Market Research Future (MRFR) believes that the Sports Drink Market Share can perform significantly and continue to soar at a decent rate between 2020 and 2027 (review period).
Growth Drivers and Impediments
The mounting number of athletes paired with the escalation in the number of sportspersons, especially in emerging nations can be a huge growth booster. Growing consumer preference for physical activities due to focus on maintaining the fitness level coupled with the soaring number of fitness and health clubs will also induce market growth in subsequent years. Manufacturers are constantly working on bolstering their product lines by exploring new tastes and flavors with a higher level of health benefits. New products are increasingly being targeted at various age groups, especially teenagers that strongly influenced by the social media and desire a more fit body.
Millennials are increasingly opting for sustainable and organic beverages and therefore, players are producing sports drinks that contain natural ingredients, like natural sweeteners. This could emerge as a profitable opportunity for the manufacturers to foster the appeal of their products among these consumers.
Coca-Cola will soon be acquiring a major share in BodyArmor, a premium range of sports drinks. Unlike Coca-Cola’s Powerade and Gatorade, BodyArmor is known for being a performance-enhancing sports drink that contains low sodiu, high potassium and coconut water, while also being free of any artificial coloring and sugar.
The major segments based on which the global market for sports drink has been studied in the report include ingredient, type, end-user, and age.
The ingredients generally infused in sports drinks are flavors & preservatives, vitamins, citric acid, carbohydrates, salts & electrolytes, and others. Sports drinks containing electrolytes are consumed extensively by consumer who want to maintain their energy levels and accelerate the recovery rate following a workout. These drinks compensate for the loss of salts as well as electrolytes among athletes and regular exercisers. Therefore, the segment should procure the top position in the coming years.
Depending on the sugar content, Sports Drink Market Share has been considered for isotonic, hypertonic and hypotonic.
Some of the top industry end-users are casual consumers, lifestyle user and athletes. Sports drinks are studied extensively worldwide, and recent studies deem them to be the perfect alternatives to water among athletes. Since athletes perform intensive workouts, their bodies require sports drinks having vitamins and carbohydrates to transfer energy to their sore muscles. Athletes are the leading end-users of sports drinks, given their high requirement for electrolytes, fluids, and carbohydrates, to reduce stomach issues and foster intestinal absorption so that energy moves smoothly to the muscles.
Lastly, sports drinks are popular among two age groups, namely teens and adults.
Asia Pacific/APAC, North America, Europe, along with RoW/rest of the world are the key markets for sports drink across the world.
North America is the top performing market and will maintain its strong streak throughout the conjectured period. The region is one of the leading consumers of sports drinks, as these are easily available and are affordable. Rising preference for functional beverages like sports drinks, particularly among millennials in view of mounting health consciousness has been favorable to a large extent. Significant health awareness among the people, given the high impact of social media and the constant advertisings placed by sports drink companies help foster the sales. Product developments through the synergizing of expertise of companies will also create a host of attractive avenues in the coming years. E-commerce and online food delivery channels are prevalent in the region, as these offer add-on services, like coupons, discounted costs and cash-back offers. Sensing this, top companies are teaming up with these channels to elevate customer reach, which should also benefit the Sports Drink Market in the region.
Asia Pacific will continue to make the fastest progress in the years ahead, thanks to the peaked interest in sports and athletics and the resultant increase in the preference for performance enhancing beverages like sports drinks. Growth of the urban infrastructure across Japan, Indonesia, China and India and the soaring preference for online delivery services also help enhance the market share in the region.
Major firms active in the global market for sports drink are Coca Cola, Monster beverage co, Abbott Nutrition co, Pepsico, Britvic plc, Extreme drinks co, Arctico beverage company international inc, D’angelo, Champion nutrition inc, Living essentials, Glaxosmithkline plc, Fraser, neave holdings bhd, Arizona Beverage company, AJE group, and many more.
Most of these firms are focused on undertaking strategies such as manufacturing capacity expansion, acquisition, and new product launches to elevate their market positions.
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