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The global sports and energy drinks market reached a value of US$ 93.3 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 7.2% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Sports and energy drinks refer to beverages which replenish electrolytes and carbohydrates in the body while engaging in sports and fitness activities. Sports drinks are widely consumed by athletes and sports enthusiasts as these drinks are rich in chlorides, calcium, sodium, magnesium and potassium. On the other hand, energy drinks contain sugar and stimulant compounds which provide mental and physical stimulation to consumers. Energy drinks can be both aerated and non-aerated which may contain caffeine, amino acids, herbal extracts and sweeteners. As these drinks offer an instant boost of energy, their demand is proliferating across the globe, especially among millennials.
Global Sports and Energy Drinks Market Drivers:
The growing popularity of unconventional fitness activities like yoga and aerobics along with the rising trend of participation in half and full marathons has propelled the demand for energy drinks worldwide. Additionally, as consumers are becoming conscious about the health issues caused by the regular consumption of non-organic sports and energy drinks, several manufacturers are launching drinks containing natural ingredients such as organic guarana and raw green coffee bean extracts. Moreover, they are developing their products by including varied ingredients and different packaging techniques like pill-shaped bottles. Apart from this, companies are investing in innovative marketing and advertising strategies to widen their product portfolio. They are also introducing tailor-made flavors and limited-edition products, for instance, Monster Beverage Corporation launched its Valentino Rossi special edition citrus-flavored energy drink in 2014 which targeted a specific consumer-base. Some of the other factors that are contributing to the growth of the sports and energy drinks market include changing lifestyles, altering food preferences and long working hours of consumers.
The global sports and energy drinks market size was valued at US$ 93.3 Billion in 2020.
According to the estimates by IMARC Group, the global sports and energy drinks market is expected to exhibit strong growth during 2021-2026.
The growing consumer awareness towards numerous health benefits of sports and energy drinks in improving hydration levels, reducing fatigue, boosting energy, etc., represents one of the key drivers for the global sports and energy drinks market.
The emergence of organic and naturally-sourced product variants along with rising popularity of tailor-made flavors and limited-edition products represent some of the key trends in the global sports and energy drinks market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the shift from brick-and-mortar distribution channels towards e-commerce platforms for the purchase of sports and energy drinks.
On the basis of the product type, the market has been bifurcated into isotonic drinks, hypertonic drinks and hypotonic drinks. Currently, isotonic drinks hold the largest market share.
On the basis of the product type, the market has been segmented into alcoholic drinks and non-alcoholic drinks. At present, alcohol-based drinks hold the largest market share.
On the basis of the packaging type, the market has been segmented into bottles (pet/glass), cans and others. Currently, bottles (pet/glass) hold the majority of the total market share.
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