The global sports drink market size is predicted to reach USD 32.61 billion by 2026, exhibiting a CAGR of 4.2% during the forecast period. The growing number of health-conscious consumers around the world will consequently aid the sports drinks market growth in the forthcoming years. This information is given by Fortune Business Insights, in a report, titled, “Sports Drink Market Size, Share & Industry Analysis, By Type (Isotonic, Hypotonic, and Hypertonic), Brand (Gatorade, Powerade, and Others), Packaging Type (Metal, PET/Plastic, and Glass), Distribution Channel (Supermarket/Hypermarket and Online Channel), and Regional Forecasts, 2019 – 2026.” As per the report, the sports drink market stood at USD 23.54 billion in 2018.
Furthermore,
the growing number of athletes and sports persons will also encourage the
growth of the market in the forthcoming years. According to the National
Collegiate Athletic Association (NCAA), the number of NCAA athletes stretched
high. In 2017-18 approximately 494,992 students participated in NCAA
championship sports, which was an increase of more than 3,000 since 2016-17.
Furthermore, the growing focus of males and females towards sports activities
will have a positive impact on the sports drink market revenue. For instance,
the number of men’s teams nationwide increased by 62 from the past years, while
women’s teams increased by 64. Women’s teams have outnumbered men’s teams since
1996-97.
Some of the Major Companies
Operating in the Global Sports Drink Market Include:
- PepsiCo
- The Coca-Cola Company
- BA Sports Nutrition
- AJE group
- Britvic PLC.
- MyDrink Beverages
- Kraft Heinz Company
- Nestle SA
- GlaxoSmithKline plc.
- Abbott Nutrition co.
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Inclination towards Healthy Lifestyle to
Encourage Market Expansion
The
increasing inclination of the millennial population towards physical and
fitness-related activities will aid the expansion of the market in the
foreseeable future. The surge in the buying power of people and the willingness
to pay for healthier alternatives will fuel demand for sports beverages.
Furthermore, increasing awareness regarding the benefits of sports beverages
such as minimizes the risk of dehydration, replaces sweat, and maintains the
balance of electrolytes in the body. The
focus of manufacturers to launch organic drinks with different flavors will further
enhance the sports drink market growth.
For
instance, Powerade expanded its product portfolio with two new zero-sugar
innovations that offer functional hydration solutions and packaging designs. A
POWERADE ULTRA product includes branched-chain amino acids (BCAAs), creatine,
vitamins B3, B6 and B12, and +50% more ION4 electrolytes compared to original
POWERADE. These factors together are expected to spur new business
opportunities for the market in the forthcoming years, sates our lead analysts
at Fortune Business Insights.
Read a Detailed Summary of This Report:
https://www.fortunebusinessinsights.com/sports-drink-market-102083
REGIONAL INSIGHTS-
Rising Demand for Sports Drinks to Boost
Market Prospects in North America
The market
in North America stood at USD 7.90
billion in 2018 and is expected to remain dominant during the forecast
period due to the increasingly 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 sports drinks in the U.S due to
the presence of major players such as Gatorade, PowerAde, and BodyArmor will
further influence the sports drinks market trends in North America. Asia
Pacific is expected to witness a high demand for sports drinks in the
forthcoming owing to the rising disposable income in developing countries such
as India, China, and, Japan. In addition, an increasing number of
health-conscious consumers will impel companies to introduce new sports drinks,
which in turn will boost the sports drink market share by brand.
COMPETITIVE LANDSCAPE-
Adoption of Various Marketing Strategies to
Benefit Key players and Market Consequently
The rising
concentration of key players towards the launch of Healthy and energy-boosting
sports drinks to support the sports drink market growth in the forthcoming
years. Moreover, to cater to the requirements of the consumers, companies are
launching various advanced products. Additionally, key players are also
adopting various marketing strategies such as partnership, merger, expansion,
collaboration, agreement, acquisition, and product launch. Nonetheless, the
growing competition among leading players will spur new opportunities for the
market in the forthcoming years.
Notable Industry Developments-
- April 2021:
Kyle Kuzma and Bar Malik introduced ‘Barcode,’ a vegan and plant-based sports
drink for athletes to help them enhance their performance without medications
or recover from an injury.
- April 2021: The Jel Sert Company and the Coca-Cola Company launched POWERADE Sports Freezer Bars to provide innovative sports drinks to consumers.
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