Sports Drink Market Aims to Expand at Double-Digit Growth Rate By 2027
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COVID-19 Scenario Analysis:
COVID-19 pandemic is hitting the world with full force, which has disrupted the sports drink market too. Brands of this market need to find new ways to reach their customer. One of the ways to achieve this is by getting into partnership with e-sports business. Due to lockdown, people are spending their time indoors, where sport lovers entertain themselves playing video games. Brands can collaborate with this e-sports business to advertise their products, as due to pandemic many of the sports events are cancelled and hence targeting e-sports will be a good opportunity for the sports drink market. Most of the industries are experiencing a slowdown but sports drink market is able to supply their product to the market as they are getting demand from grocery stores.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
New formulation in the sports drink helps retain the existing customer base and at the same time attracting potential customer group such as casual athletes and manual laborers who are looking for energy and less calorie consumption at the same time. Earlier products of this market were attached with a notion of performance and metabolism accelerator but now sports drink is being associated with more functional benefits.
New product launches to flourish the market
As health and wellness of oneself is trending among the people globally, heathier drink options are gaining a lot of demand and therefore resulting in new product launches that give rise to new innovative beverages. Earlier, sports drink was sending a constant message of having carbohydrates and electrolytes. A brand, named BodyArmor, came up with a sports drink which shifted the focus from earlier notion to more natural ingredient like coconut water, avoiding artificial coloring and flavoring. The sports drink market are now offering sugar free claims on its product, which are changing the trend from traditional to diet sports drinks. G Zero, launched in 2018, offered a drink which claimed no sugar along with the benefit of hydration. Another brand name BODYARMOR LYTE, is offering various flavors in the market, which includes blueberry, tropical coconut, and mango.
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Surge in usage in automotive and industrial applications
The primary parts of sports drinks—water, carbs and electrolytes—are each significant for various parts of activity execution. Water and electrolytes are lost in sweat, and it is essential to supplant them, especially during long-length work out. The human body stores carbs in muscles and liver called glycogen, which is utilized for fuel during exercise. Sports drinks are intended to furnish these three significant fixings with the objective of improving activity execution or recuperation. The use of sports drinks is extremely basic in group activities like soccer, b-ball and football. These games include discontinuous exercises, which shift back and forth between extraordinary exercise and rest.
Type, Application, and Region
COCA-COLA COMPANY, GATORADE THE SPORTS FUEL COMPANY, J DONOHOE BEVERAGES LTD., BA SPORTS NUTRITION, LLC., ALL SPORT, INC., PepsiCo, GU Energy Labs, BE Innovations, CytoSport, Inc., Otsuka Pharmaceutical Co., Ltd
North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and the Rest of Asia-Pacific), and LAMEA (Middle East, Brazil, and the Rest of LAMEA)
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