Pune, India, May 17, 2023 (GLOBE NEWSWIRE) -- The global sports drink market size is predicted to reach USD 36.35 billion in 2028 from USD 27.22 billion in 2021, exhibiting a CAGR of 4.2% during the forecast period. The growing number of health-conscious consumers around the world will consequently aid the market growth in the forthcoming years.
Furthermore, the rising number of athletes and sports persons will also encourage the growth of the market. According to the National Collegiate Athletic Association (NCAA), the number of NCAA athletes stretched high. In 2017-18, around 494,992 students participated in NCAA championship sports, which was an increase of more than 3,000 since 2016-17. This information is given by Fortune Business Insights™, in a new report, titled, “Sports Drink Market, 2021-2028.” The market value stood at USD 26.24 billion in 2020. As per the report, the surging focus of males and females on sports activities will have a positive impact on growth. For instance, the number of men’s teams nationwide increased by 62 in the past years, while women’s teams increased by 64. Women’s teams have outnumbered men’s teams since 1996-97.
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List of Key Players Profiled in the Sports Drink Market Report:
- PepsiCo, Inc (New York, United States)
- The Coca-Cola Company (Georgia, United States)
- BA Sports Nutrition (Whitestone, New York)
- AJE group (Lima, Peru)
- Britvic PLC. (Hertfordshire, United Kingdom)
- MyDrink Beverages (Minnesota, USA)
- Kraft Heinz Company (Illinois, United States)
- Nestle SA (Vevey, Switzerland)
- GlaxoSmithKline plc. (Brentford, United Kingdom)
- Abbott Nutrition co (Illinois, United States)
Segments-
Hypotonic Segment Generated 11.86% Share in 2020: Fortune Business Insights™
Based on the type, the market is divided into hypertonic, hypotonic, and isotonic. The hypotonic segment earned 11.86% in terms of share in 2020. But, the isotonic segment is expected to remain at the forefront in the upcoming years as these drinks contain the same amount of salt and sugar as of the human body.
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COVID-19 Pandemic: Rising Home Workouts to Result in High Growth
The COVID-19 pandemic has resulted in the rising workout practices from home and has further augmented the demand for sports drinks. As per a study published by the Food Business News, the retail sales of non-aseptic energy drinks U.S. surged by 15% in the U.S. in November 2020. But, the gradual lift of lockdowns and curfews in various countries worldwide is anticipated to increase the number of outdoor activities in the near future. It would also contribute to growth.
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2021-2028 |
| Forecast CAGR | 4.2% |
| 2028 Value Projection | USD 36.35 Billion |
| Market Size in 2021 | USD 27.22 Billion |
| Historical Data | 2017-2019 |
| No. of Pages | 140 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Sports Drink Market Growth Drivers | Rising Focus of Manufacturers to Introduce Innovative and Healthy Flavours to Facilitate Growth |
| Increasing Inclination towards Physical Fitness to Propel Market Growth |
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Report Coverage-
The sports drink market research report executes a PESTEL study and SWOT analysis to reveal the stability, restrictions, openings, and threats in the market. Combined with the market analysis capabilities and knowledge integration with the relevant findings, the report has foretold the robust future growth of the market, and all articulated with geographical and merchandise segments. It also shows different procedures and strategies, benefactors and dealers working in the market, exploring components convincing market development, generation patterns, and following systems. Additionally, the figures and topics covered in this report are both all-inclusive and reliable for the readers.
Drivers and Restraints
Drivers:
- Growing Health and Fitness Trends: With the growing trend towards healthier lifestyles, consumers are looking for products that help them maintain their active lifestyles. Sports drinks are seen as a convenient and effective way to replenish electrolytes and stay hydrated during and after workouts.
- Celebrity and Athlete Endorsements: Many sports drink brands have leveraged the popularity of athletes and celebrities to promote their products. These endorsements help to increase brand awareness and credibility among consumers.
- Convenience: Sports drinks are typically sold in easy-to-carry bottles, making them a popular choice for active people who need quick and easy hydration options.
- Flavour Variety: The availability of different flavours has contributed to the popularity of sports drinks, particularly among younger consumers who are looking for refreshing and tasty drinks.
- Increased Distribution: Sports drinks are widely available in supermarkets, convenience stores, and online retailers, making them easily accessible to consumers.
Restraints:
- Health Concerns: Some consumers are hesitant to consume sports drinks due to their high sugar and calorie content. This has led to a growing demand for low-calorie and sugar-free options.
- Competition from Alternative Beverages: There are many other beverages on the market that offer similar benefits to sports drinks, including coconut water, enhanced waters, and energy drinks.
- Price Sensitivity: Sports drinks are often priced higher than other beverages, which can be a deterrent for price-sensitive consumers.
- Sustainability Concerns: Many sports drink containers are not recyclable, leading to concerns about their environmental impact. This has led to a growing demand for sustainable packaging options.
- Regulatory Challenges: Some countries have strict regulations on the marketing and labeling of sports drinks, which can make it difficult for manufacturers to promote their products effectively.
Regional Insights-
Presence of Major Companies to Help North America Gain Momentum
The market in North America stood at USD 8.80 billion in 2020 due to the increasing health-conscious population in the region. For instance, in 2018, approximately 55% of the American population lived a healthier lifestyle. Furthermore, the rising demand for these drinks in the U.S. due to the presence of major players such as Gatorade, PowerAde, and BodyArmor will further influence the sports drink market trends in North America.
Asia Pacific is expected to witness a high demand for these drinks in the forthcoming years owing to the rising disposable incomes of people living in developing countries such as India, China, and Japan. In addition, the increasing number of health-conscious consumers will compel manufacturers to unveil new healthy drinks, which, in turn, would boost the market share by brand.
A Notable Industry Development-
Launch of Gatorade by BOLT24 to Augment Growth Process
Gatorade, an American manufacturer of sports-themed beverages and food products, launched BOLT24 in July 2019. The company's new sports drink is a low-calorie electrolyte beverage, as it doesn’t contain artificial flavors or sweeteners. It is meant for athletes to keep them hydrated around the clock. This new launch is expected to fuel the demand among athletes owing to the natural and organic content of the drink, which, in turn, will facilitate the sports drink market share.
Gatorade's senior vice president, Brett O'Brien, mentioned, “BOLT24 is based on sea salt and watermelon. This feature distinguishes it from other Gatorade products.” He further added that the new drink would allow the company "to think about athletes in a whole different way." In addition, the rising R&D investments by key players for the development of innovative sports drinks aimed at athletes would accelerate healthy growth of the market.
Competitive Landscape-
Key Players Focus on Partnership Strategy to Gain a Competitive Edge
The global market consists of numerous renowned companies that are currently focusing on competing with their rivals. To do so, they are partnering up with leading sports associations.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain and Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Impact of COVID-19 on the Sports Drink Market
- Global Sports Drink Market Analysis, Insights, and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Isotonic
- Hypotonic
- Hypertonic
- By Brands (Value)
- Gatorade
- Powerade
- Others
- By Packaging Type (Value)
- Metal
- PET/Plastic
- Glass
- By Distribution Channel (Value)
- Offline Channel
- Online Channel
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type (Value)
TOC Continued...!
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