The rise of health-conscious customers around the globe will subsequently support the expansion of the sports drink industry. A growing population of athletes and sports enthusiasts will also boost market expansion in the years to come.
The National Collegiate Athletic Association (NCAA) reports that there are a large number of NCAA athletes. Approximately 494,992 students competed in NCAA championship sports in 2017–18. So, increase of more than 3,000 over the previous academic year. Additionally, the increased interest among both men and women in athletic activities will boost sales of sports drinks.
For instance, the number of women’s teams climbed by 64 while the number of men’s teams increased by 62 nationwide from the previous years. There are more women’s teams than men’s since 1996-97.
According to the report, published by Fortune Business Insights, The global Sports Drink Market size is predicted to reach USD 32.61 billion by 2026, exhibiting a CAGR of 4.2% during the forecast period.
Particularly during the first six months of the epidemic. Also, lockdown restrictions and the ensuing fall in travel and tourism had a substantial impact on market growth. Consumer spending on outdoor sports has also sharply decreased under increased economic limitations. Since the epidemic began, a number of market participants have reported revenue losses.
However, the pandemic has increased the popularity of internet shopping. The COVID-19 pandemic’s persistent and extremely ambiguous nature raises the possibility that e-commerce sales of sporting goods may increase over the next years.
The research provides:
- Key growth drivers, market opportunities, market restraints, and potential obstacles.
- In-depth understanding of local developments.
- A list of important participants in the sector.
- Important tactics used by market participants.
- The most recent business mergers & acquisitions, partnerships, and product launches.
BOLT24 introduces Gatorade to promote growth
The introduction of BOLT24 was announced by American beverage and food producer Gatorade. The Bolt24, a new sports drink from the brand, has fewer calories than other electrolyte drinks and is intended for athletes to keep them hydrated all the time.
Due to the drink’s natural and organic ingredients, the company’s launch of the new beverage is anticipated to increase demand among athletes and help increase the market share for sports beverages.
In a statement, Brett O’Brien, senior vice president of Gatorade, added that the drink’s watermelon and sea salt base further set it apart from previous Gatorade offerings. He continued by saying that the new beverage would enable the business “to think about athletes in a whole different way.”
Additionally, our expert analysts at Fortune Business InsightsTM state that the growing R&D spending by key competitors for the creation of innovative sports drinks aimed at athletes will support the healthy expansion of the market.
Major Companies Operating in the Global Sports Drink Market Include:
- The Coca-Cola Company
- BA Sports Nutrition
- AJE group
- Britvic PLC.
- MyDrink Beverages
- Kraft Heinz Company
- Nestle SA
- GlaxoSmithKline plc.
- Abbott Nutrition co
Growing Sports Drink Demand Will Improve Market Prospects in North America
Because the population in the region is becoming more health concerned. So, the market in North America, which had a market value of USD 7.90 billion in 2018, is anticipated to continue to dominate over the projected period.
Consider the fact that in 2018, almost 55% of Americans led healthier lifestyles. The increasing demand for sports drinks in the US as a result of the existence of big brands like Gatorade, PowerAde. and BodyArmor will also have an impact on market trends for sports drinks in North America.
Strong demand for sports drinks is anticipated in the Asia Pacific in the near future due to increased disposable income in developing nations like India, China, and Japan.
Additionally, a growing number of health-conscious consumers will encourage businesses to release new sports drinks, which will increase the market share of each brand of sports drink.