Global Energy & Sports Drink Market Overview, 2023-28

Global Energy & Sports Drink Market Overview, 2023-28

The global energy and sports drink market is a dynamic and rapidly growing industry that caters to the increasing demand for beverages that provide energy, hydration, and performance benefits. The global energy and sports drink market has experienced substantial growth over the years. It is a multi-billion-dollar industry, and the market size is projected to continue expanding. The energy and sports drink market is prominent worldwide, with key markets in North America, Europe, Asia Pacific, the Middle East, and Africa. North America and Europe have traditionally been strong markets, while emerging economies in Asia Pacific and Latin America are experiencing rapid growth. The growth of the global energy and sports drink market is driven by several factors. These include increasing health consciousness, rising disposable incomes, changing consumer lifestyles, the influence of Western beverage trends, growing sports participation, and the rise of the fitness and wellness industries. The global sports and fitness industry is experiencing significant growth, with more people engaging in various sports activities and fitness routines. This trend creates a demand for beverages that can support hydration, provide energy, and aid in recovery. Energy and sports drink companies can capitalise on this opportunity by developing products tailored to specific sports and fitness needs. While established markets like North America and Europe are significant, there are untapped opportunities in emerging markets such as Asia Pacific, Latin America, and Africa. These regions have large populations, increasing disposable incomes, and a growing interest in health and fitness. Companies can expand their presence in these markets and customise their offerings to cater to local tastes and preferences.

According to the research report, ""Global Energy & Sport Drink Market Overview, 2023–28,"" published by Bonafide Research, the market is anticipated to cross USD 123.71 Billion, increasing from USD 87.67 Billion in 2022. The market is expected to grow at a CAGR of 6.01% by 2023–2028. The rising awareness among individuals about the impact of rehydration immediately after an intense workout is increasing the sales of sports and energy drinks. Along with this, rising consumer expenditure on lifestyle and fitness activities is driving the demand for these products, which is offering lucrative growth opportunities to manufacturers. In today's fast-paced world, people often face busy schedules and high levels of stress. Energy drinks, in particular, are sought-after for their ability to provide a quick energy boost and combat fatigue. The convenience and portability of energy and sports drinks make them popular choices for those on the go or needing an energy boost during the day. Advances in beverage technology have allowed for the development of improved formulations, flavours, and delivery systems for energy and sports drinks. This includes the incorporation of functional ingredients, such as vitamins, minerals, amino acids, and herbal extracts, to enhance performance and provide additional health benefits. Constant innovation in the taste and ingredients of sports and energy drinks is anticipated to positively impact industry growth. With the advancement of technology, personalised nutrition is gaining popularity. Energy and sports drink manufacturers are utilising data analytics, artificial intelligence, and machine learning algorithms to provide personalised formulations based on individual needs, activity levels, and health goals. Based on the product type, which includes energy drinks and sports drinks, at the global level, energy drinks have the highest market share. There is a growing consumer demand for beverages that provide a quick energy boost and combat fatigue. Energy drinks offer a convenient and accessible solution for individuals seeking an immediate pick-me-up, especially in fast-paced and demanding lifestyles.

Based on the types of energy drink products, which include non-alcoholic and alcoholic, at the global level, the non-alcoholic has the largest market share due to rising health consciousness among consumers, which is the key driver for market growth. Globally, most consumers are shifting towards low- and non-alcoholic beverages as they want to live a healthy life and explore booze-free drinks. Thus, manufacturers are exploring this segment and launching new versions of the drinks. Non-alcoholic drinks have a broader consumer appeal compared to alcoholic beverages. They can be consumed by individuals of all age groups, including children, pregnant women, and individuals who abstain from alcohol due to personal, cultural, or religious reasons. This wider consumer base contributes to the larger market share of non-alcoholic drinks. Drinking patterns are evolving globally, with many individuals opting for moderation or reduced alcohol consumption. This shift in drinking habits has created a market opportunity for non-alcoholic energy drinks, leading to a larger market share. Based on the energy drink types, which include organic and non-organic types, at the global level, the non-organic types are leading the market. Based on the distribution channel, it includes the hypermarket or supermarket, on-trade, online, and convenience stores. Hypermarkets and supermarkets are leading the global energy and sports drink market.

Based on the sport drink types, which include isotonic, hypotonic, and hypertonic, at the global level, the isotonic segment is leading the market. Isotonic sport drinks are formulated to provide optimal hydration and replenish electrolytes lost during physical activities. They contain a balanced combination of water, carbohydrates, and electrolytes, such as sodium, potassium, and magnesium, which help maintain fluid balance and support proper muscle function. Isotonic sports drinks are available in ready-to-drink formats, making them convenient for athletes and individuals engaged in physical activities. They can be easily carried and consumed during workouts, sports events, or on-the-go, providing a quick and easily digestible source of hydration and energy. Based on the packaging types, which include bottles and canes, bottle-type packaging is leading the market. Bottle packaging offers convenience and portability, making it easy for consumers to carry energy and sports drinks with them wherever they go. Bottles are lightweight, compact, and often come with resealable caps, allowing consumers to consume the beverage at their own pace and store it for later use. Many bottle packaging materials, such as PET (polyethylene terephthalate), are recyclable. This aligns with the increasing consumer demand for sustainable and environmentally friendly packaging options. Bottle manufacturers and energy drink companies are also taking steps to incorporate recycled materials and promote recycling initiatives, contributing to a more sustainable packaging solution.

There are several opportunities and constraints for the energy and sports drink markets at the global level. There is increasing scrutiny of the health effects of energy drinks, particularly related to their high caffeine content and potential adverse health outcomes. Regulatory authorities in different countries are implementing stricter regulations, such as age restrictions, labelling requirements, and caffeine limits, which may impact the marketing and sales of energy drinks. The global energy and sports drink market is highly competitive, with several established players and new entrants constantly vying for market share. This can create challenges for smaller or newer companies trying to gain visibility and establish their presence. Consumers in some markets may be price-sensitive when it comes to energy and sports drinks, leading to competition based on pricing strategies. Maintaining profitability while offering competitive pricing can be a challenge for manufacturers. As well as the many opportunities present at the global level, Collaborating with sports teams, athletes, and sporting events can provide opportunities for brand visibility, marketing, and association with an active and healthy lifestyle. There is an opportunity for energy and sports drink companies to innovate and diversify their product offerings to meet the evolving needs and preferences of consumers. This can include new flavours, formats, packaging options, and functional enhancements.

 
Considered in this report

• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Global Energy & Sport Drink market with its value and forecast along with its segments
• Region-wise Energy & Sport Drink market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report:

• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)

By Product types

• Energy Drink
• Sport Drink

By Distribution channel

• Supermarket/Hypermarket
• Convenience Stores
• On-Trade
• Online

By Energy Drink Product Type

• Non-Alcoholic
• Alcoholic

By Energy Drink Types

• Non-Organic/ Conventional
• Organic

By Sport Drink Products types

• Isotonic
• Hypotonic
• Hypertonic

By Sport Drink Packaging Type

• Bottle
• Cans

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Smart Lighting industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.



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