Isotonic Drinks Market
Isotonic Drinks Market
The global isotonic drinks market generated $1.87 billion in 2020, and is expected to reach $7.78 billion by 2028, witnessing a CAGR of 8.8% from 2021 to 2028.
WILMINGTON, DELAWARE, UNITED STATES, April 24, 2024 /EINPresswire.com/ -- Rise in government investments in sports events, surge in number of gyms and health clubs, and increase in demand for instant energy-boosting products drive the growth of the global isotonic drinks market. North America held the highest market share in 2020, and is expected to continue its leadership status by 2028. Production activities of isotonic drinks halted completely or partially due to lockdown measures implemented in various countries.
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Leading players of the global isotonic drinks market analyzed in the research include Lucozade Ribena Suntory, The Coca-Cola Company, Luxottica, Hercules Health Care Pvt. Ltd., Musclematic, PepsiCo, Oshee, BA Sports Nutrition, LLC, Bigflex Lifescience, Decathlon SA, and NDurance (Pvt) Ltd.
Rise in government investments in sports events, surge in number of gyms and health clubs, and increase in demand for instant energy-boosting products drive the growth of the global isotonic drinks market. However, threat of counterfeit products and stringent government rules and regulations hinder the market growth. On the other hand, increase in number of athletes in developing countries and surge in awareness regarding health wellness products present new opportunities in the coming years.
Covid-19 Scenario:
Production activities of isotonic drinks halted completely or partially due to lockdown measures implemented in various countries. Moreover, disruptions in the supply chain presented challenges in production.
Owing to lockdown restrictions, there were restrictions on outdoor sports such as football, cricket, volleyball, baseball, and others. Moreover, many major sports events were either canceled or postponed. This reduced the demand for isotonic drinks.
Distribution channels such as supermarkets and hypermarkets were closed during the lockdown. Consumers preferred online channels to purchase isotonic drinks as they opted for various exercises and physical activities at home.
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The report offers detailed segmentation of the global isotonic drinks market based on form, packaging, distribution channel, and region.
Based on form, the liquid segment contributed to the highest market share, accounting for around three-fourths of the total share in 2020, and is estimated to maintain its lead position during the forecast period. However, the powder segment is expected to witness the highest CAGR of 10.5% from 2021 to 2028.
Based on distribution channel, the supermarkets/hypermarkets segment accounted for the highest market share in 2020, holding nearly half of the global isotonic drinks market, and is projected to continue its dominant share in terms of revenue during the forecast period. However, the online sales channel segment is estimated to manifest the fastest CAGR of 11.7% from 2021 to 2028.
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Based on region, North America held the highest market share in 2020, accounting for nearly half of the total share, and is expected to continue its leadership status by 2028. However, Asia-Pacific is estimated to witness the largest CAGR of 12.4% during the forecast period.
David Correa
Allied Market Research
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