Westford, USA, Nov. 16, 2022 (GLOBE NEWSWIRE) -- As the world continues to become more and more competitive, people are looking for ways to improve their performance. One way to do this is by consuming sport drinks. These drinks are designed to help athletes perform at their best, and they are quickly becoming popular among consumers. There are a number of reasons why sport drinks market is witnessing a high demand. First, they provide energy and stamina during long workouts or races. Second, they can help reduce fatigue and increase endurance. Third, they can help improve cognitive function and mood. Additionally, sport drinks contain electrolytes (minerals) that can help replace those lost during exercise.
The growth of the sport drink market is evident by the increasing demand for products like Powerade, Gatorade, and water. Some popular sport drinks brands include Red Bull, Powerade, Gatorade, and Coca-Cola. These brands offer a variety of flavors and are available in a variety of formats, such as cans, bottles, and single-serve packets. Some sport drink companies also make dietary supplements aimed at improving athletic performance. The demand for sport drinks is attributed to factors such as increased physical activity and health awareness.
Asia Pacific is expected to be the fastest growing region in the global sport drink market over the forecast period, due to rising consumer spending on leisure activities such as sports and tourism. Europe would be the second-fastest growing region, followed by North America.
One study found that almost 60% of all Americans are physically active, up from just over 50% in 2003. This increase in physical activity has led to an increase in the demand for sport drink market. In addition, many people are now more aware of the benefits of drinking water instead of sugary beverages.
As sport drinks become increasingly popular, manufacturers are racing to keep up with the demand. This has resulted in a variety of different flavors and brands that cater to a wide range of consumers. In addition, many companies are developing new products that target specific markets such as pregnant women or athletes who have special dietary needs.
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Water-Based Drinks are Most Popular in Global Sport Drink Market
Sport drinks are a booming category, with growing demand from athletes and consumers alike. SkyQuest surveyed more than 1,500 sports and fitness professionals in the Americas, Europe, Asia-Pacific (APAC), and Latin America to get an understanding of how sport drinks are being used and consumed.
The survey on the global sport drink market found that 43% of respondents drink only water, juice, or tea when they're exercising; while 28% only drink conventional sports drinks. The trend is especially pronounced in youth populations: 48% of 12-17-year-old say they drink only water, juice, or tea when they're working out, while just 7% choose sports drinks. In contrast, 33% of 18–24-year-old drink only sports drinks, and 22% of 25–34-year old’s do the same. On the other hand, sport drinks are increasingly being used by athletes as part of their hydration strategy. In fact, more than 76% of respondents say that they use sport drinks as part of their hydration plan at least occasionally.
The most commonly consumed types of drinks in the global sport drink market are water-based sports beverages (74%) followed by fruit, vegetable, or mineral-based sports beverages (15% each). However, this distribution is changing—almost 1 in 5 respondents says that they purchase both water-based and fruit, vegetable, or mineral-based sports beverages depending on the event.
Of all respondents, males consume more sport drinks than females on a regular basis (83% vs 61%), with those aged 18 to 34 years consuming the most across all age groups surveyed. This may be attributed to the emergent trend of young adults using esports as an opportunity to work out regularly and improve their physical conditioning.
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Top 2 Players Generates over 90% Revenue of US Sport Drink Market
Gatorade (Pepsi Co), Powerade (Coca-Cola) and BodyArmor (Coca Cola) are the leading brands in the US market and generate more than 90% revenue of the market. These brands are popular among athletes and fitness enthusiasts because they provide sustained energy and hydration during physical activity. As per SkyQuest technology, Pepsi Co holds over 67% share of the market, which is followed by Coca-Cola with over 23% share. In 2021, Gatorage, a brand of Pespi Co garnered a revenue of over $2.1 billion through the US stores.
Gatorade, Powerade and BodyArmor have been able to maintain their stronghold in the US sport drink market due to their consistent innovation. For example, Gatorade launched its Ultra Zero line of products that are low in sugar and carbohydrates. This line is especially popular among health-conscious consumers who want to reduce their calorie intake.
PepsiCo is also the largest players in global sport drink market with a market share of more than 25%. The company has been focusing on growing its portfolio of sports drinks, energy drinks and water brands. PepsiCo's products are available in more than 200 countries and territories.
In fiscal year 2021, the company generated sales of $8.8 billion from its sports drinks, energy drinks and water brands. PepsiCo has been aggressive in expanding its product line-up to capture new consumers. The company has launched innovative beverages such as Tropicana Zero Sugar, Aquafina Iced Tea and Sierra Mist Diet Twist. In addition to entering into new markets, PepsiCo has also been aggressive in expanding into existing markets by launching new variants of its existing products. Apart from this, the company also acquires smaller players or invest in the company. For instance, in August 2022, PepsiCo bought stake worth $550 million in energy drink company called Celsius.
The growth of the sport drink market has been attributed to factors such as increasing participation in physical activities, changing lifestyles and growing awareness about health benefits associated with consuming these beverages. PepsiCo is well positioned to capitalize on this trend because it offers a diversity of beverage options that appeal to different consumers.
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Major Players in Global Sport Drink Market
- PepsiCo Inc (US)
- The Coca-Cola Company (US)
- BA Sports Nutrition (US)
- AJE group (Peru)
- Britvic PLC. (UK)
- MyDrink Beverages (US)
- Kraft Heinz Company (US)
- Nestle SA (Switzerland)
- GlaxoSmithKline plc. (UK)
- Abbott Nutrition co (US)
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