Global Sports Drink Market - Growth, Trends, and Forecast (2018 - 2023)
Sports Drink Market Insights
The global market for sports drink is expected to be 28.05 billion in 2017 and is projected to register a CAGR of 8.6%, during the forecast period. Sports drinks are the beverages whose stated purpose is to help athletes replace water, electrolytes, and energy before or after training or competition.
Sports drinks are gaining popularity amongst the individuals and athletes who are involved in the vigorous physical activity. Millennial generation, drive the sports drink market exponentially due to the keen interest in sports, inclination towards fitness, more buying capacity, and willingness to pay for health products. The marketers are targeting different age groups, like teenagers and young adults. The innovation of new flavors with added health benefits is a major driving factor of the sports drink market. Sugar-free and light drinks are the experimental market to attract the female consumers. The changing lifestyle is another major factor that is encouraging people to adopt healthy drink habits. This is also driving the demand for sports nutrition products including the sports drinks, such as protein drinks, herbal drinks, and non-protein drinks. The shift in the consumer trend is also encouraging the sports drink manufacturers to evolve new products that can suffice people to attain their health goals faster.
The growing inclination of people towards physical fitness, the number of health clubs and fitness centers has come up in the recent past. The fitness centers and health clubs have projected a CAGR of 7.4%. The growth of these establishments is one of the growth drivers for the sports drinks market. It is expected to provide further opportunities to the manufacturers.
Advertising also plays a vital role due to which boys have captured the sports drink market with nearly 45% and girls have about 32% share in the global scenario. However, the inclination of the market towards organic and natural products due to lesser side effects associated with them is hindering the growth of the industry. The increasing demand of sports drinks with natural sweeteners is expected to provide growth opportunity to the sports drinks manufacturers.
The market segmentation of sports drinks is segmented into isotonic, hypotonic & hypertonic, which are categorized for the higher or lower concentrations similar to the human body. Among the various product types, the isotonic segment held the largest share in the global sports drinks market in 2015. The market segmentation based on the packaging styles contains cans, bottles, cartons, in which bottles for sports drink is the market leader.
The largest share in the global sports drink market was of North America with over 37%, which is followed by Asia-Pacific with over 30%. North America is one of the leading markets due to the increasing trend of athleticism, rising concern for health, and shift in dietary patterns due to changing lifestyles. The developed countries, such as the U.S. and countries in Europe are the major markets for sports drinks products, due to their high disposable incomes, however, the emerging economies in Asia-Pacific are expected to be major growth drivers for the market. Countries, such as China, Brazil, India, and Japan have huge potential for sports drink market due to the higher number of young population, health awareness, and increasing disposable income.
The market is dominated by two big beverage brands PepsiCo and Coca-Cola. PowerAde and Gatorade of Coca-Cola and PepsiCo respectively are the major names with various products available in the market. Regional players, such as 100Plus, Lucozade, Sportade, and Pocari Sweat are making a mark in the global market.