The U.S. sports drink industry size was valued at USD 6.50 billion in 2021. The market 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.
Lists out all the U.S. sports drink market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- 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.)
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.
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
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.