Global Sports Drinks Market Analysis 2024: Trends, Growth, And Forecasts
Sports Drinks Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON , UK, June 24, 2024 /EINPresswire.com/ -- The sports drinks market refers to beverages designed to replenish fluids, electrolytes, and carbohydrates lost during intense physical activity. These drinks typically contain water, sugar, electrolytes (such as sodium and potassium), and sometimes vitamins or other nutrients. Their primary aim is to hydrate, provide energy, and support muscle function during exercise.
Market Size and Growth
The sports drinks market size has grown strongly in recent years. It will grow from $22.87 billion in 2023 to $24.23 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to the rise in globalization, focus on health and wellness, demand for functional beverages, functional ingredients, and increased health consciousness.
The market is expected to see strong growth in the next few years, reaching $30.92 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. This growth is driven by increasing demand for zero-sugar sports drinks, growing popularity of sports and fitness activities, increasing participation in organized sports, athletic events, and expansion of fitness centers and gyms.
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Sports Drinks Market Key Players and Market Trends
Major companies operating in the sports drinks market include Nestle SA, PepsiCo Inc, Abbott Laboratories, The Coca-Cola Company, GlaxoSmithKline plc, and more. These companies focus on developing advanced products with technologies like ION4 to enhance hydration, replenish electrolytes, and improve performance for athletes and fitness enthusiasts.
For instance, in September 2023, The Coca-Cola Company launched the Limca Sportz ION4 sports drink in India, formulated with innovative ION4 technology. This technology supports rapid fluid intake and contains essential minerals to cater to the hydration and energy needs of athletes.
Sports Drinks Market Segments
• Soft Drink Type: Electrolyte-Enhanced Water, Hypertonic, Hypotonic, Isotonic, Protein-Based Sport Drinks
• Ingredient: Citric Acid, Flavors And Preservatives, Salts And Electrolytes, Carbohydrates, Vitamins, Other Ingredients
• Packaging Type: Aseptic Packages, Metal Can, Polyethylene Terephthalate (PET) Bottles
• Sub Distribution Channel: Convenience Stores, Online Retail, Specialty Stores, Supermarket Or Hypermarket, Other Sub Distribution Channels
• End User: Athletes, Casual Consumers, Lifestyle User
Geographical Insights: North America Leading the Market
North America was the largest region in the sports drinks market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Sports Drinks Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Sports Drinks Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on sports drinks market size, sports drinks market drivers and trends, sports drinks market major players, competitors' revenues, market positioning, and market growth across geographies. The sports drinks market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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