Global Sports Drink Market to Surpass Valuation of $32.89 Billion by 2030, with North America Dominating the Market as Demand for Sports Drinks with Natural Ingredients Increases, States Kings Research

DUBAI, UAE, Feb. 8, 2024 /PRNewswire/ -- As per the latest report published by Kings Research, the global Sports Drink Market registered a valuation of USD 22.71 billion in 2022 and is estimated to reach USD 32.89 billion by 2030, depicting steady growth at a 4.84% CAGR from 2023 to 2030. The sports drink market has exhibited consistent growth recently, propelled by heightened consumer awareness of health and fitness. Concerns regarding added sugars and artificial components in beverages have prompted a shift in consumer preferences toward healthier, natural alternatives. As a result, companies within the sports drink market are introducing new products with reduced sugar content and natural ingredients to address this evolving demand. This shift in consumer behavior has prompted the industry to adapt and innovate, resulting in a more diverse and competitive sports drink market.

A sports drink is a specialized beverage designed for athletes and individuals participating in physical activities. Primarily aimed at aiding hydration, these drinks serve to replace lost fluids, replenish vital electrolytes such as sodium and potassium, and offer a rapid energy source through carbohydrates. Typically consumed during prolonged or high-intensity exercises, sports drinks play a crucial role in sustaining performance levels and preventing dehydration.

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Competitive Landscape

Key companies operating in the global sports drink market are focusing on collaborations to gain a strong standing in the competitive landscape. For instance, in December 2022, Abbott Nutrition announced its expansion plans, selecting Bowling Green, Ohio, as the location for its upcoming facility dedicated to the production of metabolic powder nutritional products. The facility was designed to address the dietary requirements and specialized nutritional needs of individuals.

Key players profiled in the sports drink market include:

• The Coca-Cola Company
• Abbott Nutrition
• GlaxoSmithKline plc
• Hormel Foods Corporation
• BioSteel Sports Nutrition Inc.
• Bodylogix
• Kraft Heinz Company
• Molson Coors Beverage Company
• Xyience, Inc.
• ROAR Beverage Company

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Trending Now: BODYARMOR Sports Drink Expands to Canada with Toronto Blue Jays' Vladimir Guerrero Jr. as New Athlete Partner

In January 2024, BODYARMOR Sports Drink extended its reach to Canada, concurrently revealing Toronto Blue Jays' Vladimir Guerrero Jr. as its latest athlete partner. Guerrero Jr. joined a distinguished lineup of athletes endorsing BODYARMOR. This strategic partnership was aimed at strengthening the brand's presence in the Canadian market, with a particular focus on key cities such as Toronto, Montreal, Ottawa, Vancouver, Calgary, and Edmonton. The collaboration involves comprehensive national marketing campaigns, retail events, advertising, and digital activations featuring prominent athletes.

Popularity of Hypotonic Drinks to Fuel Sports Drink Market Progress

Based on product type, the global sports drink market is bifurcated into hypotonic, isotonic, and hypertonic.

The hypotonic segment is anticipated to lead the market by accruing USD 15.16 billion by 2030. The preference of athletes and individuals involved in high-intensity workouts drives the popularity of hypotonic drinks in market research, as these beverages are specifically formulated to rapidly replenish fluids and electrolytes lost during exercise. Additionally, the growing emphasis on fitness and wellness among consumers is driving the demand for hypotonic sports drinks. With advancements in research and development, manufacturers are continually introducing innovative flavors and formulations to cater to the evolving preferences of athletes and health-conscious individuals, further contributing to the dominance of the segment.

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Increasing Demand for Pet Bottles' Convenience to Spur Sports Drink Product Sales

Based on packaging type, the sports drink market is bifurcated into PET bottles & cans.

The PET bottles segment dominated the global sports drink market in 2022 and is estimated to grow at a 5.67% CAGR between 2023 and 2030. This segmental growth is primarily driven by the increasing demand for convenience and portability among consumers. This preference is due to the lightweight nature of PET bottles, which makes them easy to carry and a convenient option for on-the-go consumption. Furthermore, the rising awareness of the environmental impact of packaging materials has prompted a shift toward PET bottles, given their recyclability and lower carbon footprint compared to alternative packaging materials. Consequently, the PET bottles segment is anticipated to experience significant growth in the sports drink market in the upcoming years.

Increasing Demand for Sports Drinks with Natural Ingredients to Bolster Market Growth

The sports drink market is witnessing a notable shift as consumers increasingly seek beverages with natural and clean-label ingredients. This preference for a more transparent ingredient list, devoid of artificial additives, sweeteners, and colors, is driving sports drink companies to reevaluate and reformulate their products. Key ingredients like natural fruit extracts, coconut water, and plant-based electrolytes are becoming focal points of this reformulation trend, aligning with the rising demand for cleaner and more natural beverage options.

Additionally, companies in the sports drink sector are responding to the growing eco-consciousness among consumers. A distinct emphasis is placed on adopting sustainable packaging solutions to address environmental concerns. This strategic move reflects a broader industry acknowledgment of the impact of packaging materials on the environment and aims to meet the preferences of consumers who prioritize eco-friendly choices. As the market continues to evolve, the convergence of these factors is reshaping consumer expectations and influencing the trajectory of the sports drink industry.

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Rising Demand for Healthy and Functional Beverages in North America to Augment Sports Drink Market Expansion

North America is anticipated to experience a substantial market value of USD 11.23 billion by 2030 due to the rising demand for healthy and functional beverages among fitness enthusiasts. The region benefits from a well-established sports culture and an increasing population of health-conscious individuals, which is boosting the demand for sports drinks. Furthermore, the market's stronghold is reinforced by the presence of key industry players actively engaging in innovation, introducing new flavors, and formulating novel products.

Rising Health Consciousness among Consumers in APAC to Support Market Revenue

The Asia Pacific sports drink market is poised to witness substantial growth in the coming years, accounting for revenue of USD 8.53 billion by 2030. This growth is propelled by the rising health consciousness among consumers and the increasing popularity of sports and fitness activities in the region. The growing disposable income of the middle-class population, particularly in countries like China and India, is a key driver for the heightened demand for sports drinks. Moreover, there is a noticeable trend in the market toward natural and organic sports drinks, reflecting consumers' increasing awareness and focus on the quality of ingredients and additives in these beverages.

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Key Points from TOC:

1 Introduction of the Global Sports Drink Market

1.1 Market Definition

1.2 Market Segmentation

1.3 Research Timelines

1.4 Limitations

1.5 Assumptions

2 Executive Summary

3 Research Methodology

3.1 Data Collection

3.1.1 Secondary Sources

3.1.2 Primary Sources

3.1.3 Research Flow

3.2 Subject Matter Expert Advice

3.3 Quality Check

3.4 Final Review

3.5 Bottom-Up Approach

3.6 Top-down Approach

4 Global Sports Drink Market Outlook

4.1 Market Evolution

4.2 Overview

4.3 Market Dynamics

4.3.1 Drivers

4.3.2 Restraints

4.3.3 Opportunities

4.3.4 Challenges

4.4 Pricing Analysis

4.5 Porter's Five Forces Analysis

4.6 Value Chain Analysis

4.7 Macroeconomic Analysis

5 Impact of Russia-Ukraine War

6 Global Sports Drink Market, By Product Type

7 Global Sports Drink Market, By Form

8 Global Sports Drink Market, By Packaging Type

9 Global Sports Drink Market, By Sales Channel

10 Global Sports Drink Market, By Geography

11 North America

12 Europe

13 Asia Pacific

14 Middle East & Africa

15 Latin America

16 Global Sports Drink Market Competitive Landscape

16.1 Overview

16.2 Key Developments

16.3 Key Strategic Developments

16.4 Company Market Ranking

16.5 Regional Footprint

16.6 Industry Footprint

17 Company Profiles

17.1 The Coca-Cola Company

17.1.1 Key Facts

17.1.2 Financial Overview

17.1.3 Product Benchmarking

17.1.4 Recent Developments

17.1.5 Winning Imperatives

17.1.6 Current Focus & Strategies

17.1.7 Threat from competition

17.1.8 SWOT Analysis

17.2 Abbott Nutrition

17.2.1 Key Facts

17.2.2 Financial Overview

17.2.3 Product Benchmarking

17.2.4 Recent Developments

17.2.5 Winning Imperatives

17.2.6 Current Focus & Strategies

17.2.7 Threat from competition

17.2.8 SWOT Analysis

17.3 GlaxoSmithKline plc

17.3.1 Key Facts

17.3.2 Financial Overview

17.3.3 Product Benchmarking

17.3.4 Recent Developments

17.3.5 Winning Imperatives

17.3.6 Current Focus & Strategies

17.3.7 Threat from competition

17.3.8 SWOT Analysis

17.4 Hormel Foods Corporation

17.4.1 Key Facts

17.4.2 Financial Overview

17.4.3 Product Benchmarking

17.4.4 Recent Developments

17.4.5 Winning Imperatives

17.4.6 Current Focus & Strategies

17.4.7 Threat from competition

17.4.8 SWOT Analysis

17.5 BioSteel Sports Nutrition Inc

17.5.1 Key Facts

17.5.2 Financial Overview

17.5.3 Product Benchmarking

17.5.4 Recent Developments

17.5.5 Winning Imperatives

17.5.6 Current Focus & Strategies

17.5.7 Threat from competition

17.5.8 SWOT Analysis

Continued…………

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