Recovery & During Exercise Sports Drinks to Yield 3/4th of Market Revenue: Fact.MR
Published : 07 Oct 2021 Industry: Food & Beverage
A recently published report by Fact.MR reveals that the global sports drink market is projected to grow at a modest CAGR of 5.3% during the forecast period (2021-2031), surpassing US$ 25 Bn by 2031. Today’s sports drinks are more specialized than ever before with new formulations to meet the changing customer demands.
Historical data reveals that the market experienced an incline of 4% in term of value CAGR, from 2016 to 2020. As of 2021, value sales are anticipated to touch US$ 15.2 Bn. During the pandemic crisis, sales initially dipped, as closure of manufacturing facilities led to cessation of production operations. Eventually, as the incidence waned, the disequilibrium was restored. Furthermore, consumers began to indulge in physically demanding activities to boost their immunity.
Manufacturers are revamping sports drinks to meet sugar content, flavor, protein, and nutrition demand. Meanwhile, they are also focusing on using natural and organic ingredients in sports drinks. Sports drinks manufacturers are investing in research of ingredients that help the final formula to achieve its purpose of rehydration. Hence, new formulation methods in sports drinks are gaining traction globally.
Key Takeaways from the Market Study
- Global market for sports drinks to expand nearly 1.7x until 2031
- North American sports drinks market projected to reach nearly US$ 9.7 Bn in value by 2031
- Asia to account for 55% of global demand for sports drinks from 2021-2031
- Isotonic sports drinks to surpass US$ 11.7 Bn in value by 2022, capturing 40% demand by 2031
- Recovery and during exercise drinks collectively account for over 3/4th revenue
- Modern trade is expected to be the largest, reaching a value of US$ 8.7 Bn by 2031
“Increased emphasis on boosting physical fitness amongst individuals is prompting a shift in dietary patterns globally, with preference for endurance and performance enhancements taking precedence and fueling consumption of sports drinks”, says the Fact.MR analyst.
Some of the major players in the market include The Coca-Cola Company, Abbott Laboratories, Monster Beverage Corp, Suntory Beverage & Food Ltd., Red Bull GmbH, Dr Pepper Snapple Group Inc., GlaxoSmithKline Plc., GNC Holdings Inc., Pepsico Inc., PacificHealth Laboratories Inc., Nestlé S.A, among others.
- In March 2021, GoodSport Nutrition, a Rosemont, Ill.-based startup, announced the launch of GoodSport — a sports drink that is 97% dairy and aims to compete nationally against leading brands. The product is announced to be available on Amazon.com and www.goodsport.com
- In January 2020, Coca-Cola announced the expansion of its sports drink portfolio- POWERADE is expanding its product platforms for the first time in over a decade with two new zero-sugar innovations that offer functional hydration solutions – plus a new packaging design – all to meet the fast-changing needs of sport drink consumers.
More Insights Available
In its latest report, Fact.MR offers an unbiased analysis of the sports drink market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.
The study divulges compelling insights on the sports drink market on the basis of product type (isotonic, hypertonic and hypotonic), consumption type (pre-exercise sports drinks (PRX), during exercise sports drinks and recovery drinks) and distribution channel (modern trade, drug stores, convenience store, e-commerce and other retail format), across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
Fact.MR’s Domain Knowledge in Food & Beverages
Our food and beverages consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the food and beverages sector. Our expertise in recognizing the challenges and trends impacting the global food and beverages industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
For more information, refer to our market research report or contact the PR author.
Sr. Consultant – Food and Beverages