PUNE: The global sports drink market size is predicted to reach $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 a report published by Fortune Business Insights, titled “Sports Drink Market Size, Share & Industry Analysis 2019 – 2026”.
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.
According to the report, the global market size stood at $ 23.54 billion in 2018. The market in North America stood at $7.90 billion in 2018 and is expected 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 US due to the presence of major players such as Gatorade, PowerAde, and BodyArmor 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, which in turn will boost the sports drink market share by brand.
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
