Pharmaceutical Group Limited., Caesar & Loretz GmbH, Ravago Group, Aarti Industries Limited, BASF SE, Shandong Xinhua Pharmaceutical Co., Ltd., Jilin Province Synthetic Pharmaceutical Co., Ltd.
Most sports persons and athletes prefer consuming the energy drink, as it gives them an extra boost in energy, aids in sleep deprivation, maintains alertness, promotes wakefulness, and provides cognitive & mood enhancement. In addition, energy drinks and supplements are used by athletes to enhance the effects of alcohol using the central nervous stimulation of energy supplements to counteract the depressant effects of alcohol. Athletes consume such drinks to replenish lost energy after training in a competition. Moreover, these drinks provide energy and fluids to the body to reduce fatigue and improve performance.
The key players operating in this market such as Red Bull, and Monster Beverages Corporation, mostly target sports persons and athletes, as they consume energy drinks and supplements on a regular basis. Furthermore, aggressive marketing of energy supplements and the association of brands with sporting events & athletes have led to increased consumption of energy supplements by many athletes before the competition to enhance their performance. The increase in the consumption of energy drinks is expected to create caffeine market opportunities.
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Key findings of the study
The caffeine market was valued at $715.2 million in 2021 and is estimated to reach $1,194.0 million by 2031, registering a CAGR of 5.2% from 2022 to 2031.
By type, the natural caffeine segment is estimated to witness significant growth, registering a CAGR of 5.5% during the forecast period.
By application, the food segment is estimated to witness significant growth, registering a CAGR of 6.0% during the forecast period.
By region, Europe was the dominant region in 2021, occupying a major share of the market.
By region, LAMEA registered the highest growth rate and is expected to grow at a CAGR of 6.4% during the forecast period.
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