PUBLISHER: SkyQuest | PRODUCT CODE: 1179109
PUBLISHER: SkyQuest | PRODUCT CODE: 1179109
Global Sports Drink Market size was valued at USD 27.22 billion in 2021, and it is expected to reach a value of USD 36.35 billion by 2028, at a CAGR of 4.2% over the forecast period (2022-2028).
Food and beverage companies have made every effort to take advantage of the opportunity as people around the world become fitter and healthier. The sports drink industries have benefited greatly from this factor as a result of their ability to modify their products to better suit consumer demand. During the forecast period, the market for plant-based sports and energy drinks will be impacted by the expanding vegan population worldwide. The market is also being driven by the expanding athlete community and the rising number of athletes in developing nations.
Top-down and bottom-up approaches were used to estimate and validate the size of Global sports drink market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
Global sports drink market has been segmented based on distribution channel, type, packaging type, and region. Based on distribution channel, the market is segmented into online and offline. Based on the type, the market is segmented into isotonic, hypotonic, and hypertonic. By packaging type, the market is segmented into bottles (pet/glass), cans, others. Based on region, the sports drink market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
The development of new flavors with added health benefits, changes in consumer lifestyle, such as joining fitness and health clubs, and eating the right foods that provide a balanced diet of nutrients are some of the major factors anticipated to drive the market. There is a growing market for nutrient-rich, low-calorie sports drinks made with all-natural ingredients like stevia and other sugar substitutes as a result of growing health concerns. For instance, PepsiCo Inc. introduced the G-Zero zero-sugar Gatorade variety to appeal to consumers who are health-conscious. Lemon-Lime, Orange, and Glacier Cherry flavors of the products will be offered.
Restraint
The majority of products on the market have high sugar content, which can have a detrimental effect on 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.
Market Trends
Natural ingredients are increasingly being used by manufacturers because they are healthier than traditional sports drinks, which presents a market expansion opportunity. For instance, a Chicago-based start-up called Good Sports introduced its natural sports drink made of 97 percent dairy in February 2021. Compared to conventional ones, this has 33 percent fewer sugar and three times as many electrolytes. Additionally, the trend toward sports drinks will be aided by the growing number of health-conscious people in developing and underdeveloped nations.