Caffeinated Beverages is Fastest Growing Segment Fueling the Growth of Caffeine Market

The global Caffeine Market is estimated to be valued at US$ 18.12 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Caffeine is a central nervous system and metabolic stimulant. It is mostly consumed through coffee, tea, soda and energy drinks in various forms such as solid, liquid and powder. Rising demand for caffeinated beverages especially energy drinks among young population is fueling the growth of caffeine market.

Market key trends:
One of the key trends fueling the growth of caffeine market is rising demand for functional food and beverages enriched with caffeine. Caffeine is widely used as an active ingredient in functional beverages like pre-workout supplements, weight management products and ready-to-drink teas due to its fat burning and energy boosting properties. Manufacturers are focusing on developing innovative product formulations by combining caffeine with other ingredients like vitamins, herbs and plant extracts to attract health conscious consumers.

Segment Analysis
The global caffeine market is segmented by source into natural caffeine and synthetic caffeine. The synthetic caffeine segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. Synthetic caffeine is more cost-effective and easily available for mass production as compared to natural caffeine extracted from plants like coffee and tea leaves. The use of synthetic caffeine allows food and beverage manufacturers to standardize and control the caffeine content as per their product requirements.

Key Takeaways
The Global Caffeine Market Size is expected to witness high growth, exhibiting a CAGR of 6.7% over the forecast period 2023 to 2030, due to increasing demand for energy drinks and dietary supplements.

Regional analysis:
North America dominated the global caffeine market in 2022 and is expected to continue its dominance over the forecast period. The growing consumption of carbonated drinks, packaged fruit juices and sports and energy drinks in the region is driving the demand for caffeine.

Key players:
Key players operating in the caffeine market are BASF SE, Spectrum Chemical Manufacturing Corp., Kudos Chemie Limited, AVT Natural Products, Tianjin Zhong€TMan, Pharmaceutical Company Ltd., Shandong Xinhua Pharma, Aarti Industries Limited, Bakul Group, Taj Pharmaceuticals Limited., and Jilin Shulan Synthetic Pharmaceutical Co. Ltd.

Read more: https://www.ukwebwire.com/caffeine-market-share-analysis/