Sports Drink Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Sports Drink Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The global sports drink market is projected to witness a CAGR of 4.45% during the forecast period (2022-2027).

The effects of COVID-19 continue to ripple through the world’s sports ecosystem. This is because, for the majority of 2020, there were high restrictions imposed on any form of sports/outdoor activity. Moreover, several leagues, tournaments, and even Olympic games were postponed eyeing the fretfulness of the situation, which restricted the sports and gaming activities, which certainly showed a negative effect on the sales revenues of sports drinks as well. However, as the situation moves towards the betterment of the situation, and sports activities are continued for professionals and the population as well, the sports drinks market is expected to form a recovery curve during the forecast period.

With the rising health concerns, there is an increased demand for nutrition-filled, low-calorie sports drinks made from natural ingredients, such as stevia and other sugar alternatives. For instance, PepsiCo Inc. launched a zero-sugar variant of Gatorade named ‘G-Zero’ to attract health-conscious consumers. The products are available in flavors such as lemon-Lime, Orange, and Glacier Cherry.

Sports Drink Market TrendsImproved Athletic Performance

The market for functional beverages is increasing at a fast rate, as consumers are paying more attention to staying healthy. In the developed markets, beverages are no longer viewed solely as a quick refreshment. However, they have become more convenient nutrient and food supplement products. The region is strongly influenced by consumer focus on protein, wellness, natural, and ‘free from’ trends. Consumers are aware of the benefits of sports drinks as it acts as refueling energy and hydrating the body after or before any kind of exercise or sports activities. The consumer segments driving the growth of the market include aging consumers looking for vitality, millennials who are willing to try new products with wellness benefits, and busy consumers seeking ‘quick health’.

North America Leading the Market

The sports drinks market is lifestyle-driven. The increasing concerns about physical well-being and leading a healthy lifestyle is a major growth driver for the sports drink market. The increasing number of the population involved in various sports activities and other fitness activities is the major driver for the market for sports drink in United States, thus driving the North American market.​

North America stands on top among regional sales, followed by Europe. But the increasing fitness trend is catching up with other regions as well and driving sales numbers for the markets. The Asia-Pacific sports drink market is expected to surge, owing to an increasing percentage of urbanization and growth in the number of fitness centers across countries like India and China. The surging demand for natural sweeteners is also expected to drive the growth of the sports drink market in Asia-Pacific, owing to the no or low content of calories in the sweeteners used in the tailoring of the sports drink by the manufacturers in the region.

Sports Drink Market Competitive Analysis

The sports drink market is highly competitive, with PepsiCo Inc. and the Coca-Cola Company holding significant shares, among others. The key strategies adopted by the players in the market are expansions, innovations, and new product launches to maintain competitiveness in the market. The companies have been introducing new and innovative products with the inclusion of naturally derived ingredients and additives to make their product unique from the existing products.

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• The market estimate (ME) sheet in Excel format
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