According to the latest report by IMARC Group, titled "Sports and Energy Drinks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global sports and energy drinks market size reached US$ 105.4 Billion in 2022. Sports drinks are beverages that are specifically formulated for athletes and active individuals. They generally contain a combination of carbohydrates, electrolytes, and other nutrients, including vitamins and minerals, that are intended to improve their physical performance and endurance. They are intended to be consumed before, during, or after a physical activity to increase energy. Energy drinks, on the other hand, usually contain high levels of caffeine, along with other ingredients, such as taurine and ginseng, to boost mental and physical energy. They are often consumed by individuals who require a quick boost of energy for improving focus and concentration.
Global Sports and Energy Drinks Market Trends:
The global market is majorly driven by the rising health awareness among the masses, which has led to the growing demand for sports and energy drinks formulated with natural ingredients and sweeteners. Moreover, the increasing participation of individuals in sports and fitness activities, including running, cycling, and gym workouts, is driving the sales of sports and energy drinks as they aid in improving the athletic performance and recovery. In line with this, the hectic lifestyles led by the working population have resulted in the widespread adoption of sports and energy drinks as a convenient source of energy and hydration. Apart from this, numerous manufacturers are increasingly focusing on introducing product variants with plant-based ingredients, such as coconut water, aloe vera, and adaptogens, which are anticipated to gain prominence among health-conscious consumers. Several key players are also adopting eco-friendly packaging solutions, such as cartons and paper bottles as well as cans and bottles made from recycled materials, due to an enhanced focus on sustainable development. Some of the other factors contributing to the market growth include the continual development of new flavors, packaging, and functional ingredients that cater to specific consumer groups, inflating disposable income of the masses, the easy product availability via online and offline organized retail channels and the advent of sports and energy drinks in the form of powders, gels, and energy shots. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 160.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.2% during 2023-2028.
Sports Drinks Market:
- Based on the product type, the market has been divided into isotonic, hypertonic and hypotonic. Currently, isotonic drinks represent the most popular product type.
- On the basis of the packaging type, the market has been segmented into bottle (PET/glass), can and others. Presently, bottles (PET/glass) dominate the market.
- Based on the distribution channels, the market has been segmented into supermarkets and hypermarkets, convenience stores, online and others. Amongst these, supermarkets and hypermarkets represent the largest distribution channel for sports drinks.
- Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. At present, North America holds the leading position in the market.
Global Energy Drinks Market:
- Based on the product, the market has been segregated into alcoholic and non-alcoholic energy drinks. Currently, non-alcoholic based drinks hold the largest market share.
- On the basis of the type, the market has been divided into non-organic and organic energy drinks, wherein non-organic energy drinks exhibit a clear dominance in the market.
- Based on the packaging type, the market has been categorized into bottle (PET/glass), can and others. Amongst these, bottles (PET/glass) represent the largest segment in the market.
- Based on the distribution channel, supermarkets and hypermarkets hold the leading position across the globe. Other major channels include convenience stores, online and others.
- On the basis of the target consumer, energy drinks are mostly consumed by adults. Other major segments include teenagers and geriatric population.
- Region-wise, North America currently represents the leading energy drinks market. Some of the other major regions are Europe, Asia Pacific, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Abbott Nutrition Co., AJE Group, Britvic PLC, Extreme Drinks Co., Fraser & Neave Holdings BHD, GlaxoSmithKline Plc, Red Bull, Rockstar, Inc., Coca-Cola, PepsiCo, Arizona Beverage Company, National Beverage Corp, Keurig Dr Pepper Inc., Living Essentials, Cloud 9 Beverages Private Limited and Vitale Beverages Pvt Ltd.
|Base Year of the Analysis
||Product Type, Packaging Type, Distribution Channel, Type, Target Consumer, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||Abbott Nutrition Co., AJE Group, Britvic PLC, Extreme Drinks Co., Fraser & Neave Holdings BHD, GlaxoSmithKline Plc, Red Bull, Rockstar, Inc., Coca-Cola, PepsiCo, Arizona Beverage Company, National Beverage Corp, Keurig Dr Pepper Inc., Living Essentials, Cloud 9 Beverages Private Limited and Vitale Beverages Pvt Ltd.
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