Sports Drink Market – Escalating Demand For Functional Beverages in Developed Countries

The Sports Drink Market accounted for US$ 24.6 billion in 2019 and is estimated to be US$ 37.5 billion by 2029 and is anticipated to register a CAGR of 4.30%.

The report "Global Sports Drink Market, By Product Type (Hypotonic, Isotonic, Hypertonic), By Application (Drug Stores, Supermarket/Hypermarket, E-Commerce, Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029"

Key Highlights:

• In October 2017, PepsiCo attempted to diversify its beverage portfolio with the addition of less sugary drinks into their latest product line.
• In March 2016, Abott Nutrition Co. added a newly tailored energy drink called Ensure Enlive aimed at consumers 50 or older.

Analyst View:

Rising population of athletes, sportspersons, or increasing number of players in developing countries are also some other factors driving the growth for sports drink in the global market. Sports drinks are specially formulated beverages to help keep the body hydrated during or after exercise or sports activity. These drinks are usually rich in carbohydrate and are the efficient source of energy. These sports drinks contain electrolytes such as potassium, sodium, and chloride, it also consists high percentage of sugar to restore energy.

The increasing awareness among consumers regarding its benefits such as it minimizes the risk of dehydration, and electrolytes in the sports drink also helps to replace the sweat and maintains the balance of electrolytes in the body. Addressing increasing concern from consumers regarding sugar content, sports drinks manufacturers are focusing on including non-glycemic and non-caloric natural sweeteners such as erythritol, stevia, etc. Increasing consumer demand for natural and organic ingredients is fostering the trend of exotic ingredients in sports drinks. Sports drinks manufacturers are also investing time and money in finding better ingredients while formulating a final product with the aim to meet the purpose of sports drinks.

Key Market Insights from the report:

The global sports drink market accounted for US$ 24.6 billion in 2019 and is estimated to be US$ 37.5 billion by 2029 and is anticipated to register a CAGR of 4.30%. The market report has been segmented on the basis of product type, application, and region.

• Depending upon the product, the market is classified as isotonic, hypertonic, and hypotonic. They are categorized on the basis of the concentration of the drinks as compared to the human body. Isotonic drinks contain almost the same amount of sugar and salts as in the human body and is expected to dominate the market.
• On the application, the retail and supermarket segment is estimated to account for the largest share in the market owing to convenience in comparing cost-competitive rates with the other retail shops. Additionally, increasing disposable income in developing countries is resulting in consumer inclination towards bulk purchases at supermarkets and hypermarkets.
• By region, North America is the largest market for the global sports drink market. The region continues to be the leading market owing to the growing trend of athleticism and rising concerns over health. Changing consumer lifestyle resulting in a shift towards healthy dietary patterns is also expected to propel the market growth in North America. Countries in Europe such as Germany are among the major markets for sports drinks, owing to their high disposable incomes, followed by the countries in Asia Pacific. Countries such as China, India, and Japan are estimated to hold huge potential for market growth due to the presence of a large young population.

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Competitive Landscape:

The prominent player operating in the global sport drink market includes Coca-Cola Company, Abbott Laboratories, Monster Beverage Corp, Suntory Beverage & Food Ltd., Red Bull GmbH, Dr Pepper Snapple Group, Inc., GlaxoSmithKline Plc., GNC Holdings Inc., Pepsico Inc., PacificHealth Laboratories, Inc., and Nestlé S.A. The key strategies adopted by the players in the market are expansions, innovations, and new product launches to maintain competitiveness in the market. The companies have been introducing new and innovative products with the inclusion of naturally derived ingredients and additives, so as to make their product unique among the existing products.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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