The sports drinks global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Sports Drinks Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The sports drinks market size has grown strongly in recent years. It will grow from $22.87 billion in 2023 to $24.23 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period 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 sports drinks market size is expected to see strong growth in the next few years. It will grow to $30.92 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to 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 in the forecast period 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.
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Scope Of Sports Drinks Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Sports Drinks Market Overview
Market Drivers –
Growth in sports and athletics is expected to propel the growth of the sports drinks market going forward. Sports and athletics encompass a wide range of physical activities and competitive games that involve skill, strategy, and physical exertion. Increased interest and participation in sports and athletics are driven by various factors, including health awareness, accessibility to facilities, and societal emphasis on fitness. Sports drinks in sports and athletics primarily replenish fluids, electrolytes, and carbohydrates lost during intense physical activity. These drinks are formulated to replace fluids lost through sweating during exercise. For instance, in May 2023, according to the National Sporting Goods Association (NSGA), a US-based wholesaler and manufacturer of sports equipment, participation in fitness activities among Americans aged 7 and above increased by 4% from 2021 to 2022. Additionally, in April 2023, according to the Active Lives Adult Survey conducted by Sport England, a UK-based non-departmental public body, more than 60% of adults, totaling 29.1 million individuals, managed to engage in 150 or more minutes of physical activity per week, marking a year-on-year increase of 1.7%. Therefore, growth in sports and athletics is driving the growth of the sports drinks market.
Market Trends –
Major companies operating in the sports drinks market are focused on developing advanced products formulated with innovative technologies, such as ION4 technology, to enhance hydration, replenish electrolytes, and improve performance for athletes and fitness enthusiasts. ION4 technology in sports typically refers to an advanced hydration system designed to replenish electrolytes lost during physical activity, helping athletes maintain optimal performance and prevent dehydration. For instance, in September 2023, the Coca-Cola Company, a US-based drinks manufacturing company, launched the Limca Sportz ION4 sports drink in India. This new sports drink is scientifically formulated with innovative ION4 technology, which is designed to cater to the hydration and energy needs of athletes and fitness enthusiasts. It contains essential minerals for rapid fluid intake and has refreshing real lemon juice to add to the taste and palatability.
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
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Regional Insights –
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.
Key Companies –
Major companies operating in the sports drinks market report are <b>Nestle SA; PepsiCo Inc; Abbott Laboratories; The Coca-Cola Company; GlaxoSmithKline plc; The Kraft Heinz Company; Suntory Holdings Limited; Keurig Dr Pepper Inc; Otsuka Holdings Co Ltd; Decathlon Sports India Pvt Ltd; Hormel Foods Corporation; The Swire Group; Molson Coors Beverage Company; Red Bull GmbH; Amway; Thai Beverages PCL; Monster Beverage Corporation; Nongfu Spring Co. Ltd.; AriZona Beverages USA; GNC Holdings LLC; Taisho Pharmaceutical Co Ltd; Britvic PLC; BA SPORTS NUTRITION LLC; Olvi Plc; Carabao Tawandang Co. Ltd.; The Jel Sert Company; GU Energy Labs; CytoSport Inc; BioSteel Sports Nutrition Inc.; ROAR Beverage Company; Stokely-Van Camp Inc. </b>
Table of Contents
1. Executive Summary
2. Sports Drinks Market Report Structure
3. Sports Drinks Market Trends And Strategies
4. Sports Drinks Market – Macro Economic Scenario
5. Sports Drinks Market Size And Growth
…..
27. Sports Drinks Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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