Sports Drink Market: Upsurge in the Number of Sports Persons and Athletes to Enable Speedy Expansion
The sports drinks market research executes a PESTEL study and SWOT analysis to reveal the stability, restrictions, openings, and threats in the market. Combined with the market analysis capabilities and knowledge integration with the relevant findings, the report has foretold the robust future growth of the market, and all articulated with geographical and merchandise segments. Moreover, it also shows different procedures and strategies, benefactors and dealers working in the market. Explores components convincing market development, generation patterns, and following systems. Additionally, the figures and topics covered in this report are both all-inclusive and reliable for the readers.
The global sports drink market size is predicted to reach USD 32.61 billion by 2026, exhibiting a CAGR of 4.2% during the forecast period. The growing number of health-conscious consumers around the world will consequently aid the sports drinks market growth in the forthcoming years. Furthermore, the growing number of athletes and sports persons will also encourage the growth of the market in the forthcoming years. According to the National Collegiate Athletic Association (NCAA), the number of NCAA athletes stretched high.
In 2017-18 approximately 494,992 students participated in NCAA championship sports, which was an increase of more than 3,000 since 2016-17. Furthermore, the growing focus of males and females towards sports activities will have a positive impact on the sports drink market revenue. For instance, the number of men’s teams nationwide increased by 62 from the past years, while women’s teams increased by 64. Women’s teams have outnumbered men’s teams since 1996-97. the market size stood at USD 23.54 billion in 2018.
Launch of Gatorade by BOLT24 to Augment Growth Process
Gatorade, an American manufacturer of sports-themed beverage and food products, announced the unveiling of BOLT24. The company’s new sports drink is a low-calorie electrolyte beverage, as the Bolt24 contains no artificial flavors or sweeteners and is aimed for athletes to keep them hydrated around the clock. The announcement for the new drink by the company is expected to fuel demand among athletes owing to the natural and organic content of the drink. So which in turn will facilitate the sports drinks market share.
Furthermore, Gatorade’s senior vice president, Brett O’Brien, said in a statement, the drink is sea salt and watermelon based. Something else that distinguishes it from other Gatorade products. He further added the new drink would allow the company “to think about athletes in a whole different way.” In addition, the rising R&D investments by key players for the development of innovative sports drinks aimed at athletes will enable healthy growth of the market, sates our lead analysts at Fortune Business Insights™
Rising Demand for Sports Drinks to Boost Market Prospects in North America
The market in North America stood at USD 7.90 billion in 2018. This is expect to remain dominant during the forecast period due to the increasingly health-conscious population in the region. For instance, in 2018, approximately 55% of the American population lived a healthier lifestyle. Furthermore, the rising demand for sports drinks in the U.S due to the presence of major players such as Gatorade, PowerAde. Body Armor will further influence the sports drinks market trends in North America. Asia Pacific is expected to witness a high demand for sports drinks in the forthcoming owing to the rising disposable income in developing countries such as India, China, and, Japan. In addition, an increasing number of health-conscious consumers will impel companies to introduce new sports drinks. So which in turn will boost the sports drink market share by brand.
Some of the Major Companies Operating in the Global Sports Drink Market Include:
- PepsiCo
- The Coca-Cola Company
- BA Sports Nutrition
- AJE group
- Britvic PLC.
- MyDrink Beverages
- Kraft Heinz Company
- Nestle SA
- GlaxoSmithKline plc.
- Abbott Nutrition co
Source of Information:
https://www.fortunebusinessinsights.com/sports-drink-market-102083
Author’s Bio:
Name-AMAN SINGH GANDHI
Aman is presently working as a content writer at Fortune Business Insights. His key focus is to deliver quality content to his audience. He specializes in blog writing, articles, and press releases. As a writer, he believes in learning and exploring different areas to communicate with his readers vividly.