With Increased Consumption Among Millennials, Sports & Energy Drinks Market Set To Grow Upto $106.7 bn By 2028
The global sports & energy drinks market size is estimated to grow by USD 106.7 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 13.52% during the forecast period. Increased consumption among millennials is driving market growth, with a trend towards demand for more functional beverages. However, increasing cases of obesity poses a challenge. Key market players include Abbott Laboratories, Acli Mate, BioSteel Nordics, Britvic plc, Cargill Inc., Decathlon SA, DyDo Group Holdings Inc., Energy Beverages LLC, Gujarat Cooperative Milk Marketing Federation Ltd., Hype Energy, Keurig Dr Pepper Inc., Large Life Ltd., Monster Energy Co., Otsuka Holdings Co. Ltd., PepsiCo Inc., Red Bull GmbH, Shree Jalaram Group, Suntory Beverage and Food Europe, The Coca Cola Co., and The Jel Sert Co..
Key Market Trends Fueling Growth
The global sports and energy drinks market is experiencing growth due to consumers’ preference for functional beverages. These beverages offer exotic tastes and essential nutrients, making them popular among athletes and fitness enthusiasts. Sports drinks, in particular, are gaining traction due to their electrolyte content and carbohydrates. This helps maintain hydration and provide energy during workouts. Natural ingredients, such as coconut water, are increasingly used in sports drinks for their functional benefits, contributing to the market’s expansion.
Market Challenges
The sports and energy drinks market faces a challenge due to health concerns surrounding excessive consumption of these beverages. Consumers prioritize weight control and prefer drinks with minimal carbohydrate and sugar content. While sports drinks offer electrolytes and minerals for rehydration, their sugar content can lead to weight gain and obesity, particularly among teenagers. The American Academy of Pediatrics recommends limiting sports drink intake for those engaging in intense exercise in hot conditions. Unchecked consumption can result in major health issues, including dental problems. This trend may hinder market growth during the forecast period.
Research Analysis
The Sports and Energy Drinks market encompasses a wide range of beverages designed to enhance physical performance and provide essential nutrients. These beverages include Sports Drinks, Energy Drinks, Functional Beverages, and others. Key components of these drinks are Electrolytes, Caffeine, Sugar, and Vitamins. The market caters to various dietary preferences, such as Keto, Paleo, and Plant-based diets. B2C enterprises and eCommerce platforms dominate the distribution channels, while international institutions and trade associations play a crucial role in market research and development. The Sports and Energy Drinks market continues to evolve, offering innovative solutions to meet the diverse needs of consumers.
Market Research Overview
The Sports and Energy Drinks market caters to consumers seeking enhanced performance and endurance during physical activities. These beverages contain essential nutrients, electrolytes, and caffeine to replenish energy levels and maintain hydration. The market is driven by various factors, including the increasing popularity of active lifestyles, the growing awareness of health and wellness, and the expanding consumer base in developing countries. The market offers a wide range of products, including ready-to-drink (RTD) and powdered formats, with various flavors and functionalities.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends. This provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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