COMPETITIVE LANDSCAPE
Heavyweights battle for share in price-sensitive energy drinks
Osotspa Co Ltd was the leading company in energy drinks in off-trade volume terms in 2025. Energy drinks remained highly consolidated in Thailand, with Osotspa (M-150), Carabao (Carabao Dang), and TC Pharmaceutical Industry Co Ltd (Kratingdaeng and Ready) collectively dominating off-trade volume sales, accounting for a substantial 96%.
Carabao's aggressive strategy fuels the fastest growth in energy drinks
In 2025, Carabao demonstrated the most dynamic growth within energy drinks in Thailand, leading in both off-trade volume and value terms. This impressive surge was primarily driven by its steadfast commitment to a low-price anchor of THB10 per bottle, combined with an aggressive expansion of its distribution channels.
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Overview:
Understand the latest market trends and future growth opportunities for the Energy Drinks industry in Thailand 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 Thailand, 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 Thailand 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 Thailand?
- To what extent are health considerations impacting consumption of Energy Drinks in Thailand?
- 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 Thailand?
- Which are the leading brands in Energy Drinks in Thailand?
- What potential exists for multinational or domestic soft drinks companies to expand in Thailand?
- How are products distributed in Energy Drinks in Thailand?
- 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 Thailand - Category analysis
KEY DATA FINDINGS
Functional necessity fuels resilient growth despite the sugar tax
Resilient growth for energy drinks, driven by functional necessity
Regular formulations drive sales of energy drinks even as healthier options emerge
Anticipated stable growth to be driven by functional necessity and economic realities
Technology to drive efficiency and engagement in energy drinks
Sugar tax likely to be a catalyst for further change in energy drinks
Heavyweights battle for share in price-sensitive energy drinks
Carabao's aggressive strategy fuels the fastest growth in energy drinks
Impulse purchases fuel strength of convenience retailers for energy drinks
Navigating online growth and strategic on-trade opportunities
Soft Drinks in Thailand - Industry Overview
Value, wellness, and agile innovation drive growth in soft drinks
KEY DATA FINDINGS
Soft drinks are redefining value amidst economic headwinds
Wellness and agility drive innovation in soft drinks
Innovation anchored in cultural relevance and emotional resonance
Health, lifestyle, and price expected to shape soft drinks in Thailand
Sugar tax and shifting lifestyles to drive continued reformulation and premiumisation
Soft drinks will increasingly embrace a diverse distribution landscape
Coca-Cola maintains its lead in soft drinks with personalisation and hydration
Wellness helps CocoMax become a fast-growing force in soft drinks
Enduring importance of traditional channels for impulse purchases
The strategic rise of e-commerce and the imperative for omnichannel adaptation
Retail and foodservice channels drive brand-building
Fountain sales in Thailand
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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