Sports Drinks Market to Reach Valuation of ~US$ 1 Bn by 2028: Industry Probe

April 09, 2020, Domain: Consumer Goods & Retail

According to a new market report published by Industry Probe (www.industryprobe.com) titled Sports Drink Market (Product: Isotonic, Hypotonic, and Hypertonic; Type: Organic/Natural and Synthetic; End User: Men and Women; and Distribution Channel: Online [Company Websites and e-Commerce Websites] and Offline [Hypermarkets/Submarkets, Specialty Stores, Brand Stores, and Multi-brand Stores]) – Global Industry Dynamics, Trends, and Forecast, 2021–2028,’ the global sports drinks market are expected to reach ~US$ 1 Bn by 2028 and expand at a CAGR of 5.4% from 2020 to 2028.

Overview

  • The global sports drinks market was valued at ~US$ 900 Mn in 2019 and is expected to expand at a CAGR of 5.4% from 2020 to 2028. Growing awareness about health and awareness and the benefits of sports drinks are fuelling the demand in the global market.

  • North America held a major share of the global sports drinks market in 2019, followed by Europe and the Asia Pacific

  • The Middle East & Africa and South America are expected to be a key upcoming market for sports drinks during the forecast period. Sports drinks are a great source of energy and help to keep the body hydrated before or after any physical activity. Hence, the market is expected to witness significant growth in the coming years.

Driving Factors

  • Sports drinks are primarily consumed by athletes and fitness enthusiasts. However, change in lifestyle has led to increased adoption of sports drinks by lifestyle users. Hence, growing demand is significantly driving the expansion of the sports drinks market.

  • Moreover, during prolonged exercise, replenishing water and electrolytes prevent heat-related injuries and potentially increase performance

Key Challenges

  • Excessive sugar content in several sports drinks is expected to hamper the market growth in the coming years. Extra sugar contributes to weight gain and tooth decay. Several ingredients have an adverse effect on human health too. These factors are anticipated to restrain the market growth.

Market Preference

  • On the basis of product, the isotonic product segment held a major share of the global market in 2019. In terms of type, the synthetic segment accounts for a major share of the global sports drinks market. Based on end-user, the men segment is a major contributor to the growth of the global sports drinks market.

  • In terms of distribution channel, offline is expected to be the most attractive segment during the forecast period, due to the preference of consumers for offline shopping

  • In terms of region, North America accounts for a major share of the global sports drinks market, followed by Europe and the Asia Pacific

  • A rise in participation in sports and an increase in awareness about the benefits of sports drinks are expected to propel the sports drinks market. This is leading to the growing demand for sports drinks in North America.

Competition Landscape

  • The sports drinks market is dominated by several players that are focused on the development of new products to cater to the rising demand

  • The report includes the below-mentioned pointers of major players operating in the global sports drinks market:

    • Company Overview

    • Product Profiling

    • Brand Share Analysis (2018)

    • Product Innovation

    • Business Strategies/Recent Developments

      • Technological advancements

      • Key Mergers & acquisitions

      • Expansion strategies

    • Company Financials

Major Players Covered Under the Scope:

  • Abbott Nutrition

  • Atkins Nutritional Inc.

  • Glanbia Plc

  • GNC Holdings, Inc.

  • Herbalife International, Inc.

  • Post Holdings, Inc.

  • Reliv International, Inc.

  • Rockstar Inc.

  • The Coca-Cola Company

  • The Gatorade Company, Inc.

Market Segmentation/Research Scope

Sport Drink Market – Global Industry Dynamics, Trends, and Forecast, 2021–2028

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