The sports drink market is anticipated to grow at a CAGR of 8.50% from US$29.411 billion in 2022 to US$52.069 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, March 7, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the sports drink market is projected to grow at a CAGR of 8.50% between 2022 and 2029 to reach US$52.069 billion by 2029.

One of the key growth drivers to propel the sports drink market during the forecasted period is the increasing growth of retail sales and the increasing number of sports events worldwide. One of the major growth drivers of the sports drinks market is the sports industry. The number of sports events being held globally directly drives the growth of the retail sales of sports drinks in the market. Sports drinks are known to provide a wide range of benefits, which include enhanced energy, endurance and stamina. Therefore, the increasing number of sports events worldwide will drive the growth of the sports drink market. For instance, as per the India Brand Equity Foundation, the Indian sports goods industry accounted for an estimated value of US$3.9 billion in 2020-21, which is further expected to increase to reach US$6.6 billion by 2027. The goods include sports equipment, food and beverage products such as sports drinks, and many others. The increasing growth of the sports goods industry is linked to the increasing growth of sports events held, further increasing the popularity and sales of sports drinks in the market.

There are many product launches and developments that are taking place in the sports drink market during the forecasted period. For instance, in November 2021, The Coca-Cola Company announced the full acquisition of BODYARMOUR, a company that is known for its sports performance and hydration beverages and is incremental to the Coca-Cola beverage portfolio further increasing the potential for the long-term growth of the company.

Access sample report or view details: https://www.knowledge-sourcing.com/report/sports-drink-market

The sports drink market, based on type, is categorized into three types- hypotonic, isotonic, and hypertonic. Hypotonic has a lower concentration of fluid, sugar, and salt substances than blood, whereas hypertonic has a higher concentration of fluid, sugar, and salt substances than blood. Isotonic has a similar concentration of fluid, sugar, and salt substances as blood.

The sports drink market, based on age group, is categorized into three types- below 20 years, 20-40 years, and above 40 years. Sports drinks are commonly used by people who are aged 40 and below, due to the efficiency and effectiveness of sports drinks on young adults and adults.

The sports drink market, based on packaging, is categorized into two types- pet bottles, and cans. Sports drinks come in bottles and cans but come in bottles in the majority of the retail outlets.

The sports drink market, based on distribution channels, is categorized into two types- online, and offline. Due to the increase in e-commerce sales during the current period, it will be expected to display an increase in growth during the forecasted period.

The North American region is expected to witness significant growth in the sports drink market during the forecasted period. The factor that affects the market is the increasing growth of e-commerce sales in the United States, which further increases the growth in sales of sports drinks in the market. As per the Census Bureau of the Department of Commerce in the United States, the total retail sales in the fourth quarter of 2023 accounted for an estimated US$1,831.4 billion, which is an increase of 0.4% from the third quarter. The growth in sales is due to the increase in ecommerce sales in the United States, which accounted for 15.6% of the total sales in the country. The relevance of retail and ecommerce drives the growth of all varieties of sports drinks in the market, further increasing the regional growth during the forecasted period.

The research includes several key players from the sports drink market, such as PepsiCo Inc., The Coca-Cola Company, Danone S.A., SoBe, Steric Trading Pty Ltd, Britvic PLC, Otsuka Pharmaceutical Co., Ltd. (Otsuka Holdings Co. Ltd.), Lucozade Ribena Suntory, and Fraser and Neave, Limited (TCC Assets Limited).

The market analytics report segments the sports drink market using the following criteria:

• By Type:

o Hypotonic
o Isotonic
o Hypertonic

• By Age Group:

o Below 20 years
o 20-40 years
o Above 40 years

• By Packaging:

o Pet Bottles
o Cans

• By Distribution Channel:

o Online
o Offline

• By Geography:

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• UK
• Germany
• France
• Spain
• Italy
• Others

o Middle East and Africa

• Saudi Arabia
• South Africa
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Thailand
• Taiwan
• Indonesia
• Others

Companies Mentioned:

• PepsiCo Inc.
• The Coca-Cola Company
• SoBe
• Danone S.A.
• Britvic PLC
• Steric Trading Pty Ltd
• Lucozade Ribena Suntory
• Otsuka Pharmaceutical Co., Ltd. (Otsuka Holdings Co. Ltd.)
• Fraser and Neave, Limited (TCC Assets Limited)

Explore More Reports:

• Global Beauty Drinks Market: https://www.knowledge-sourcing.com/report/global-beauty-drinks-market
• Global Energy Drink Market: https://www.knowledge-sourcing.com/report/global-energy-drink-market
• Soft Drinks Market: https://www.knowledge-sourcing.com/report/sports-drink-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
email us here
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