The United States Sports Drink Market size was valued at USD 6.50 billion in 2021 and is projected to grow from USD 6.77 billion in 2022 to USD 9.38 billion by 2029, exhibiting a CAGR of 4.76% during the forecast period.
This information is presented by Fortune Business Insights, in its report titled, “United States Sports Drink Market, 2022-2029.”
Supply Chain Interruptions Impeded Market Growth During Pandemic
Due to the COVID-19 pandemic, the U.S. government implemented a number of measures starting in March 2020 to stop the virus from spreading, including travel bans and restrictions, quarantines, curfews, public gatherings, shelter-in-place and safer-at-home orders, company shutdowns, and closures. Due to the shortage of raw materials, there were factory closures, increase in operational costs, and postponements of numerous tournaments & leagues, which limited sporting activities. The pandemic undoubtedly had a moderate impact on the sales income of sports beverages in the U.S.
List of Major players operating in United States Sports Drink Market report are:
PepsiCo, Inc. (U.S.)
The Coca-Cola Company (U.S.)
Genomma Lab Internacional (U.S.)
Lifeaid Beverage Co. (U.S.)
Hoist (U.S.)
BioSteel Sports Nutrition Inc. (Canada)
Applied Nutrition Ltd (UK)
CAB Enterprises Inc. (U.S.)
Non Acidic Beverages LLC (U.S.)
Elite Beverage International (U.S.)
Report Coverage:
The report presents a holistic study of the U.S. sports drink market share along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions or driving factors is also mentioned in the report. Step by step, thorough regional analysis is offered. The COVID-19 impacts have been added to the report to help investors and business owners understand the threats better. The top players in the market are identified, and their strategies to bolster the U.S. sports drink market growth are shared in the report.
Drivers and Restraints:
Increasing Inclination toward Physical Fitness is Fueling Market Growth
One of the main factors surging the demand for sports drinks is the rising propensity for physically active and fitness-related activities among millennials, particularly among athletes, as well as their expanding purchasing power and willingness to pay more for healthier alternatives. Additionally, sports drinks have a number of advantages such as reducing dehydration and providing electrolytes to replenish sweat and keep the body's electrolyte balance. The market is therefore anticipated to develop as consumer knowledge of the health advantages of goods rises.
Segments:
Rising Demand for Isotonic Drinks Drives Market Growth
By type, the market is divided into isotonic, hypotonic, and hypertonic. The isotonic segment is one of the leading segments in the market as it consists of almost a similar amount of sugar and salt as in the human body.
Easy Availability of Diversified Sports Drink Brands in the U.S. to Accelerate Brand Sales
By material, the market is segregated into Gatorade, Powerade, and others. Gatorade dominates the market and is anticipated to grow at a significant CAGR during the forecast period.
Extensive Use of Metal Packaging is Fueling Market Growth
Based on packaging type, the market is segmented into metal, PET/plastic, and glass. The metal segment dominated the market and is expected to grow at a significant CAGR during the forecast period.
Rise in the Number of Individual Participation in Outdoor Activities is Driving the Market
Based on target consumer, the market is segmented into teenagers, adults, and geriatric. The adults segment is the highest contributor to the market growth, owing to the highest percentage share in the total population.
Offline Segment to Remain Dominant in the Coming Years
The market is categorized into online and offline based on distribution channel. The offline segment held a significant market share in 2021. The offline segment includes hypermarket/supermarket, drug stores, convenience stores, and others.
Competitive Landscape:
Partnerships among Companies to Secure Their Brand Values in Global Market
Prominent players in the market are constantly opting for effective strategies to promote their products and establish their positions in the market. One such strategy is to launch new products by partnering with other companies to extend their reach to end-users.
Key Industry Development:
June 2022: In a new multi-year agreement, the NHL, NHLPA, and PepsiCo announced that their cooperation has been extended. In terms of soft drinks, hydration, sports drinks, and savory refreshments, PepsiCo will continue to hold all rights. As a result, the company will benefit from new promotional opportunities and product launch opportunities as a result of working with major sporting events.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/us-sports-drink-market-107190