background & purpose
In 2022, the Asia Pacific Energy Drink Market was valued at USD 14.96 billion and is estimated to exceed USD 31.07 billion by 2031, growing at an 8.46% CAGR during the forecast period (2023-2031). This growth is attributed to the shift in consumer priorities towards health and wellness after COVID-19. As consumers increasingly recognize energy drinks not only for their traditional energy-boosting function but also for a broad spectrum of functional and health-enhancing benefits, this trend is poised to have a significant impact on consumer energy drink preferences.
This market research project involved conducting fieldwork and store visits across various countries in the Asian region: India, Indonesia, Korea, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. To understand consumer’s preferences and reasons for choosing their supplement and energy drink products in different countries, GLOBAL ANGLE lists up competitors’ products in each country’s major stores and analyses them.
project scope & action
Conduct interviews to consumers to understand their usage and purchase habits, brand recognition, health and beauty concerns, and currently used solutions
Visit 2 stores to take pictures of store shelves
Record and list up information of products, including price, quantity, major benefit and dosage per day
Analyse data collected, including store front product arrangement, percentage of products based on major benefits, identifying of main competitor products
DELIVERABLES
- Synthesis of respondents’ answers of supplement and energy drink products
- Analysis of prices based on major benefit
- Analysis of store display
- Examples of competitor products
