Mintel: Energy drinks market needs boost
August 11, 2010
CHICAGO — Despite the fact the energy drink market has increased 136% in sales from 2005 to 2009, manufacturers are having difficulties attracting new customers, according to Mintel International.
In fact, 74% of respondents Mintel surveyed said they don’t consume energy drinks/shots, and 69% of the non-users said they are not interested in trying them.
“Sales of energy drinks and shots have remained relatively strong for the last few years, but the same core group of customers continues to buy them,” said Garima Goel Lal, senior analyst at Mintel. “The category added only one million new energy drink users aged 18+ during 2007-2009, compared to 9.3 million new users during 2005-2007, so manufacturers are eager to grow that number again.”
Those who don’t use energy drinks and shots claim high prices, too much caffeine and a belief that the beverages aren’t good for you are the main reasons they have against entering the market.
“The fact that 7 out of 10 people are not interested in the energy drink category suggests the need for manufacturers to develop products aimed at a wider audience,” Ms. Goel Lal said. “Providing consumers with more flavors, less sugar and reduced caffeine content are all ways for companies to attract more customers.”
When it comes to reasons consumers use energy drinks and shots, getting an energy boost, help staying awake and mental alertness are the top motivating factors.