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.
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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.
Key Segments Covered
- Pre-exercise Sports Drinks (PRX)
- During Exercise Sports Drinks
- Recovery Drinks
- Modern Trade
- Drug Stores
- Convenience Store
- Other Retail Format
Key players involved in the market are rigorously investing in the development and launches of new products to gain a competitive advantage and expand their consumer base. Mergers & acquisitions along with diversification of product portfolios are key business strategies implemented by participants in the sports drink industry.
- In October 2020, Monster Energy launched a new sports focused drink titled Superfuel. This line of beverages are suitable for pre-workout power consumption, mid-session sip or post-workout pick up. It possesses electrolytes for general wellness and B3+B6 Vitamins to aid focus and exercise recovery.
- 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.