PepsiCo remains the world’s second largest soft drinks company, with strong positions in carbonates, sports drinks, bottled water, and energy drinks. While mature markets show stagnant volume growth, emerging markets offer inflation-driven value gains. Strategic acquisitions like Poppi reflect a pivot towards functional, low-sugar beverages. Competitive pressure from Coca-Cola and private label brands continues to shape the landscape.

Energy drinks saw yet another year of double-digit off-trade volume growth in Brazil in 2024, with increasing sales of both regular and reduced sugar energy drinks, although regular continued to dominate. In Brazil, the consumption of energy drinks is driven by multiple factors, including their appealing taste, the energising and alertness-enhancing effects of caffeine, their association with social events, and the desire for a productivity boost, particularly during work or when studying. The i

In addition to being a key player in its domestic alcoholic drinks market, leading in spirits, Suntory Holdings is the number two player in soft drinks in Japan, holding the top spot in both the RTD tea and bottled water categories. While its international coverage is relatively limited in soft drinks, it has a number of important brands in France and the UK in Europe as well as in Australia and New Zealand.

Energy drinks has continued to demonstrate robust growth in 2024, positioning itself as one of the most resilient product areas within the otherwise subdued Estonian fast-moving consumer goods (FMCG) market. Despite broader economic pressures and challenges impacting other beverage categories, energy drinks have proven to be an exception, consistently attracting consumer interest and delivering solid performance. This success highlights the enduring appeal of energy drinks across diverse consume

In 2024, Coca-Cola Beverages Pakistan Ltd relaunched its Roar energy drinks brand for the third time in Pakistan. Sales look promising this time around as the company has made availability its priority. There is also positive feedback from consumers with signs that Roar has been well-received in 2024. The relaunch was supported by extensive marketing efforts, including the creation of a strong brand image that resonates well with local consumers?. Volume and value sales remain quite low as consu

Having surged earlier in the review period, annual growth in off-trade volume sales of energy drinks slowed to low single digits in 2024. The primary reason for this deceleration was the increase in unit prices, driven largely by the introduction of an excise tax: Since the beginning of April 2024, carbonated drinks containing sugar or other sweeteners have been subject to an excise tax of UZS500 per litre, while energy drinks face a UZS2,000 per litre tax. In addition to the new tax, rising pro

Energy drinks in Serbia are experiencing further strong volume growth in 2024 as they are increasingly popular amongst younger consumers with increasingly busy lifestyles. Frequent price discounts are also stimulating consumption in the year. In addition to active promotion, leading category players maintain their positions thanks to their wide availability and assortment expansion, including offering new flavours, such as Jocker kiwi and apple, and sugar-free options. Whilst the share of sugar-

In 2024, energy drinks in Tunisia has experienced a noticeable decline in demand across both on-trade and off-trade channels. The drop in on-trade demand is closely linked to the broader economic challenges affecting the nightlife sector. Energy drinks, often consumed as mixers with spirits, have seen reduced usage due to declining patronage in nightclubs and bars. This is largely driven by reduced disposable incomes and a decrease in alcohol consumption within social settings, particularly amon

Energy drinks continues to witness solid volume growth in 2024. For many young consumers, the key consumers, drinking energy drinks, especially premium brands, are a fashion statement and popular party drink. A growing number of working professionals are also increasingly choosing energy drinks to provide a quick and efficient energy boost to help them with their hectic schedules. With no lockdowns, on-trade consumption has fully recovered and sales surpassed their pre-pandemic levels in 2024.

Despite a reputation for being unhealthy, energy drinks in Israel continued to post solid growth in off-trade volume terms in 2024. Local consumers, leading increasingly hectic lifestyles, rely on these beverages for a quick energy boost throughout the day. However, the market faces significant challenges due to rising health consciousness and shifting preferences in alcoholic beverages.

Although its volume sales are relatively low, energy drinks outperformed other soft drinks in Kenya in 2024. While this is partly because consumption is growing from a lower base, it is also benefitting from people leading busy lifestyles, who need a quick pick-me-up. Also, while still niche, there is a growing preference for energy drinks with reduced sugar content or natural sweeteners, as well as those that include functional benefits like added vitamins or electrolytes.

Energy drinks in Dominican Republic registered healthy volume growth in 2024. A stable economy and lowering inflation supported volume sales, as energy drinks tend to be more expensive than other soft drinks such as carbonates. Energy drinks are also widely promoted and this also boosted volume sales. There is also significant promotion through social media channels, as consumers are generally under 30-years-of age and are keen users of social media.

Energy drinks in Canada continue to face headwinds as current value and volume growth slowed down significantly in 2024. The category, marred by its increasingly negative perception, continues to face strong competition from healthier alternatives, particularly powdered concentrates due to the rise of hydration drinks, as well as functional bottled water. The slowdown in unit prices is another factor contributing to its lower value growth. Moreover, product recalls of several energy drinks that

Following several years of double-digit growth, off-trade volume sales of energy drinks in South Africa are slowing, but growth still remains above the average for soft drinks overall. Two factors are contributing to the slower growth for energy drinks compared to the peak of the category’s previous performance. First, energy drinks has witnessed substantial year-on-year growth over much of the review period based on rising consumer interest. As a result, numerous brands and countless flavour va

Energy drinks in India is expected to maintain dynamic double-digit off-trade growth rates in both volume and current value terms in 2024; the category mainly has a presence off-trade. Energy drinks was historically perceived as a premium category in India, dominated by Red Bull. Red Bull entered India in 2009, and dominated the category for most of the following decade, until Sting disrupted the market. In 2017, PepsiCo entered with Sting, priced at INR50 per 250ml can, while Red Bull charged n

In 2024, sales of energy drinks continued to outperform the general soft drinks market in Lithuania, recording off-trade volume growth of 9%. However, much of this growth in off-trade volume can be attributed to aggressive promotional activities within the category. Discounts such as buy-one-get-one free offers or 50% off promotions are particularly common in energy drinks in Lithuania, driving increased consumer purchases. These promotional strategies have become a key driver of off-trade volum

Guatemala has one of the highest per capita consumption rates of energy drinks in the Central American region as they are a source of energy for workers who perform physical activities, such as construction workers, farmers, or workers on night or long shifts. They are also consumed by taxi drivers and more recently by people who work making deliveries. Traditionally, energy drinks have been positioned as a source of energy for younger consumers during sports or leisure activities. However, more

Despite continuing to achieve double-digit growth in total volume sales, energy drinks in Uruguay has experienced a deceleration in 2024 due to ongoing contraband from Argentina. This issue, which began in 2023, has persisted into 2024, although it has moderated somewhat due to the devaluation of the Argentine Peso, reducing the attractiveness of cross-border purchases. Nevertheless, Argentina's pricing remains more competitive than Uruguay's, and some consumers continue to acquire energy drinks

Thanks to the fast growth of up-and-coming brands with products exclusively in the reduced sugar segment, reduced sugar energy drinks is set to overtake regular energy drinks in terms of off-trade volume and value sales in the US in 2024. Its stronger growth trend has been prevalent for several years. However, it accelerated significantly after the rapid growth of brands such as C4, Alani Nu, and Ghost, all brands that followed in the footsteps of Celsius by focusing exclusively on reduced sugar

Energy drinks in Morocco has been marked by dynamic growth in 2024, characterised by increasing fragmentation due to the entry of new players and brands, particularly within the economy segment. Brands such as Upgrade, Blu, Rockstar, Sting, Monster, Black Energy, Royal Club, and Hype Energy Drinks have significantly broadened consumer options in the category. This influx of lower-priced products has intensified competition, leading established players to reduce prices slightly in an effort to ma

Though energy drinks is expected to register an increase in sales in Kazakhstan in 2024, volume growth is expected to slow significantly compared with the review period. While inflation has eased, prices are still rising and consumers are highly price sensitive. That being said, volume sales are still significant. Also, in 2024, a new regulation came into force that bans the sale of energy drinks to individuals under 21-years-of age. This regulation was introduced in response to the rising popul

Energy drinks have continued to enjoy stable consumer demand in North Macedonia in 2024, driven by their increasing relevance as a popular choice for socialising and partying among younger consumer groups. This has resulted in solid off-trade retail volume growth and robust off-trade rsp value growth, which has been further fuelled by significant price increases tied to the lingering effects of prolonged inflation. While demographic decline remains an issue in North Macedonia, its impact on ener

Energy drinks have continued to perform strongly across Costa Rica in 2024, but growth within the on-trade channel has outpaced the off-trade sector. The full recovery of the foodservice industry following the pandemic has boosted the popularity of energy drinks in social settings, particularly bars. These beverages have gained traction as a trendy option for providing an energy boost during nightlife activities, further expanding their relevance beyond traditional consumption contexts.

The volume sales of energy drinks in Georgia have been primarily driven by their functional benefits and appealing taste, catering to the needs of mid-aged and younger consumers. The demands of increasingly busy lifestyles, especially among working professionals and students, have further encouraged the consumption of energy drinks. Their convenience and ability to provide an instant energy boost have made them a popular choice for those seeking quick solutions to fatigue and mental alertness.