What Is The Scope Of The Global Sports Drinks Market?
Sports drinks refer to beverages designed to replenish fluids, electrolytes, and carbohydrates lost during intense physical activity. They often contain water, sugar, electrolytes (such as sodium and potassium), and sometimes vitamins or other nutrients. These drinks aim to hydrate, provide energy, and support muscle function during exercise.
Sports Drinks Global Market Report 2024 provides data on the global sports drinks market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Sports Drinks market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Sports Drinks Market Expected To Grow In Size And Annual Rates?
The sports drinks market size has grown strongly in recent years, expanding from $22.87 billion in 2023 to $24.23 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. This growth can be attributed to the rise in globalization, focus on health and wellness, rise in demand for functional beverages, demand for functional ingredients, and increased health consciousness. The market size is expected to see strong growth in the next few years, reaching $30.92 billion in 2028 at a CAGR of 6.3%. Future growth drivers include increasing demand for zero-sugar sports drinks, growing popularity of sports and fitness activities, increasing participation in organized sports, increasing athletic events, and a growing number of fitness centers and gyms. Major trends include hybrid beverages, healthier formulations, digital integration and smart packaging, customization and personalization, natural and clean-label ingredients, plant-based formulations, and hydration monitoring technology.
What Main Forces Are Fueling Expansion In The Sports Drinks Market?
Growth in sports and athletics is poised to drive the expansion of the sports drinks market in the foreseeable future. Sports and athletic activities encompass a wide range of physical pursuits that promote health, skill development, and physical endurance. Increased participation in these activities stems from heightened health awareness, accessibility to sports facilities, and societal emphasis on fitness. Sports drinks are designed to replenish fluids, electrolytes, and carbohydrates lost during strenuous physical exertion, aiding in post-exercise recovery. For instance, statistics from May 2023 published by the National Sporting Goods Association indicate a 4% increase in fitness activity participation among Americans aged 7 and above from 2021 to 2022. Moreover, findings from the Active Lives Adult Survey by Sport England show that over 60% of adults in the UK engaged in at least 150 minutes of physical activity per week in April 2023, marking a 1.7% year-on-year increase. Therefore, growth in sports and athletics is propelling the growth of the sports drinks market.
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What Are The Primary Segments In The Global Sports Drinks Market?
The sports drinks market covered in this report is segmented –
1) By Soft Drink Type: Electrolyte-Enhanced Water, Hypertonic, Hypotonic, Isotonic, Protein-Based Sport Drinks
2) By Ingredient: Citric Acid, Flavors And Preservatives, Salts And Electrolytes, Carbohydrates, Vitamins, Other Ingredients
3) By Packaging Type: Aseptic Packages, Metal Can, Polyethylene Terephthalate (PET) Bottles
4) By Sub Distribution Channel: Convenience Stores, Online Retail, Specialty Stores, Supermarket Or Hypermarket, Other Sub Distribution Channels
5) By End User: Athletes, Casual Consumers, Lifestyle User
Which Key Trends Are Driving Changes In The Sports Drinks Market?
Key players in the sports drinks market are concentrating on creating advanced products with cutting-edge technologies, such as ION4 technology, to improve hydration, replenish electrolytes, and boost performance for athletes and fitness enthusiasts. ION4 technology is an advanced hydration system designed to replace electrolytes lost during physical activity, helping athletes maintain peak performance and avoid dehydration. For instance, in September 2023, Coca-Cola Company, a US-based beverage manufacturer, launched Limca Sportz ION4 in India. This sports drink is scientifically formulated with ION4 technology to address the hydration and energy needs of athletes. It includes essential minerals for rapid fluid absorption and refreshing real lemon juice for better taste.
What Is The Leading Region In The Sports Drinks Market?
North America was the largest region in the sports drinks market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sports drinks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
