United States Sports Drink Market Outlook 2031
The United States Sports Drink Market size was USD 6.81 Billion in 2022 and is likely to reach USD 10.35 Billion by 2031, expanding at a CAGR of 4.76% during the forecast period, 2023–2031. The growth of the market is attributed to increasing inclination toward fitness activities. Moreover, growing awareness about the sports drinks is driving the market growth.
Sports drinks are gaining huge preference over conventional fruit drinks as athletes and individuals are engaging in vigorous physical activities. Rising demand for various beverages due to increasing health awareness and growing demand from the millennials are expected to drive the growth of the sports drink market in the country.
This market is growing at a rapid pace as consumers are increasingly looking for health-based solutions. In the developed markets, sports drinks are no longer viewed solely as a quick refreshment. Instead, they have become more convenient nutrient and food supplement products.
In the US, gyms, sports clubs and fitness studios were the first ones to undergo shutdowns during the COVID-19 pandemic, resulting in reduction of demand for sports drinks in the country, which in turn, led to the limiting of the sales of sports drink in the US.
Sports drinks companies in the country are concentrating on increasing the demand for their sports drinks with the help of various endorsements such as using athletes, celebrities, and promotional campaigns in fests and events, among others. These activities are aiding the growth of the United States sports drinks market.
Some of the massive beverage manufactures, such as Coca Cola Inc. and PepsiCo Inc., are providing their consumers a wide range of sports drink products. Moreover, major pharmaceutical companies, such as Abbott Nutrition, are also entering into this market.
United States Sports Drink Market Drivers, Restraints, Trends, and Opportunities
- Rising number of fitness/health club’s is anticipated to positively impact the growth of the US sports drink market.
- Limited customer base owing to lack of awareness can hinder the market growth.
- Innovation in the flavors with added health benefits and changing lifestyle of consumers are anticipated to spur the market growth.
- Rising number of beverage manufacturers entering the sport drink segment is expected to make the market competitive; however, is anticipated to expand the market size.
- Growing trend of digital marketing owing to increasing Internet penetration is expected to help the companies to increase their market share, resulting in the expansion of the market.
Scope of United States Sports Drink Market Outlook Report
The report on the United States sports drink Market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
Sports Drink Market - United States Industry Analysis, Growth, Share, Size, Trends, and Forecast
Distribution Channels (Supermarkets/Hypermarkets, Convenience Stores, Online Retail Stores, and Others)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Pepsico Inc., The Coca-Cola Company, BA Sports Nutrition, LLC, AJE group, Britvic PLC, and GlaxoSmithKline Plc
United States Sports Drink Market Segment Insights
Supermarkets/Hypermarkets segment to account a large market share
Based on distribution channels, the market is classified as supermarkets/hypermarkets, convenience stores, online retail stores, and others. The supermarkets/hypermarkets segment is projected to account for a large market share during the forecasted period. This is owing to the large number of customers purchasing from supermarkets/hypermarkets owing to ease of availability of preferred sport drink brand and availability of discounts.
The online retail stores segment is anticipated to exhibit a high CAGR in the projected timeline. Sports drinks vendors in the country are adopting online retail strategies to reduce costs and increase their margins, which is expected to benefit the market during the forecast period.
For example, major players, such as Coca Cola and PepsiCo are offering their products through various online channels, such as Amazon, Walmart, and Kroger. Major industry players are adopting digital marketing strategies to increase their sales due to rising Internet penetration and increasing adoption of smartphones in the country.
- Convenience Stores
- Online Retail Stores
The US sports drink market is moderately competitive. Major palyers of the market are Pepsico Inc., The Coca-Cola Company, BA Sports Nutrition, LLC, AJE group, Britvic PLC and GlaxoSmithKline Plc.
The key strategies adopted by the players in the market are engaging in product launches to maintain its competitiveness in the market. The companies have been introducing new and innovative products with the inclusion of naturally derived ingredients and additives, so as to make their product unique among the existing products.