Sports Drink Market Dynamics
Sports drinks are beverages specially designed for athletes to replace electrolytes, energy, and water before, during, or after training or competition. Growing demand for these beverages among athletes and individuals involved in intense physical activities drives the growth of the sports drink market. The sports drink market is a lifestyle-driven market. With the growing concern about physical well-being, the inclination towards physical fitness has increased. Leading producers emphasize expanding their product portfolio by introducing new flavors with added health benefits. Also, the growing number of sportsperson and athlete community has resulted in an increased number of fitness centers. All these factors are projected to fuel the sports drink market share.
Sports drink helps improve performance endurance and reduces the chances of dehydration in the body by balancing the electrolytes in the body. The rising health concerns have increased the demand for nutritious, low-calorie sports drinks made from organic ingredients, such as stevia. For example, PepsiCo Inc. introduced a zero-sugar variant of Gatorade, 'G-Zero,' to captivate health-conscious consumers.
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The outburst of the coronavirus negatively influenced the sports environment. This is because of the restrictions imposed on sports and outdoor activities due to lockdown. Also, several leagues, tournaments, and Olympic Games were postponed due to the restricted gaming activities. Thus, these stringent lockdown norms have reduced the sales revenue of sports drinks.
Key players operating in the Sports Drink Market include The Coca-Cola Company, AJE, BA Sports Nutrition, LLC, PepsiCo, MyDrink Beverages, Nestle, The Kraft Heinz Company, Britvic PLC., Abbott, and GlaxoSmithKline plc
Type Segment Analysis
The Isotonic segment is projected to hold a larger share during the forecast period. Isotonic Drinks prevent exercise-related injuries, reduce urine output, and improve fluid retention to avoid dehydration. Thus, the increasing adoption of isotonic drinks by athletes, especially long and medium-distance runners, will strengthen the sports drink market size.
Distribution Channel Segment Analysis
The online segment is expected to grow at a higher CAGR over the forecast period. The availability of a diversified product range and the flexibility to choose are the major factors fuelling the sports drink market growth. Also, the accelerating penetration of the internet & smartphones across several countries has encouraged the adoption of e-shopping among the population.
Regional Analysis
Geographically, the North American region is predicted to expand at a faster compound annual growth rate during the forecast period due to the growing trend of athleticism and rising concern over health. Furthermore, the strong presence of the key players, such as Powerade, is also a major factor fuelling the market growth. Changing the lifestyle of consumers has shifted individuals towards a healthy diet pattern. The Asia Pacific sports drink market is expected to surge over the coming years, owing to the accelerating urbanization and increasing number of fitness centers.
Sports Drink Market Segmentation:
Sports Drink Market by Type
• Hypotonic
• Isotonic
• Hypertonic
Sports Drink Market by Brand
• Powerade
• Gatorade
• Others
Sports Drink Market by Packaging Type
• PET/Plastic
• Metal
• Glass
Sports Drink Market by Distribution Channel
• Online Channel
• Supermarket/Hypermarket
• Others
Sports Drink Market by Region:
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• North America
o United States of America
o Canada
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
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