Global sports drink market

Sports Drink Market Size, Share, Growth Analysis, By Distribution Channel(Online, Offline), By Type(Isotonic, Hypotonic), By Packaging Type(Bottles (Pet/Glass), Cans) - Industry Forecast 2024-2031

Report ID: SQMIG30C2140 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 89 | Figures: 76

Sports Drink Market Insights

Sports Drink Market size was valued at USD 25.75 billion in 2019 and is poised to grow from USD 26.82 billion in 2023 to USD 36.89 billion by 2031, growing at a CAGR of 4.08% in the forecast period (2024-2031).

The effects of COVID-19 have been startling and unprecedented, with sports drinks experiencing a surge in demand across all geographies as a result of the pandemic. According to our data, the Sports Drink market grew spectacularly in 2019, by 7.7 %, compared to the average annual increase between 2017 and 2019.

The item is a component of functional beverages produced primarily to aid athletes in staying hydrated before and after exercise. It is a good source of carbs, minerals, and electrolytes and boosts athletic performance. Water, sodium, tastes, potassium, sugar, and synthetic colors are also present in these drinks. The sector has experienced phenomenal growth over the past several years as a result of the marketing strategy change from providing electrolyte drinks to athletes to other consumers.

The growing popularity of fitness activities and the rising trend of half- and full-marathon participation have contributed to the growth of the industry.

Additionally, as they aid in enhancing mood, the demand for the drink is rising quickly for performance, and stamina, and enable athletes to engage in strenuous exercise. Furthermore, the growing numbers of athletes and athletes in emerging nations are among the major variables that would fuel Sports Drink market expansion during the anticipated period. For example, The National Collegiate Athletic Association (NCAA) has released data showing the number of increases in NCAA athletes are noticeable. There is a significant demographic change as a result of the movement from rural to urban areas affecting dietary habits.

US Sports Drink Market is poised to grow at a sustainable CAGR for the next forecast year.

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Sports Drink Market size was valued at USD 25.75 billion in 2019 and is poised to grow from USD 26.82 billion in 2023 to USD 36.89 billion by 2031, growing at a CAGR of 4.08% in the forecast period (2024-2031).

PepsiCo Inc. and the Coca-Cola Company are only two of the major players that possess a considerable market share in the sports drink industry. Expansions, innovations, and the introduction of new products are the main strategies used by sports drink market participants to stay competitive. To differentiate their products from those already on the market, businesses have begun releasing new, creative items that incorporate natural components and additives. 'PepsiCo Inc', 'The Coca-Cola Company', 'Gatorade (a brand of PepsiCo Inc.)', 'Red Bull GmbH', 'Monster Beverage Corporation', 'Nestlé S.A.', 'Abbott Laboratories', 'Powerade (a brand of The Coca-Cola Company)', 'Lucozade Ribena Suntory Ltd', 'BA Sports Nutrition, LLC', 'BodyArmor', 'Xyience', 'FRS Healthy Energy', 'ABBOTT NUTRITION', 'Britvic plc', 'Aspire Food Group', 'The BUD Co. Ltd.', 'Rockstar, Inc.', 'The GURU Organic Energy Corp', 'The Swire Group'

One of the main factors boosting the demand for sports drinks is the rising propensity of the millennial generation for physical and fitness-related activities, rising purchasing power, and willingness to spend more for healthier alternatives. Additionally, this healthful beverage has a number of advantages, including lowering the risk of dehydration, replacing lost electrolytes through perspiration, and preserving the body's electrolyte balance. Therefore, raising consumer awareness of the product's health advantages is anticipated to spur the sports drink market to increase.

Natural ingredients are increasingly being used by manufacturers since they are healthier than traditional sports drinks, which presents a sports drink market expansion opportunity. For instance, a Chicago-based start-up called Good Sports introduced its natural sports drink comprised ofcomprising 97 %  dairy in February 2021. Three times of electrolytesmore electrolytes compared to conventional ones, these have 33 % less sugar and more electrolytes. Additionally, the growing numbers of people in developing and underdeveloped nations who are concerned about their health will increase sports drink market trends.

In terms of regional sales, North America comes in first, followed by Europe. However, the expanding fitness craze is also spreading to other areas and boosting sports drink market sales. The sports drink market in the Asia-Pacific region is predicted to rise rapidly as a result of rising rates of urbanization and an increase in the number of fitness facilities in nations like China and India. Due to the lack of calories or low-calorie content of the sweeteners used in the customization of the sports drink by the makers in the region, the sports drink market in the Asia-Pacific is also anticipated to develop at a rapid rate.

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Global sports drink market

Product ID: SQMIG30C2140