COMPETITIVE LANDSCAPE
Knjaz Milos maintains its lead with its popular Guaraná brand
Knjaz Milos ad maintained its lead in energy drinks in 2025, thanks to being the local partner of global PepsiCo Inc alongside the player’s own strength as a soft drinks manufacturer in Serbia. The player offers the leading Guaraná brand, which stands out thanks to effective marketing and a wide distribution network.
The Hell brand benefits from affordable pricing and strong trendy appeal among younger consumers
Hell Energy Magyarország Kft saw the strongest company growth in 2025. The company’s Hell brand is positioned as a premium quality energy drink at an affordable price.
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Overview:
Understand the latest market trends and future growth opportunities for the Energy Drinks industry in Serbia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Energy Drinks industry in Serbia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Energy Drinks in Serbia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Energy Drinks in Serbia?
- To what extent are health considerations impacting consumption of Energy Drinks in Serbia?
- How are changing social attitudes and legislation (eg sugar tax) reshaping demand and consumption?
- How are changing demographics (for example, an ageing or predominantly young population) determining consumption of Energy Drinks in Serbia?
- Which are the leading brands in Energy Drinks in Serbia?
- What potential exists for multinational or domestic soft drinks companies to expand in Serbia?
- How are products distributed in Energy Drinks in Serbia?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How have home seclusion and social distancing measures following COVID-19 impacted sales of Energy Drinks?
- How are sustainability issues, such as environmentally-friendly packaging, legislation on recyclability, or the amount of plastic in bottles, impacting the soft drinks industry?
- Where is future growth expected to be most dynamic?
Energy Drinks in Serbia - Category analysis
KEY DATA FINDINGS
Energy drinks maintain healthy volume growth, despite high prices
Energy drinks continue to satisfy growing consumer demand for energy and performance enhancing drinks
Reduced sugar energy drinks attract health-conscious consumers
Busy consumers will continue to demand energy drinks, supporting an ongoing positive performance
Price sensitivity will continue to influence sales, leading to a higher incidence of price-based promotions
Ongoing health and wellness trends will continue to support interest in reduced sugar energy drinks
Knjaz Milos maintains its lead with its popular Guaraná brand
The Hell brand benefits from affordable pricing and strong trendy appeal among younger consumers
Small local grocers maintains leading distribution channel place, despite rise of modern retail stores
Retail e-commerce sees the strongest growth, albeit from an emergent base
Soft Drinks in Serbia - Industry Overview
Sales remain impacted by economic instability, with volume sales remaining low
KEY DATA FINDINGS
Health and wellness trends influence demand for reduced sugar options
Busy lifestyles support demand for smaller format sizes to suit on-the-go consumption
Sustainability trends influence the growing use of recycled packaging materials
Volume sales expected to maintain low positive growth, driven by the most in-demand soft drinks
Price sensitivity will continue, with consumers seeking deals, discounts, and private label
Developments expected to focus on lower sugar and functional soft drinks, with flavour remaining important
Coca-Cola maintains overall lead thanks to diverse brand portfolio, ongoing innovations, and strong distribution
Private label grows in demand, while lifestyle brand Oshee benefits from the popularity of sports drinks
Convenience stores benefit from consumers’ demand for fast, efficient, small and frequent shopping
Retail e-commerce and discounters grow in demand, catering to convenience and affordability
Foodservice vs retail split
COUNTRY REPORTS DISCLAIMER
The following categories and subcategories are included:
Energy Drinks
- Regular Energy Drinks
- Reduced Sugar Energy Drinks
Energy Drinks
These are the aggregated total of regular and reduced sugar functional drinks designed to boost energy levels. Often lightly carbonated, these contain high levels of caffeine and a number of added water-soluble vitamins, most often a selection of B vitamins including niacin, pantothenic acid, vitamin B6, and vitamin B12. Ingredients can also include amino acids such as taurine and glucuronolactone, as well as herbal products such as guarana and ginseng. Can be carbonated or still. Leading brands in off-trade volume include Red Bull, Monster and RockStar. Glucose-based energy beverages such as Lucozade Energy are included here.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Energy Drinks research and analysis database.
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