The sports drinks market size is expected to advance at a CAGR of 6.0% during 2021–2030, to reach $41,833.8 million by 2030. This is ascribed to the increasing number of manufacturers and their expanding focus on novel products and the rising number of fitness centers and health clubs.
The market is also expected to be driven by an increasing number of people engaging in physical activities, including intense sports. These products improve an athlete’s performance and provide immediate energy, thus boosting the growth of the market.
In developed markets, consumers are focusing more on natural and organic products, due to their fewer side-effects. This is providing an opportunity to manufacturers to add value to their products. Moreover, males consume a higher volume of sports drinks as compared to females, which makes the former a lucrative target customer group, while the latter offers a larger sales growth potential.
In the APAC region, the increasing awareness among people about the benefits of exercise and sports drives the market. In developing nations, such as India and China, the demand for sports drinks is increasing significantly because of the swift urbanization and rapid adoption of healthy lifestyles by middle-class consumers.
The increasing income in China has largely contributed toward the growth of the sports drinks market, as have the rising standards of living in India and China and surging health consciousness.
Additionally, North America holds the largest share due to the presence of various players and large number of customers in the region. Further, the products are easily available at various platforms, ranging from supermarkets to online channels, which has ensured a steady flow of revenue for the players.
In addition, Europe is showing significant growth because of the increasing number of fitness clubs and rising gym membership. Likewise, the increasing number of tourists visiting Europe led to a surge in the consumption of these beverages, as they aid in regaining energy on a long day tour that requires extensive walking. According to the European Union, in 2019, the number of international tourist arrivals was about 968 million.
The rising inclination of the millennial population toward physical fitness and the increasing buying power and willingness to pay for healthy and natural products are some of the factors propelling the growth of the sports drinks market. Healthy drinks have various advantages, such as enhancement of the body performance and maintenance of the balance of electrolytes. Hence, the increasing awareness of the health benefits of these products is likely to contribute toward the growth of the sports drinks market.
The growing trend of sports participation has also fueled the demand for sports drinks. Moreover, the rising vegan population around the world will drive the demand for plant- based products in the forecast period.
The most-significant sports drinks market players are The Kraft Heinz Company, MyDrink Beverages, The Coca-Cola Company, PepsiCo Inc., GlaxoSmithKline plc, Abbott Laboratories, and AJE group.