According to the report published by Allied Market Research, the global sports drink market generated $13.7 billion in 2021, and is estimated to reach $22 billion by 2031, witnessing a CAGR of 4.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
|Market Size in 2021||$13.7 Billion|
|Market Size in 2031||$22 Billion|
|No. of Pages in Report||315|
|Segments Covered||Distribution Channel, Type, Packaging Type, Application, and Region|
|Drivers||Growing inclination of the millennial population toward physical and fitness-related activities|
|The expansion of wellness and fitness centers as well as exercise parks|
|Demand for healthier beverage alternatives|
|Rise in the number of athletes and sports persons|
|Rise in buying power of consumers|
|Opportunities||The rise in the use of social media and digital marketing to increase awareness about sports drinks and their health benefits|
|Restraints||Counterfeit and low-quality products affecting the market|
- The COVID-19 pandemic outbreak had a negative impact on the growth of the sports drink market. The demand for sports drinks declined across the globe, owing to the implementation of stringent restrictions such as social distancing and consistent lockdowns across the globe.
- The stringent lockdowns during the pandemic led to supply chain disruptions and prevented several development projects from proceeding. Also, the ban on import-export transactions and shortage of raw materials and labor impacted the building sector significantly.
- However, the market has recovered post the pandemic.
The report offers a detailed segmentation of the global sports drink market based on distribution channel, type, packaging type, application, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on distribution channel, the offline segment held the largest share in 2021, accounting for more than four-fifths of the global sports drink market, and would maintain its dominance in terms of revenue through 2031. However, the online segment is estimated to witness the fastest CAGR of 5.5% during the forecast period.
Based on type, the isotonic segment held the largest share in 2021, capturing more than two-fifths of the global sports drink market, and would lead the trail through 2031. The hypotonic segment is estimated to witness the fastest CAGR of 5.6% during the forecast period. The report also discusses the hypertonic segment.
In terms of packaging type, the PET bottles segment captured the largest market share of three-fourths of the global sports drink market in 2021 and is expected to lead the trail during the forecast period. The cans segment, on the other hand, is likely to achieve the fastest CAGR of 5.8% through 2031.
In terms of application, the athletes segment captured the largest market share of more than two-thirds of the global sports drink market in 2021 and is expected to maintain its leadership during the forecast period. The casual consumers segment is likely to achieve the fastest CAGR of 5.7% through 2031. The report also discusses the lifestyle user segment.
Based on region, the market in North America was the largest in 2021, accounting for one-third of the global sports drink market share, and is likely to maintain its leadership status during the forecast period. However, the market in LAMEA is expected to manifest the highest CAGR of 5.9% from 2022 to 2031. The other regions analyzed in the study include Asia-Pacific and Europe.
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Leading players of the global sports drink market analyzed in the research include GNC Holdings, LLC, PepsiCo, Inc., Nestle S.A., The Jel Sert Company, The Coca-Cola Company, Abbott Laboratories, Suntory Holdings Limited, Red Bull GmbH, The Kraft Heinz Company, AriZona Beverages USA, LLC, Xtreme Energy Group Ltd, PacificHealth Labs, GU Energy Labs, Monster Beverage Corporation, and Keurig Dr Pepper Inc.
The report analyzes these key players of the global sports drink market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
Source From:- https://www.globenewswire.com/en/news-release/2023/02/09/2605185/0/en/Global-Sports-Drink-Market-Is-Expected-to-Reach-22-Billion-by-2031-Allied-Market-Research.html
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