Energy products on the rise
August 26, 2008
by FoodBusinessNews.net Staff
CHICAGO — The energy drink market has grown to $4.8 billion, which is up more than 400% since 2003, according to Mintel International.
"Energy drinks have quickly become a daily beverage of choice," said Krista Faron, senior new product analyst at Mintel. "As more Americans use energy drinks, we’ve seen a rise in products being launched with innovative new ingredients, claims and consumer targets."
In 2003, only 9% of respondents to a survey said they drank energy drinks, and this number grew to 15% in 2008. Today, 35% of teens regularly consume energy drinks, up from 19% in 2003. In 2003, there were only 80 new energy drink launches in the U.S. according to the Global New Products Database, but this number jumped to 187 in 2007. So far in 2008 there have been more than 270 new energy drinks launched.
The energy segment also is expanding beyond just drinks.
"Energy bars are familiar to many Americans, but other energized foods, such as candy, chips, milk and cereal, are definitely not," Ms. Faron said. "We expect the concept of ‘energy’ — both physical and mental — to greatly influence food product development."
Caffeine, ginseng, guarana and taurine are energy ingredients making their way into various food offerings.
"Energy is poised to take food in a new direction, giving consumers who need a boost many different ways to get it," Ms. Faron said. "From natural energizers like omega-3s or antioxidants to foods that are fortified with energizing ingredients, we are seeing ‘energy’ to emerge as a core benefit in new food products."