Core Viewpoint - The domestic energy drink demand in China is expected to maintain high growth over the next five years, with significant room for industry scale expansion [1] Group 1: Industry Growth - The energy drink industry in China is projected to experience a compound annual growth rate (CAGR) of 10.9% from 2020 to 2024, with sales volume reaching nearly 4 billion liters by 2024 [1] - The average per capita consumption of energy drinks in China is expected to be 2.8 liters per year by 2024, which is significantly lower compared to the United States (11.2 liters), Japan (4.1 liters), and Thailand (4.5 liters), indicating substantial growth potential [1] Group 2: Macro Factors Supporting Demand - Economic structure, population structure, and welfare are expected to support future demand growth for energy drinks, with a focus on increasing wage income, which is projected to grow at a CAGR of 6.8% from 2020 to 2024 [1] Group 3: Micro Factors Driving Demand - The expansion of the consumer base is driven by a combination of corporate marketing, work pressure, and product innovation, with leading companies actively educating consumers and enhancing brand presence [2] - The demand is also influenced by the increasing work hours in sectors such as information technology and research, as well as heightened pressure on students [2] - The trend of younger and more white-collar consumers is evident, with local brands gaining market share in a high-work-hour environment similar to South Korea [2] Group 4: Future Opportunities - There are emerging opportunities for low-sugar, flavor, and efficacy segmentation in the energy drink market as it matures and reaches certain market share thresholds [2]