Sports Drink Industry Size Is Likely To Reach a Valuation of Around $36.35 Billion by 2028

According to Fortune Business Insights, the global sports drink market size is predicted to reach USD 36.35 billion in 2028 from USD 27.22 billion in 2021, exhibiting a CAGR of 4.2% during the forecast period. The growing number of health-conscious consumers around the world will consequently aid the market growth in the forthcoming years. Furthermore, the rising number of athletes and sports persons will also encourage the growth of the market. According to the National Collegiate Athletic Association (NCAA), the number of NCAA athletes stretched high. In 2017-18, around 494,992 students participated in NCAA championship sports, which was an increase of more than 3,000 since 2016-17. This information is given by Fortune Business Insights, in a new report, titled, "Sports Drink Market, 2021 - 2028." The market value stood at USD 26.24 billion in 2020. As per the report, the surging focus of males and females on sports activities will have a positive impact on growth. For instance, the number of men's teams nationwide increased by 62 in the past years, while women's teams increased by 64. Women's teams have outnumbered men's teams since 1996-97.

COVID-19 Pandemic: Rising Home Workouts to Result in High Growth

The COVID-19 pandemic has resulted in rising workout practices from home and has further augmented the demand for sports drinks. As per a study published by the Food Business News, the retail sales of non-aseptic energy drinks U.S. surged by 15% in the U.S. in November 2020. But, the gradual lift of lockdowns and curfews in various countries worldwide is anticipated to increase the number of outdoor activities in the near future. It would also contribute to growth.

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Fortune Business Insights™ lists out all the sports drink market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

• PepsiCo, Inc (New York, United States)
• The Coca-Cola Company (Georgia, United States)
• BA Sports Nutrition (Whitestone, New York)
• AJE group (Lima, Peru)
• Britvic PLC. (Hertfordshire, United Kingdom)
• MyDrink Beverages (Minnesota, USA)
• Kraft Heinz Company (Illinois, United States)
• Nestle SA (Vevey, Switzerland)
• GlaxoSmithKline plc. (Brentford, United Kingdom)
• Abbott Nutrition co (Illinois, United States)

Report Coverage-

The sports drink market research report executes a PESTEL study and SWOT analysis to reveal the stability, restrictions, openings, and threats in the market. Combined with the market analysis capabilities and knowledge integration with the relevant findings, the report has foretold the robust future growth of the market, and all articulated with geographical and merchandise segments. It also shows different procedures and strategies, benefactors and dealers working in the market, exploring components convincing market development, generation patterns, and following systems. Additionally, the figures and topics covered in this report are both all-inclusive and reliable for the readers.

A Notable Industry Development-

Launch of Gatorade by BOLT24 to Augment Growth Process

Gatorade, an American manufacturer of sports-themed beverages and food products, launched BOLT24 in July 2019. The company's new sports drink is a low-calorie electrolyte beverage, as it doesn't contain artificial flavors or sweeteners. It is meant for athletes to keep them hydrated around the clock. This new launch is expected to fuel the demand among athletes owing to the natural and organic content of the drink, which, in turn, will facilitate the sports drink market share.

Gatorade's senior vice president, Brett O'Brien, mentioned, "BOLT24 is based on sea salt and watermelon. This feature distinguishes it from other Gatorade products." He further added that the new drink would allow the company "to think about athletes in a whole different way." In addition, the rising R&D investments by key players for the development of innovative sports drinks aimed at athletes would accelerate healthy growth of the market.

Segments-

Hypotonic Segment Generated 11.86% Share in 2020: Fortune Business Insights™

Based on the type, the market is divided into hypertonic, hypotonic, and isotonic. The hypotonic segment earned 11.86% in terms of share in 2020. But, the isotonic segment is expected to remain at the forefront in the upcoming years as these drinks contain the same amount of salt and sugar as of the human body.

Regional Insights-

Presence of Major Companies to Help North America Gain Momentum

The market in North America stood at USD 8.80 billion in 2020 due to the increasing health-conscious population in the region. For instance, in 2018, approximately 55% of the American population lived a healthier lifestyle. Furthermore, the rising demand for these drinks in the U.S. due to the presence of major players such as Gatorade, PowerAde, and BodyArmor will further influence the sports drink market trends in North America.

Asia Pacific is expected to witness a high demand for these drinks in the forthcoming years owing to the rising disposable incomes of people living in developing countries such as India, China, and Japan. In addition, the increasing number of health-conscious consumers will compel manufacturers to unveil new healthy drinks, which, in turn, would boost the market share by brand.

Rеаѕоnѕ to Get thіѕ Rероrt:

A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
Data on market value for each section and sub-segment
Indicates the region and market segment that is likely to expand the fastest and dominate the market.
The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.
The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.

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Competitive Landscape-

Key Players Focus on Partnership Strategy to Gain a Competitive Edge

The global market consists of numerous renowned companies that are currently focusing on competing with their rivals. To do so, they are partnering up with leading sports associations.

Frequently Asked Questions (FAQs):

1. Is the Sports Drink Industry growing?

Answer: Fortune Business Insights states that the global market size was USD 26.24 billion in 2020 and is projected to reach USD 36.35 billion by 2028.

2. Who are the key players in the Sports Drink Market?

Answer: PepsiCo, Inc, The Coca-Cola Company, BA Sports Nutrition, AJE group, Britvic PLC. are significant players in the global market.

3. What are Key Factors Raising the Market?

Answer: Increasing Inclination towards Physical Fitness to Propel Market Growth

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This release was published on openPR.