The global sports drinks market is expected to grow at a CAGR of 8.1% during 2016-2022. Among the various product types, the isotonic segment held the largest share in the global sports drinks market in 2015.
The up surge in the level of urbanization has been propelling consumer demand in all domains. Their changing lifestyle is encouraging them to adopt healthy drink habits. This is also driving the demand for sports nutrition products including the sports drinks, such as protein drinks, non-protein drinks and herbal drinks. The shift in consumer trend is also encouraging the sports drinks manufacturers to evolve new products that can suffice people to attain their health goals faster. Africa and Asia are regions with fastest rate of urbanization. According to a report by United Nations, the urbanization level for all of the global regions will be above 50% by 2050.
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The developed countries such as the U.S. and countries in Europe are the major markets for sports drinks products, due to their high disposable incomes; however, the emerging economies in Asia-Pacific are expected to be major growth drivers for the market during the forecast period. The low awareness in the developing countries as compared to the western markets is the key reason for less market share of eastern countries in the global sports drinks market. Moreover, the low disposable income of consumers and use of products limited only to elite class people have also been hindering the growth of the market earlier.
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The major companies operating in the global sports drinks market include Glanbia Plc, PepsiCo Inc., The Coca Cola Company, Monster Beverage Company, and ClifBar, MusclePharm Corporation.
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