Sports Drink Market Size, Share 2031
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Industry: Food & Beverage
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This study intends to unfurl the multiple facets of global sports drink market. The insights offered in the report aid in market growth examination during the forecast period.
Sports Drink Market Gains from Surging Consumption by Athletes
Sports drinks are liquids athletes can consume before, during, or after a competition or training session to replenish electrolytes, energy, and hydration. Due to their rising demand, athletes and those who engage in strenuous physical activity are the main drivers for global Market for Sports Drink . Among the other variables influencing the are the expanding athlete community and the rising number of athletes in developing nations. In addition, rising consumer interest in physical fitness and increased availability of exercise facilities and health clubs are anticipated to fuel market expansion. Manufacturers are concentrating on diversifying their product lines by developing new flavors with extra health benefits. Because sports drinks are so popular among teenagers and adults, they focus on various age groups.
Additionally, companies are investing money into cutting-edge marketing and advertising techniques to diversify their product offerings. Custom flavors and limited-edition items are also being introduced. Changing food tastes, extended workweeks for consumers, and changing lifestyles are other factors supporting the growth of the sports drinks market. Other key factors driving the Market for Sports Drink expansion during the projection period are the rising athlete population and the number of sports participants in emerging nations. For instance, the number of NCAA athletes is increasing quickly, according to National Collegiate Athletic Association (NCAA) data. Over 3,000 additional students competed in NCAA championship sports in 2017–18, bringing the total number of participants to 494,992. Population patterns are changing significantly due to migration from rural to urban areas.
Sports Drink Market: COVID-19 Impact
The COVID-19 outbreak has led to increased product consumption, largely due to the growing number of people exercising at home. For instance, according to data published by Food Business News in November 2020, non-aseptic energy drink retail sales in the United States increased by 15% to US$3.51 Bn for the 52 weeks that concluded on July 12, 2020. The sales of well-known companies like Red Bull North America, Inc., based in Corona, California, increased by 11% to US$1.39 Bn in 2020, while Monster Beverage Corp., which is based in the same city, rose by 4.9% to US$1.23 Bn. The progressive lifting of curfews and lockdowns would also increase outdoor activity participation, which would further contribute to a rise in the sports drink market.
Growing Preference for Physical Fitness to Drive Market for Sports Drink Growth
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. For instance, according to information released in October 2019 by the International Health, Racquet & Sportsclub Association, 76 percent of millennials are estimated to exercise at least once a week. This functional beverage has several advantages, including lowering the risk of dehydration, replacing lost electrolytes through sweat, and preserving the body's electrolyte balance. As a result, raising consumer awareness of the product's health advantages is anticipated to boost the Market for Sports Drink.
Manufacturers Emphasize Introduction of New, Healthy Flavors to Support Sports Drink Market Growth
Numerous producers are putting more of an emphasis on innovation and releasing organic drinks in various tastes to satisfy consumer desire for nutrition. This invention will assist numerous businesses in increasing their revenue, ultimately spurring the Market for Sports Drink expansion. For instance, a well-known Powerade company developed advancements in January 2020 to energize and replenish athletes. Two new zero-sugar innovations from Powerade that provide practical hydration options and packaging designs have been added to the company's line of products. It introduced POWERADE ULTRA, which contains +50% more ION4 electrolytes than the original POWERADE and contains branched-chain amino acids (BCAAs), creatine, and vitamins B12, B6, and B3.
Government Health Regulations to Limit Sports Drink Market Opportunities
Throughout the forecast period, the growth of the Market for Sports Drink is anticipated to be constrained by stringent health regulations set by the government on sports and energy drinks, as well as growing awareness about the harmful effects of these drinks on youngsters. Additionally, the expansion of the sports drink business in the ensuing years may be hampered by dishonest marketing by a select few vendors and unfavorable media criticism. Furthermore, most items on the market have high sugar content, which can harm health. As a result, this is preventing the market from expanding. For instance, Gatorade sports drinks typically contain 34 grams of sugar per 20-ounce bottle pack.
Metal Category Dominates Sports Drink Market with Greater Compatibility for Long Distance Transportation
The metal category held the largest market share. It is anticipated that it will continue to rule the market during the forecast period because it can withstand long-distance transportation with little product damage. The Market for Sports Drink is expanding due to rising consumer demand for environmentally friendly products and metal packaging's capacity to maximize storage and shipping space. It may also withstand corrosion and serve as a barrier against gases, light, temperature, and odor. Metal packaging preserves the quality of the contents within better and is eternally recyclable with little loss of quality because of its construction and resistance to deterioration during shipment. Tin is typically used in this type of packaging to encourage recycling. They are appropriate for a wide range of goods, such as drinks, soups, and even canned fish.
Offline Channels Category Leads Sports Drink Market Owing to Rise in Number of Sports
The offline channels category held the largest market share. It is anticipated that it will continue to rule the market during the forecast period due to a rise in the number of athletes, bodybuilders, and weightlifters in sports. In addition, the sports drink market is expected to rise in the next years due to the increasing popularity of energy drinks among teenagers and seniors. The quality of energy drinks is being improved by various producers utilizing new technical methods, which has a favorable impact on the sports fitness industry during the projected period. Additionally, people are becoming more health concerned, fueling the growth of the sports nutrition sector. Growth in health clubs and fitness centers, as well as the introduction of online training programs, will fuel demand for sports nutrition over the analysis period. Sports enthusiasts, fitness freaks, students, and people in high-demand professions dominate the market.
North America’s Primacy in Market for Sports Drink Will Prevail in Long Term
Over the forecast period, it is anticipated that the North American market will account for the largest revenue share. The demand for the drink is likely to be fueled by a big portion of the population engaging in outdoor activities. Take the outdoor industry, for instance. The population of the US was estimated to have gone on 1 billion fewer outdoor excursions in 2018, according to org statistics. Similar to the last example, the tremendously high level of sports involvement has encouraged the use of athletic drinks to enhance performance. A significant growth driver for the market is the rising awareness of the need to maintain physical health and live a healthy lifestyle. The main factor driving the Market for Sports Drink in the United States and, by extension, the North American market is the growing participation of people in various sports and other fitness activities.
Asia Pacific Market for Sports Drink is anticipated to experience stable revenue growth throughout the forecast period due to an increase in urbanization rates and the number of fitness centers in nations like China, and India. Due to low-calorie content of the sweeteners used in the customization of sports drinks by the makers in the region, the market in the Asia-Pacific is also anticipated to develop rapidly. According to the Special Olympics, India saw the biggest growth in 2018, with about 80,000 additional young athletes. However, the demand for naturally flavored sports drinks is fueled by an increase in middle-class customers with changing lifestyles, particularly in developing nations like China, and India.
Global Sports Drink Market: Competitive Landscape
Few of the players in the Market for Sports Drink 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 B everages (Minnesota, USA), Kraft Heinz Company (Illinois, United States), Nestle SA (Vevey, Switzerland), GlaxoSmithKline plc. (Brentford, United Kingdom), and Abbott Nutrition co (Illinois, United States).
Recent Notable Developments
Regional Classification of Global Sports Drink Market Can be Given as Below:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.
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