With a CAGR of 4.2%, the sports drinks market will reach USD 36.35
Pune, India, June 22, 2022 (GLOBE NEWSWIRE) — The world sports drink market is expected to grow over the projected period due to the increasing inclination towards physical fitness. Fortune Business Insight™ publish this information in a report entitled, “Sports Drink Market, 2021-2028”. According to the report, the sports drink market size was $26.24 billion in 2020. The market is expected to grow from $27.22 billion in 2021 for $36.35 billion by 2028 to a CAGR of 4.2% during the period 2021-2028.
Virtual workouts amid pandemic-spurred market growth
Sports clubs and gymnasiums have been closed during the pandemic as the government restricted the use of public places. This has encouraged people to embrace a home workout culture, bolstering the growth of the sports drink market during the pandemic. In addition, the training sessions were held virtually and were widely adopted by the population.
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sports drink market Report Scope and Segmentation:
|Market size value in 2020||USD 26.24 billion|
|Revenue forecast in 2028||USD 36.35 billion|
|Rate of growth||CAGR of almost 4.2% 2021-2028|
|Year of reference||2020|
|Historical years||2017 – 2019|
|Forecast years||2021 – 2028|
|Segments Covered||By type, by brands, by packaging type, by distribution channel, by region|
|Forecast units||Value (USD billion) and volume (units)|
|Quantitative units||Revenue in USD Million/Billion and CAGR from 2021 to 2028|
|Regions covered||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa, and Rest of the World|
|Countries covered||United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others|
|Number of companies covered||PepsiCo Inc (USA), The Coca-Cola Company (USA), BA Sports Nutrition (USA), AJE Group (Peru), Britvic PLC. (United Kingdom), MyDrink Beverages (United States), Kraft Heinz Company (United States), Nestlé SA (Switzerland), GlaxoSmithKline plc. (UK), Abbott Nutrition co (USA)|
|Report cover||Market Growth Drivers, Restraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Market Attractiveness Analysis by Segments & Region, Market Share Analysis business and analysis of the impact of COVID-19.|
|Scope of customization||Take advantage of personalized purchasing options to meet your exact research needs.|
Fortune Business Insights™ lists all the companies in the sports drink market currently working to reduce the impact of the Covid-19 pandemic on the market:
- PepsiCo Inc (USA)
- The Coca-Cola Company (USA)
- BA Sports Nutrition (USA)
- AJE Group (Peru)
- Britvic PLC. (UK)
- MyDrink Beverages (US)
- Kraft Heinz Company (USA)
- Nestlé SA (Switzerland)
- GlaxoSmithKline plc. (UK)
- Abbott Nutrition co (USA)
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The report sheds light on current industry trends and key developments introduced by leading market players. The drivers and restraints that have affected the growth of the global market over the forecast period are highlighted further in this report. The impact of the COVID-19 pandemic on the growth and development of the market is discussed, along with some beneficial growth strategies adopted by leading market players. Additionally, a list of major market players along with regional information on segmented market areas are given later in this report.
Drivers and constraints:
Rising fitness awareness to increase growth
The market is expected to witness significant growth over the forecast period owing to the increasing production of healthier products with higher nutritional values. Moreover, the increasing inclination of the population towards physical fitness is expected to fuel the growth of the market in the coming years.
However, high sugar levels in beverages may hamper the market growth.
Asia-Pacific holds the highest market share due to increased fitness business conduction
Asia-Pacific dominates the global sports drink market share owing to the increase in sports activities and growing population of gamers. Also, the emerging trend of several fitness activities among different age groups is expected to boost the market.
North America is expected to grow at a substantial CAGR over the forecast period owing to the growing participation of the population in outdoor sports activities. The regional market stood at USD 8.80 billion in 2020.
Isotonic Segment to Hold Largest Share Owing to Growing Demand
By type, the market is trifurcated into isotonic, hypotonic, and hypertonic. Isotonic segment is expected to dominate the market as this type of drink is mainly preferred by athletes and sportsmen.
Rising Demand for Gatorade Among Athletes to Ensure Industry Growth
Based on brands, the market is divided into Gatorade, PowerAde and others. The Gatorade segment is expected to hold a dominant market share owing to its growing demand from gamers and athletes.
Metal packaging segment will dominate the market owing to its durability
Based on packaging type, the market is categorized into metal, PET/plastic, and glass. Metal packaging is expected to dominate the market in the coming years owing to the durability of the property.
The offline segment will dominate the global market thanks to the instant purchase offer
By distribution channels, the market is segregated into offline channels and online channels. The offline distribution channel is expected to dominate the market due to its instant supply and purchase.
Geographically, the market share is segmented into North America, Europe, Asia-Pacific, South America, Middle East and Africa.
Browse Detailed Abstract of Research Report with TOC:
Launching new beverages helps companies propel growth
The major players in the market are focusing on launching new products to enhance their business performance and attract global customers. Also, leading companies are focusing on targeting their potential customers by considering nutritional factors and launching new sports drinks according to customer preferences.
Detailed Table of Contents:
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- Emerging trends
- key ideas
- Overview of parent/related markets
- Industry SWOT Analysis
- Supply chain and regulatory analysis
- Recent Industry Developments – Policies, Partnerships, New Product Launches and Mergers & Acquisitions
- Impact of COVID-19 on the Sports Drinks Market
- Global Sports Drinks Market Analysis, Outlook and Forecast, 2017 – 2028
- Main results/summary
- Market size estimates and forecasts
- By type (value)
- By Brands (Value)
- By type of packaging (value)
- By distribution channel (value)
- offline channel
- online channel
- By region (value)
- North America
- Asia Pacific
- South America
- Middle East and Africa
- By type (value)
Key Industry Developments:
- June 2019: Coca-Cola said the introduction of its sports drink PowerAde in India to expand its portfolio and provide more options to Indian consumers.
- July 2019: Gatorade announced the launch of BOLT24, a low-calorie electrolyte drink for athletes. This product contains no artificial sweeteners or flavors and is designed for hydration.
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