Sports Drink Market Size: Competitive Landscape and Recent Industry Development Analysis 2023 to 2033
According to Future Market Insights, the global sports drink market size will reach US$ 30,634.10 Mn in 2023 and further grow at 6.0% CAGR throughout the forecast period (2023-2033). Overall sales of sports drinks are projected to total US$ 43,631.75 Mn by the end of 2033.
Growing health consciousness among consumers coupled with
increasing consumption of sports drinks is a key factor driving the global
sports drink market forward and the trend is expected to continue during the
forecast period.
Sports drinks, commonly referred to as electrolyte drinks,
are functional beverages that help athletes replace water, electrolytes, and
energy, especially during arduous exercise. They have become an essential part
of any workout routine and are mostly consumed by people seeking health
benefits from their beverages.
Most sports drinks contain carbohydrates (glucose),
caffeine, B vitamins, and electrolytes (sodium, magnesium, potassium, and
calcium). These drinks quickly replace fluids lost during exercise and provide
maximum energy uptake.
Rising popularity of fitness activities, growing concerns
about physical well-being, and increasing number of athletes, especially across
emerging nations are expected to boost the sports drink market during the
forecast period.
Similarly, easy availability of ready-to-drink functional
beverages through various sales channels and growing prominence of functional
beverages like sports drinks, among sports enthusiasts and millennials as they
help to enhance performance and endurance, and allow them to do vigorous
exercises will elevate demand over the next ten years.
Sports drinks are increasingly becoming popular among
consumers, especially millennials, as they are paying more attention to staying
healthy. These drinks provide energy and stamina, reduce fatigue, increase
endurance, and can help to rehydrate after exercise. Further, these sports
drinks often have a pleasant taste which makes them appealing to many
consumers.
However, a new study conducted by the University of Waterloo
has found that sports drinks are not as beneficial for health as they are
claimed to be. The study found that these electrolyte drinks do not improve
physical performance or hydration in any significant way. This may hamper the
market expansion to some extent.
Nevertheless, a positive growth trajectory has been
predicted by FMI for the global sports drink market during the forecast period
owing to the introduction and popularity of new innovative sports drinks
globally.
Information Source:
https://www.futuremarketinsights.com/reports/sports-drink-market
Key Takeaways from the Sports Drink Market
- The
overall sports drinks market is expected to be valued at US$
30,634.10 Mn by 2023.
- The
North America sports drink market is expected to register a 38% CAGR
between 2023 and 2033.
- The
U.S., China, Canada, Germany, and Mexico are the major countries driving
the demand for sports drinks.
- The
global market for sports drinks is estimated to surpass US$
43,631.75 Mn by the end of 2033.
- Sales
of sports drinks market grew at 4.0% CAGR during the
historical period from 2017 to 2022.
Competition Landscape: Sports Drink Market
Leading players in the global sports drink market include
The Coca-Cola Company, PepsiCo Inc., Gatorade, Powerade, and
V8, Powerade, and Body Armor among others. These companies
are focusing on research & development activities to come up with
innovative products in the market. besides this, they are strengthening their
distribution channels and forming alliances and partnerships with other
companies to solidify their position in the market.
Get Valuable Insights into the Sports Drink Market
FMI, in its new offering, provides an unbiased analysis of
the sports drink market presenting historical demand data (2017-2022) and
forecast statistics for the period from (2023-2033). The study divulges
compelling insights on the demand for Sports Drink Market based on product type
(isotonic, hypotonic, hypertonic), form (powered, liquid), packaging material
(metal, pet/plastic, glass), distribution channel (offline, online retail),
flavor (unflavored, flavored), & region forecast to 2023-2033.
About the Food & Beverage Division at Future Market
Insights
Expert analysis, actionable insights, and strategic
recommendations – the food & beverage team at Future Market Insights helps
clients from all over the globe with their unique business intelligence needs.
With a repertoire of over 1,000 reports and 1 million+ data points, the team
has analyzed the food & beverage industry lucidly in 50+ countries for over
a decade. The team provides end-to-end research and consulting services; reach
out to explore how we can help.
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