According to a Boston Analytics Beverages Report for India, the Rs 500 crores Indian energy and sports drink market is expected to double within the next two years.
The report said that this market in India is still in its infancy with only 26 per cent of those who have ever consumed a store bought non-alcoholic beverage having tried a sports or energy drink and only 9 per cent drink energy or sports drinks regularly at the same time of day.
As per the study of 8,300 Indians across 15 cities, Mumbai, Delhi and Hyderabad are the largest centers of consumption for this segment, while Delhi has one of the lowest consumption rates.
The report further pointed out that about 120 billion litres of beverages are consumed by Indians every year, but only 5 per cent represent store-bought packaged beverages.
Around 75 per cent of Indian consumers still consume non-alcoholic store-bought beverages less than once a day. This indicated that a there exists a large untapped market opportunity, particularly in the carbonated drinks and juice or juice-based markets, which are estimated at about $1.5 billion and $.25 billion respectively.
The report explained that while consumption frequency decreases with age, it was found to be increasing with income levels, except in the top-most economic strata of society.
