Food and Beverages

Sports Drink Market is Expected to Reach USD 32.89 Billion by 2030

Jun 2024

Food and Beverages

As per the report published by Kings Research, the global Sports Drink Market was valued at USD 22.71 billion in 2022 and is projected to reach USD 32.89 billion by 2030, growing at a CAGR of 4.84% from 2023 to 2030.

Increasing awareness of the importance of physical fitness and a healthy lifestyle has driven the demand for sports drinks as a convenient way to restore fluids and electrolytes during and after exercise. Sports drinks have gained popularity among athletes and fitness enthusiasts due to their ability to provide a quick energy boost, enhance endurance, and aid in recovery. These beverages contain a balanced combination of carbohydrates, electrolytes, and fluids, making them ideal for restoring the nutrients lost through sweat. Moreover, their availability in various flavors and sizes caters to individual preferences and convenience, further contributing to their surging demand in the market.

Additionally, sports drinks are often formulated with essential vitamins and minerals, which can help support overall health and well-being. Their composition enables swift absorption by the body, facilitating rapid restoration of energy reserves for athletes engaged in rigorous training sessions or competitive events. Furthermore, the convenient packaging and portability of sports drinks make them a convenient option for athletes to carry and consume on-the-go, making them an essential part of their training and performance routine.

Key Insights

  • Based on product type, the hypotonic segment is anticipated to dominate the market with a 48.66% share in 2023.
  • Based on form, the liquid segment is expected to grow at a CAGR of 7.06% over 2023-2030.
  • Based on packaging type, PET bottles are expected to garner a significant market share of 58.60% in 2023.
  • Based on sales channel, the online retailer segment is expected to grow at a CAGR of 7.77% from 2023 to 2030.
  • On the basis of region, Asia-Pacific is expected to expand significantly at a CAGR of 7.03% over 2023-2030.

Molson Coors Beverage Expanding its Partnership in Order to Strengthen its Business

September 2023 (Partnership): Molson Coors Beverage Company inked an agreement to enhance its collaboration with ZOA Energy, a prominent brand in the energy drink industry. The partnership has been a focus for Molson Coors since 2019 as it strives to diversify its offerings beyond the realm of beer and transform into a comprehensive beverage company. This increased investment in ZOA Energy reflects Molson Coors' commitment to expanding its presence in the non-alcoholic beverage market.

Increasing Focus on Health & Wellness to Foster Market Outlook

Consumers are increasingly seeking products that align with health and wellness goals, leading to the incorporation of functional ingredients and lower-calorie options in sports drink formulations. As a result, sports drink companies have started to prioritize the inclusion of electrolytes, vitamins, and antioxidants to enhance the nutritional value of their products. Additionally, they have introduced sugar-free or low-sugar variations to cater to consumers who are conscious of their calorie intake. This shift toward healthier options demonstrates a growing awareness among consumers about the importance of maintaining a balanced and nutritious lifestyle, even in their choice of sports drinks.

Growing Demand for Natural & Clean Ingredients to Drive Market Growth

There's a growing demand for sports drinks made with natural and clean ingredients, including those with no artificial flavors, colors, or sweeteners. Brands are moving away from high sugar content to appeal to health-conscious consumers. Consumers are increasingly looking for sports drinks that provide hydration without compromising their dietary goals. This shift in consumer preferences has led many brands to develop innovative formulations using natural sweeteners like stevia or monk fruit extract. In addition, incorporating real fruit juices and electrolytes sourced from natural minerals has become a popular strategy to enhance both the taste and nutritional value of these sports drinks.

North America to Dominate Sports Drink Market with a CAGR of 3.26% through 2030

Based on regional analysis, the global sports drink market is classified into North America, Europe, Asia Pacific, MEA, and Latin America. North America dominated the regional share with 38.47% share in 2022.  

This can be attributed to the high consumption of sports drinks among athletes and fitness enthusiasts in the region. The increasing health consciousness and growing participation in sports activities are driving the demand for these beverages. Additionally, the presence of prominent manufacturers and extensive marketing strategies adopted by key market players have contributed to North America's dominance in the sports drink market.

Companies Focus On Product Launches and Collaborations to Fulfill Consumer Demands

The global sports drink market study is consolidated with key players such as The Coca-Cola Company, Abbott Nutrition, GlaxoSmithKline plc, Hormel Foods Corporation, BioSteel Sports Nutrition Inc., Bodylogix, ROAR Beverage Company, Kraft Heinz Company, Molson Coors Beverage Company, and Xyience, Inc. Companies are employing a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to extend their consumer reach and enhance their competitive position.

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