Market Size of Europe Sports Drink Industry
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Forecast Data Period||2023 - 2028|
|Historical Data Period||2018 - 2021|
*Disclaimer: Major Players sorted in no particular order
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Europe Sports Drink Market Analysis
The Europe sports drink market was valued at USD 1,867.0 million for the current year and is projected to register a CAGR of 5.14% over the next five years.
- The indulgence of individuals in some sort of physical activities, such as adventure sports and gyms, for recreational and health purposes represents one of the key factors boosting the consumption of sports drinks in Europe. According to the statistics published by Sport England in 2022, between November 2020 and November 2021, approximately 3.6 million people participated in adventure sports in England, compared to about 3.2 million people who participated between November 2019 and November 2020.
- Moreover, due to the busy lifestyles of individuals and their inclination towards healthy diets, there is a significant rise in the need for on-the-go functional beverages like sports drinks. These beverages are readily available in convenient packaging like bottles, cans, and tetra packs that are easy to carry and ideal on-the-go products for the working population.
- The inclination towards non-alcoholic beverages provides growth opportunities to players operating in the market. The statistic by UNESDA revealed that the total consumption of non-alcoholic beverages in the United Kingdom increased from 13.4 billion liters in 2020 to over 13.8 billion liters in 2021. Furthermore, companies are coming up with low-calorie, sugar-free products to cater to the demand of health-conscious consumers and individuals suffering from medical conditions like obesity and diabetes. Key players are adopting various unique strategies, such as endorsements, sponsorships, and building brand image and trademarks, to expand their consumer base and market share. For instance, in 2023, FC Barcelona secured a sponsorship agreement with Prime Hydration, created by KSI and Logan Paul. The brand has been announced as the official hydration partner for the next three seasons. Apart from this, due to the increasing influence of social media on the purchasing behavior of consumers, brands have been turning to social media platforms, such as Facebook, Instagram, and YouTube, to engage their consumers through promotional campaigns and drive sales.
- Therefore, the factors mentioned above are some of the primary factors likely to impel the growth of the sports drink market in Europe in the near future.