Sports Drinks Market Size 2024 And Growth Rate

The sports drinks market size has grown strongly in recent years. It will grow from $22.87 billion in 2023 to $24.23 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to the rise in globalization, focus on health and wellness, rise in demand for functional beverages, demand for functional ingredients, and increased health consciousness.

Sports Drinks Market Growth Forecast

The sports drinks market size is expected to see strong growth in the next few years. It will grow to $30.92 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to increasing demand for zero-sugar sports drinks, growing popularity of sports and fitness activities, increasing participation in organized sports, increasing athletic events, and a growing number of fitness centers and gyms. Major trends in the forecast period include hybrid beverages, healthier formulations, digital integration and smart packaging, customization and personalization, natural and clean-label ingredients, plant-based formulations, and hydration monitoring technology.

Sports Drinks Market Driver: Growth In Sports And Athletics Fuels The Sports Drinks Market

Growth in sports and athletics is expected to propel the growth of the sports drinks market going forward. Sports and athletics encompass a wide range of physical activities and competitive games that involve skill, strategy, and physical exertion. Increased interest and participation in sports and athletics are driven by various factors, including health awareness, accessibility to facilities, and societal emphasis on fitness. Sports drinks in sports and athletics primarily replenish fluids, electrolytes, and carbohydrates lost during intense physical activity. These drinks are formulated to replace fluids lost through sweating during exercise. For instance, in May 2023, according to the National Sporting Goods Association (NSGA), a US-based wholesaler and manufacturer of sports equipment, participation in fitness activities among Americans aged 7 and above increased by 4% from 2021 to 2022. Additionally, in April 2023, according to the Active Lives Adult Survey conducted by Sport England, a UK-based non-departmental public body, more than 60% of adults, totaling 29.1 million individuals, managed to engage in 150 or more minutes of physical activity per week, marking a year-on-year increase of 1.7%. Therefore, growth in sports and athletics is driving the growth of the sports drinks market.

Global Sports Drinks Market Major Players

Major companies operating in the sports drinks market report are Nestle SA; PepsiCo Inc; Abbott Laboratories; The Coca-Cola Company; GlaxoSmithKline plc; The Kraft Heinz Company; Suntory Holdings Limited; Keurig Dr Pepper Inc; Otsuka Holdings Co Ltd; Decathlon Sports India Pvt Ltd; Hormel Foods Corporation; The Swire Group; Molson Coors Beverage Company; Red Bull GmbH; Amway; Thai Beverages PCL; Monster Beverage Corporation; Nongfu Spring Co. Ltd.; AriZona Beverages USA; GNC Holdings LLC; Taisho Pharmaceutical Co Ltd; Britvic PLC; BA SPORTS NUTRITION LLC; Olvi Plc; Carabao Tawandang Co. Ltd.; The Jel Sert Company; GU Energy Labs; CytoSport Inc; BioSteel Sports Nutrition Inc.; ROAR Beverage Company; Stokely-Van Camp Inc.

Global Sports Drinks Market Trend: Key Players Innovations Revolutionize The Sports Drinks Market

Major companies operating in the sports drinks market are focused on developing advanced products formulated with innovative technologies, such as ION4 technology, to enhance hydration, replenish electrolytes, and improve performance for athletes and fitness enthusiasts. ION4 technology in sports typically refers to an advanced hydration system designed to replenish electrolytes lost during physical activity, helping athletes maintain optimal performance and prevent dehydration. For instance, in September 2023, the Coca-Cola Company, a US-based drinks manufacturing company, launched the Limca Sportz ION4 sports drink in India. This new sports drink is scientifically formulated with innovative ION4 technology, which is designed to cater to the hydration and energy needs of athletes and fitness enthusiasts. It contains essential minerals for rapid fluid intake and has refreshing real lemon juice to add to the taste and palatability.

Sports Drinks Market Merger And Acquisition: Monster Beverage Completes Acquisition Of Vital Pharmaceuticals Assets

In July 2023, Monster Beverage Corporation, a US-based beverage company that manufactures energy drinks, acquired all assets of Vital Pharmaceuticals Inc. for approximately $362 million. The acquired assets include Bang Energy beverages and a beverage production facility in Phoenix, Arizona. By acquiring Bang Energy assets, Monster Beverage aims to broaden its range of energy drink brands and solidify its presence in the energy drink market. Vital Pharmaceuticals Inc. is a US-based company that manufactures performance beverages and sports drinks.

Regional Insights For The Global Sports Drinks Market

North America was the largest region in the sports drinks market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sports drinks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Sports Drinks Market Definition And Segments

Sports drinks refer to beverages designed to replenish fluids, electrolytes, and carbohydrates lost during intense physical activity. They often contain water, sugar, electrolytes (such as sodium and potassium), and sometimes vitamins or other nutrients. These drinks aim to hydrate, provide energy, and support muscle function during exercise.

The main types of sports drinks are electrolyte-enhanced water, hypertonic, hypotonic, isotonic, and protein-based sports drinks. Electrolyte-enhanced water contains added minerals such as sodium and potassium, commonly used for hydration and replenishment of electrolytes lost during physical activity or dehydration. Sports drinks contain various ingredients, such as citric acid, flavors, preservatives, electrolytes, salts, carbohydrates, vitamins, and others., and are packaged in various forms, including aseptic packages, metal cans, and polyethylene terephthalate (PET) bottles. These are distributed through channels such as convenience stores, online retail, specialty stores, supermarkets, and hypermarkets for several end users, such as athletes, casual consumers, and lifestyle users. 

The sports drinks market covered in this report is segmented –

1) By Soft Drink Type: Electrolyte-Enhanced Water, Hypertonic, Hypotonic, Isotonic, Protein-Based Sport Drinks

2) By Ingredient: Citric Acid, Flavors And Preservatives, Salts And Electrolytes, Carbohydrates, Vitamins, Other Ingredients

3) By Packaging Type: Aseptic Packages, Metal Can, Polyethylene Terephthalate (PET) Bottles

4) By Sub Distribution Channel: Convenience Stores, Online Retail, Specialty Stores, Supermarket Or Hypermarket, Other Sub Distribution Channels

5) By End User: Athletes, Casual Consumers, Lifestyle User

The sports drinks market size has grown strongly in recent years. It will grow from $22.87 billion in 2023 to $24.23 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to the rise in globalization, focus on health and wellness, rise in demand for functional beverages, demand for functional ingredients, and increased health consciousness.

The sports drinks market size is expected to see strong growth in the next few years. It will grow to $30.92 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to increasing demand for zero-sugar sports drinks, growing popularity of sports and fitness activities, increasing participation in organized sports, increasing athletic events, and a growing number of fitness centers and gyms. Major trends in the forecast period include hybrid beverages, healthier formulations, digital integration and smart packaging, customization and personalization, natural and clean-label ingredients, plant-based formulations, and hydration monitoring technology.

Growth In Sports And Athletics Fuels The Sports Drinks Market

Growth in sports and athletics is expected to propel the growth of the sports drinks market going forward. Sports and athletics encompass a wide range of physical activities and competitive games that involve skill, strategy, and physical exertion. Increased interest and participation in sports and athletics are driven by various factors, including health awareness, accessibility to facilities, and societal emphasis on fitness. Sports drinks in sports and athletics primarily replenish fluids, electrolytes, and carbohydrates lost during intense physical activity. These drinks are formulated to replace fluids lost through sweating during exercise. For instance, in May 2023, according to the National Sporting Goods Association (NSGA), a US-based wholesaler and manufacturer of sports equipment, participation in fitness activities among Americans aged 7 and above increased by 4% from 2021 to 2022. Additionally, in April 2023, according to the Active Lives Adult Survey conducted by Sport England, a UK-based non-departmental public body, more than 60% of adults, totaling 29.1 million individuals, managed to engage in 150 or more minutes of physical activity per week, marking a year-on-year increase of 1.7%. Therefore, growth in sports and athletics is driving the growth of the sports drinks market.

Major companies operating in the sports drinks market report are Nestle SA; PepsiCo Inc; Abbott Laboratories; The Coca-Cola Company; GlaxoSmithKline plc; The Kraft Heinz Company; Suntory Holdings Limited; Keurig Dr Pepper Inc; Otsuka Holdings Co Ltd; Decathlon Sports India Pvt Ltd; Hormel Foods Corporation; The Swire Group; Molson Coors Beverage Company; Red Bull GmbH; Amway; Thai Beverages PCL; Monster Beverage Corporation; Nongfu Spring Co. Ltd.; AriZona Beverages USA; GNC Holdings LLC; Taisho Pharmaceutical Co Ltd; Britvic PLC; BA SPORTS NUTRITION LLC; Olvi Plc; Carabao Tawandang Co. Ltd.; The Jel Sert Company; GU Energy Labs; CytoSport Inc; BioSteel Sports Nutrition Inc.; ROAR Beverage Company; Stokely-Van Camp Inc.

Key Players Innovations Revolutionize The Sports Drinks Market

Major companies operating in the sports drinks market are focused on developing advanced products formulated with innovative technologies, such as ION4 technology, to enhance hydration, replenish electrolytes, and improve performance for athletes and fitness enthusiasts. ION4 technology in sports typically refers to an advanced hydration system designed to replenish electrolytes lost during physical activity, helping athletes maintain optimal performance and prevent dehydration. For instance, in September 2023, the Coca-Cola Company, a US-based drinks manufacturing company, launched the Limca Sportz ION4 sports drink in India. This new sports drink is scientifically formulated with innovative ION4 technology, which is designed to cater to the hydration and energy needs of athletes and fitness enthusiasts. It contains essential minerals for rapid fluid intake and has refreshing real lemon juice to add to the taste and palatability.

Monster Beverage Completes Acquisition Of Vital Pharmaceuticals Assets

In July 2023, Monster Beverage Corporation, a US-based beverage company that manufactures energy drinks, acquired all assets of Vital Pharmaceuticals Inc. for approximately $362 million. The acquired assets include Bang Energy beverages and a beverage production facility in Phoenix, Arizona. By acquiring Bang Energy assets, Monster Beverage aims to broaden its range of energy drink brands and solidify its presence in the energy drink market. Vital Pharmaceuticals Inc. is a US-based company that manufactures performance beverages and sports drinks.

North America was the largest region in the sports drinks market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sports drinks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the sports drinks market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The sports drinks market consists of sales of energy drinks, recovery drinks, specialized hydration formulas, and natural or organic sports drinks. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The sports drinks research report is one of a series of new reports from The Business Research Company that provides sports drinks market statistics, including the sports drinks industry's global market size, regional shares, competitors with a sports drinks market share, detailed sports drinks market segments, market trends and opportunities, and any further data you may need to thrive in the sports drinks industry. This sports drinks market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.