The Europe sports drink market was valued at USD 1,867.0 million for the current year and is projected to register a CAGR of 5.14% over the next five years.
Due to the rising awareness about health and wellness and the increasing prevalence of lifestyle medical conditions like obesity and diabetes, individuals indulge in physical body workouts to keep themselves active and fit. This, in turn, drives the demand for sports drinks to replenish glucose, fluids, and electrolytes lost during strenuous exercise and enhance endurance. According to a survey by the Ministry of Education, Culture, and Sport, in 2022, more than one-quarter of male respondents reported having practiced some sports daily, while approximately 21% of female respondents said the same.
Another main factor behind the significant market growth is the booming fitness industry. In 2022, a survey conducted by the Ministry of Education, Culture and Sport in Spain revealed that 19.8% of men and 21.3% of women were members of gyms. Meanwhile, 16.9% of male respondents reported being members of sports clubs, with a lower membership rate among women. Across all age groups in Spain, gym memberships had a more extensive penetration than sports clubs that year. Apart from this, prominent players are adopting innovative approaches, such as combining functional ingredients with natural flavors like turmeric, ginger, and honey, to make the products appealing and exciting to consumers. Such innovations will likely influence the demand for sports drinks in the country and contribute to the overall market growth in Europe.
The Europe sports drink market is highly competitive, with the presence of numerous players. The prominent companies in the region include The Coca-Cola Company, PepsiCo Inc., Suntory Holdings Limited, Oshee Polska Sp zoo, and Associated British Food PLC. The key strategies adopted by the major players are product development, innovative marketing campaigns, and mergers and acquisitions. Besides this, advanced distribution networks and manufacturing expertise give an upper edge to the manufacturers to expand their range of products worldwide.
Moreover, the companies have focused on continuous expansion to achieve a competitive advantage in the market and expand their geographical presence and customer base. Also, brands are differentiating their products in terms of design (size and weight), quality, and innovation to gain a competitive advantage.
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