NEWARK, Del, Dec. 16, 2022 (GLOBE NEWSWIRE) -- According to Future Market Insights, the global sports drink market size is reach US$ 30,634.10 Mn in 2023 and further grow at 6.0% CAGR throughout the forecast period (2023-2033). Overall sales of sports drinks are projected to total US$ 43,631.75 Mn by the end of 2033.
Growing health consciousness among consumers coupled with increasing consumption of sports drinks is a key factor driving the global sports drink market forward and the trend is expected to continue during the forecast period.
Sports drinks, commonly referred to as electrolyte drinks, are functional beverages that help athletes replace water, electrolytes, and energy, especially during arduous exercise. They have become an essential part of any workout routine and are mostly consumed by people seeking health benefits from their beverages.
Most sports drinks contain carbohydrates (glucose), caffeine, B vitamins, and electrolytes (sodium, magnesium, potassium, and calcium). These drinks quickly replace fluids lost during exercise and provide maximum energy uptake.
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Rising popularity of fitness activities, growing concerns about physical well-being, and increasing number of athletes, especially across emerging nations are expected to boost the sports drink market during the forecast period.
Similarly, easy availability of ready-to-drink functional beverages through various sales channels and growing prominence of functional beverages like sports drinks, among sports enthusiasts and millennials as they help to enhance performance and endurance, and allow them to do vigorous exercises will elevate demand over the next ten years.
Sports drinks are increasingly becoming popular among consumers, especially millennials, as they are paying more attention to staying healthy. These drinks provide energy and stamina, reduce fatigue, increase endurance, and can help to rehydrate after exercise. Further, these sports drinks often have a pleasant taste which makes them appealing to many consumers.
However, a new study conducted by the University of Waterloo has found that sports drinks are not as beneficial for health as they are claimed to be. The study found that these electrolyte drinks do not improve physical performance or hydration in any significant way. This may hamper the market expansion to some extent.
Nevertheless, a positive growth trajectory has been predicted by FMI for the global sports drink market during the forecast period owing to the introduction and popularity of new innovative sports drinks globally.
Key Takeaways from the Sports Drink Market
- The overall sports drinks market is expected to be valued at US$ 30,634.10 Mn by 2023.
- The North America sports drink market is expected to register a 38% CAGR between 2023 and 2033.
- The U.S., China, Canada, Germany, and Mexico are the major countries driving the demand for sports drinks.
- The global market for sports drinks is estimated to surpass US$ 43,631.75 Mn by the end of 2033.
- Sales of sports drinks market grew at 4.0% CAGR during the historical period from 2017 to 2022.
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Competition Landscape: Sports Drink Market
Leading players in the global sports drink market include The Coca-Cola Company, PepsiCo Inc., Gatorade, Powerade, and V8, Powerade, and Body Armor among others. These companies are focusing on research & development activities to come up with innovative products in the market. besides this, they are strengthening their distribution channels and forming alliances and partnerships with other companies to solidify their position in the market.
Get Valuable Insights into the Sports Drink Market
FMI, in its new offering, provides an unbiased analysis of the sports drink market presenting historical demand data (2017-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for Sports Drink Market based on product type (isotonic, hypotonic, hypertonic), form (powered, liquid), packaging material (metal, pet/plastic, glass), distribution channel (offline, online retail), flavor (unflavored, flavored), & region forecast to 2023-2033.
About the Food & Beverage Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
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Sports Drink Market Outlook by Category
By Product Type:
- Isotonic
- Hypotonic
- Hypertonic
By Distribution Channel:
- Offline
- Store-Based Retailing
- Hypermarkets /Supermarket
- Convenience Stores
- Mom and Pop Stores
- Discount Stores
- Specialty Stores
- Independent Small Groceries
- Online Retail
By Flavor:
- Unflavored
- Flavored
- Citrus
- Berries
- Mocha
- Pomegranate
- Apple
- Mint
- Blends (Mix)
- Cola
- Watermelon
- Chocolate
- Others
By Form:
- Powdered
- Liquid
By Packaging Material:
- Metal
- Pet/Plastic
- Glass
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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