Sports Drink Market - Forecasts from 2024 to 2029

Sports Drink Market - Forecasts from 2024 to 2029

The sports drink market is projected to grow at a CAGR of 8.50% over the forecast period, increasing from US$29.411 billion in 2022 to reach US$52.069 billion by 2029.

Sports drinks are functional drinks specifically designed to help athletes and other active people hydrate before, during, and after exercise (source: British Soft Drinks Association). Sports drinks are widely available and are preferred among athletes as they contain water and electrolytes like sodium and potassium, which provide replenishment when the body loses water and electrolytes after a heavy workout or sports activity. Growing health awareness, including the importance of hydration in the human body, is one of the major drivers driving the global sports drink market growth. However, concerns regarding the excessive intake of sports drinks leading to the possibility of tooth erosion may have a significant impact on restraining the market growth among the end-users.

MARKET DRIVERS:

Increasing number of sports events.

The number of sports events has been increasing globally as there has been increasing investment in the sports industry over the years. The number of sports events that are being broadcast has also risen dramatically and is expected to increase even more, which is compelling the market players to invest more in the sports industry during the forecast period. Furthermore, due to the increasing number of sports events, there is increasing investment in sports drinks by major market players in the form of promotions and new product launches, which is further anticipated to propel the market growth opportunities in the coming years.

Furthermore, the sports industry in Japan is growing at a good pace, and the government and private players are increasingly focusing on expanding sporting activity and infrastructure in the country and also promoting Japanese sports overseas. This rise in the sports industry is expected to increase demand for sports drinks, hence augmenting the market growth.

Rise in retail businesses.

In recent years, convenience and department stores with supermarkets have witnessed an increase in sales. The development and growth of convenience stores and other retail businesses are directly related to economic growth and the speed of urbanization which are projected to propel the market over the forecast period. Besides, with the growing number of smartphone users, time spent on the internet has also increased, driving the growth of e-commerce platforms, which is also expanding the scope of distribution of sports drinks.

The North American sports drink market is anticipated to grow significantly.

By geography, the sports drink market is segmented as North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The North American market is expected to hold a significant share of the market owing to the presence of major players coupled with the growing number of product launches in countries like Canada and the United States. In addition, a growing health-conscious population coupled with changing lifestyles are the factors boosting the demand for the product, and the rising availability of a variety of flavors is further expected to drive the market in the region.

Furthermore, the Asia Pacific region holds huge growth potential due to the presence of a significant young population. The good growth of the sports industry in countries like China and Japan is playing an important role in the burgeoning demand for sports drinks. The region is also expected to hold major sports events in the coming years, which is further boosting the demand for sports drinks. Growing consumer awareness regarding the health benefits of sports drinks coupled with the product development of organic sports drinks has also triggered market growth opportunities in the region over the forecast period. Additionally, rising disposable incomes and living standards are encouraging Chinese and Indians to adopt the Western lifestyle.

Key Developments:

In September 2023, BODYARMOR Sports Nutrition announced that it would be expanding and distributing its premium sports drink products overseas for the first time in the brand's history. BODYARMOR will be accessible throughout all of Canada starting in January 2024, including major cities like Toronto, Montreal, Ottawa, Vancouver, Calgary, and Edmonton.

Segmentation:

By Type
Hypotonic
Isotonic
Hypertonic
By Age group
Below 20 years
20-40 years
Above 40 years
By Packaging
Pet Bottles
Cans
By Distribution Channel
Online
Offline
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
UK
Germany
France
Spain
Italy
Others
Middle East and Africa
Saudi Arabia
South Africa
Others
Asia Pacific
Japan
China
India
South Korea
Thailand
Taiwan
Indonesia
Others