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.
The caffeine market comprises products such as caffeine anhydrous, caffeine citrate, and food grade caffeine. Caffeine acts as a stimulant in various foods and beverages to enhance their taste and flavor. It increases alertness, reduces fatigue, and improves physical performance.
Market key trends:
One of the key trends in the caffeine market is the increasing demand for soft drinks with natural caffeine. Soft drinks with natural caffeine are gaining popularity as they offer the benefits of caffeine in a natural format without any artificial stimulants. The refreshing taste of soft drinks combined with the energy-boosting effects of natural caffeine make them appealing snacks and beverages. Many millennial prefer soft drinks with natural caffeine as they look for healthier and natural beverage options.
Segment Analysis
The global caffeine market is segmented on the basis of product type, application, and region. Based on product type, the market is segmented into caffeine anhydrous, caffeine citrate, and others. The caffeine anhydrous segment dominates the global market owing to its high content of caffeine. Caffeine anhydrous contains around 99% caffeine by weight and is widely used in energy drinks, carbonated soft drinks, dietary supplements and other beverages.
Key Takeaways
The Global Caffeine Market Size is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing consumption of caffeinated beverages and dietary supplements.
Regional analysis: North America dominates the global caffeine market and is expected to continue its dominance over the forecast period. This is attributed to the increasing demand for energy drinks and changing lifestyles in countries like US and Canada. Asia Pacific exhibits the fastest growth attributed to changing lifestyles and growing consumption of caffeinated beverages in countries like India and China.
Key players: Key players operating in the caffeine market are BASF SE, Spectrum Chemical Manufacturing Corp., Kudos Chemie Limited, AVT Natural Products, Tianjin Zhongan, Pharmaceutical Company Ltd., Shandong Xinhua Pharma, Aarti Industries Limited, Bakul Group, Taj Pharmaceuticals Limited., and Jilin Shulan Synthetic Pharmaceutical Co. Ltd. BASF SE is one of the prominent players in the market and offers a wide range of caffeine under the brand name Celsius.
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The report highlights the significant players, including market size, share, and demand, development.
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The major players in the synthetic caffeine market include BASF SE, Cambridge Commodities Limited, CSPC Pharmaceutical Group Limited, Aarti Industries Limited, Spectrum Chemical Manufacturing Corp., LobaChemie Pvt.
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Growing awareness about the health benefits of caffeine to further propel its consumption in the coming years.
