RedBoost Pros

Market Size Redboost

Among many industries, the food and beverage industry is one of the fastest growing sectors in the economy that has the potential to grow even further. With the changing lifestyle and income levels, people are shifting their consumption patterns and have therefore become more health conscious, creating an increased demand for energy. Sri Lanka’s total soft drink market is worth around 80million dollars and energy market is 12million dollars. Energy beverage (Ready-To-Drink) industry is an important beverage market in Sri Lanka which is worth of US $12million and has an annual growth rate of 12%. When surveying, We found that Energy may deliver a lot of advantages upon consumption. According to the “The Way Forward” document, the government has planned to popularize energys instead of carbonated soft drinks. In the recent years there have not been many studies about the beverage consumption and consumer behaviour and therefore, the consumer preference for carbonated drinks and energy drinks in Sri Lanka is not well documented. The main objective of Redboost is to identify the existing consumer preference of carbonated drinks and energy drinks in the Sri Lankan beverage market and bring awareness. The other objectives are, to find out the factors that influence the consumption of carbonated drinks and energydrinks and to study the consumer preference for the various existing brands of energy drinks. We conducted this in four locations:Gampaha, Anuradhapura, Hambantota, and Kandy.