Sport drinks Market Growth Attributed to Physical Fitness. Sports drink are functional beverages used to keep athletes hydrated before and after physical activity. Its high in carbohydrates, electrolytes, and minerals and helps athletes perform better. Water, tastes, salt, sugar, potassium, and artificial colors are among the other ingredients. Factors such as rising interest in healthy lifestyles, exercise activities. Increased involvement in marathons likely to drive the sports drink market over the forecast period.
Market development has led to a shift in the consumption target of target markets. This is because there is an increase in the number of athletes in emerging countries. According to Fortune Business Insights, the sports drink market size was equivalent to USD 26. 24 billion in 2020. It is anticipated to grow to USD 36. 35 billion by 2028. This is a CAGR of 4. 2% during the 2021-2028 period. , .The demand for such items is increasing as it aids in improving performance and stamina. A significant population shift has caused consumption patterns to change as a result of migration from rural to urban areas.
Furthermore, during the forecast period, an increase in the number of sports players and athletes in emerging countries will be a major contributing factor. For example, Powerade, a leading brand, came up with new ways to re-energize athletes in January 2020. The company has expanded its product line to include new innovations such as zero sugar hydration drinks. Products containing branched amino acids, vitamin B12, B6, B3, electrolytes, and creatine have been introduced by the company.
Supply Chain Disruption to Hamper Growth During COVID-19 pandemic
Government limitations on travel, athletic events, and trekking activities have limited the market. Due to disruptions in the supply chain, lack of staff, and the movement of cars on road, movement of commodities has slowed. As a result of the epidemic, demand for consumer and retail items has decreased. For example, according to data issued by Food Business News in November 2020. The U.S. saw a 15% increase in retail sales of such items.
Two popular exercises to stay physically fit are predict to fuel the market expansion in coming years. Their purchasing power and willingness to consume high-quality products in exchange for healthy alternatives are also important factors. Sports drink has various health benefits, including the addition of vital nutrients, such as electrolytes, which aid in body balance and reduce the danger of dehydration. Furthermore, rising consumer awareness of product health benefits is expected to propel the sports drink market growth.
Combined with the market analysis capabilities and knowledge integration with the relevant findings, the report has foretold the robust future growth of the market, and all articulated with geographical and merchandise segments. Moreover, it also shows different procedures and strategies, benefactors and dealers working in the market, explores components convincing market development, generation patterns, and following systems. Additionally, the figures and topics covered in this report are both all-inclusive and reliable for the readers.
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.
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. The Asia Pacific will witness high demand for sports drinks in the future. This is due 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.
June 2019: Coca-Cola confirmed the debut of its Powerade sports beverage in India, expanding its product line and providing customers with a variety of options.
July 2019: BOLT24, a low-calorie electrolyte beverage for athletes, was announced by Gatorade. The hydration-focused product contains no artificial sweeteners or flavors.
Top Companies in the Market Listed by Fortune Business Insights™:
· PepsiCo, Inc. (New York, U.S.)
· The Coca-Cola Company (Georgia, U.S.)
BA Sports Nutrition (Whitestone, New York)
· AJE group (Lima, Peru)
Britvic PLC. (Hertfordshire, U.K.)
MyDrink Beverages (Minnesota, U.S.)
Kraft Heinz Company (Illinois, U.S.)
· Nestle SA (Vevey, Switzerland)
· GlaxoSmithKline Plc. (Brentford, U.K.)
· Abbott Nutrition Co. (Illinois, U.S.)
Increasing Health Awareness to Boost the Market for Sports Drinks
Major players are introducing organic drinks in a variety of tastes to fulfill consumers’ needs. As people become more concerned about their health, there is a greater demand for nutritional, low-calorie sports drinks made with natural ingredients such as stevia. Many manufacturers benefit from constant R&D operations. Since it allows them to improve their production unit, which boosts income throughout the anticipated term.
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