Sports Drink Market 2020 can procure a robust CAGR between 2019 and 2023 (review period), anticipates MRFR/Market Research Future. We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in Sports Drink Industry post the coronavirus disease outbreak.
Top Drivers and Deterrents
Sports drinks with added nutrients, minerals and vitamins offer certain health benefits and are therefore, gaining immense traction across countries. The growing demand of sports drinks is observed primarily among people involved in vigorous physical activities and athletics, which works in the market’s favor. The US market for sports drink is quite profitable and is set to advance at an exhilarating pace in the coming years. The country accommodates some of the world’s most affluent brands such as PowerAde, Body Armor and Gatorade. It is projected that close to 40% of females and 60.0% of males in the United States are the key consumers in the sports drink industry. This fast-emerging trend will be favorable for the global market in the ensuing years.
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The sales of functional beverages have been escalating at a rapid pace since consumers are now more willing to stay healthy. Across developed countries, beverages are not only quick refreshment, but are viewed as convenient and nutritious products. The market growth mostly depends on the growing consumer preference for beverages with protein and different nutrients, in line with their rising interest in wellness, ‘free from’ and natural trends. Some of the key consumer segments contributing to market growth include the geriatric population that desires vitality, millennials that want to explore new products that offer health benefits, and time pressed individuals looking for quick health benefits.
Manufacturers are mostly fixated on bolstering their offerings by developing new flavors with extra health benefits. The companies target varying age groups, considering the rising preference for sports drinks among young adults and teenagers. They continuously introduce innovative drinks that have natural ingredients as well as additives, which make them unique out of all the other products. For instance, in November 2020, PepsiCo launched its latest no-sugar Gatorade that contains juice flavorings. This flavored sports drink range will now comprise three new flavors, namely Apple Raspberry, Citrus Berry Punch and Mixed Berry.
Highly eminent companies active in the Sports Drink Industry are D’angelo, Arizona Beverage company, Fraser and Neave holdings bhd., PEPSICO, living essentials, Britvic plc, Extreme drinks co, AJE group, ARCTICO beverage company international INC, Monster beverage co, Abbott Nutrition co, GLAXOSMITHKLINE plc, Coca cola, Champion nutrition INC, to mention a few.
Sports drink industry has been dissected with respect to ingredient, sugar content, end-user and by age.
The ingredient-wise segments are flavors, & preservatives, citric acid, carbohydrates, salts & electrolytes, vitamins and more.
Sugar content-based Sports Drink Industry segments can be isotonic, hypertonic and hypotonic.
End-users considered in the market study are casual consumers, lifestyle users and athletes.
The age-dependent categories are teens as well as adults.
Asia Pacific/APAC, Europe, MEA or Middle East & Africa and North America are the key regional markets for sports drink.
North America stands as the highest gainer in the sports drink market and can even gain impetus at a substantial rate between 2016 and 2027. The escalating sales of flavored sports drink, mounting concerns with regard to well-being and higher focus on leading a healthy lifestyle are responsible for the market’s dominance. North America has also achieved the top status in the global market, in view of the emerging fitness trend that foster the sales numbers for sports drinks.
APAC is on track to seize a healthy share in the global market, and progress at a significant pace owing to the surging rate of urbanization and the soaring number of gyms and fitness centers across China and India. Enhanced preference for natural sweeteners among the expanding pool of health driven people could also favor the APAC market.
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