GCC Sports Drink MarketProduct Launches Along With Increasing Sport Pertaining Activities Across the GCC Regions Have Been Identified as the Key Factors Driving the GCC Sports Drink MarketThe GCC Sports Drink Market size is estimated to reach $347 million by 2027. Furthermore, it is poised to grow at a CAGR of 4.8% over the forecast period of 2022-2027. Sports drinks are popularly termed under the category of functional food and beverages, and moreover, assist in keeping the athlete, or the consumer feels hydrated and energetic, thereby supplementing his/her performance. The performance is improved in multiple ways owing to the nutritional composition, which is rich in carbohydrates- minerals- electrolytes apart from the other common ingredients such as water-sodium-flavors-potassium-sugars (if any), and others. The regular consumers, post the consumption of such electrolyte drinks- feel more potent energy, and refreshed to work for longer hours. One of the common forms of sports drinks is an isotonic sports drink, which has a nutrient composition of carbohydrates in the ratio of 40-80 grams per liter serving. Hypotonic and Hypertonic sports drinks are other compositions, which have varying amounts of carbohydrates- the former has a low carbohydrate to fluid ratio, while the latter has a higher carbohydrate to fluid ratio. Product launches along with increasing sport pertaining activities across the GCC regions have been identified as the key factors driving the GCC Sports Drink Industry in the projected period of 2022-2027.
GCC Sports Drink Market Segmentation Analysis - By Type
The GCC Sports Drinks Market based on type can be further segmented into Isotonic, Hypertonic, and Hypotonic. Isotonic held a dominant market share in the year 2021. It is owing to the feeling of refreshment post-consumption of such drinks, further their nutritional value composition of carbohydrates in the ratio of 40-80 grams per liter serving. Post-heavy exercise regimen or during sports, excessive amounts of potassium and salts are lost, which can be easily recovered back by consuming the said form of drink. However, Hypotonic is estimated to be the fastest-growing, with a CAGR of 5.4% over the forecast period of 2022-2027. It is owing to the low presence of artificial sugars in the said drink, which for now has become a primary concern for regular consumers. Hypotonic sports drinks have less than 6% carbohydrate content and fluid is absorbed faster than isotonic drinks. While providing less energy than isotonic drinks, the low concentration of hypotonic drinks relative to the blood allows for faster fluid uptake through the natural process of osmosis. As per the secondary sources, 10.1% of the Omani population is now diabetic, thereby hypotonic solutions would gain an edge.
GCC Sports Drink Market Segmentation Analysis - By Packaging Type
The GCC Sports drink market based on packaging type can be further segmented into Metal, PET/Plastic, Glass, and Others. PET/Plastic held a dominant market share in the year 2021. It is owing to the plastic packaging domination which still exists. For example, major packagers across the globe have a ratio of around 40-42% of the revenue is generated by selling the said category, which shows the domination of PET/Plastic. However, Metal is estimated to be the fastest-growing, with a CAGR of 5.5% over the forecast period of 2022-2027. Aluminum is an infinitely recyclable material, and it takes up to 95 percent less energy to recycle it than to produce primary aluminum, which also limits emissions, including greenhouse gases. Today, about 75 percent of all aluminum produced in history, nearly a billion tons, is still in use. Owing to the growing concerns pertaining to issues like recyclability- sustainability-and government commitments, the segment would show immense growth.
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GCC Sports Drink Market Segmentation Analysis - By Country
The GCC Sports drink market based on the country can be further segmented into United Aram Emirates, Saudi Arabia, Qatar, Kuwait, and Bahrain. Saudi Arabia held a dominant market share of 37.4% in the year 2021 owing to the region’s prolific ties with western regions and brands, which makes it a targetable location. Further, out of the given countries- the said region has the most population, as around 61% of the GCC population resides in the said region, thereby allowing marketers to take advantage of volume sales. Additionally, the HDI or the Human Development Index of the said region is the highest. However, Qatar is expected to offer lucrative growth opportunities owing to high per capita income supplemented by the government’s support to make the overall economy more robust.
GCC Sports Drink Market Drivers
The stronghold position in hosting sporting events has acted as a key proposition for the market
Sporting events are associated to bring an immense amount of revenue, particularly through brand sponsorships, while local ancillaries reap such benefits post the market is laid by the big brand players, who would have invested heavily for promoting their drink or beverage. Another important football league or FIFA 2022 is set to be hosted in QATAR. QATAR spend a whopping $167 billion to host FIFA 22. Coca-Cola has been reaped in as one of the official sponsors for the tournament. Furthermore, the marketing rights set for FIFA 22 is kept at 1353 million, which is the second-highest, only after broadcasting rights. Furthermore, UAE benefitted by around $24.5 million by hosting the IPL 2020 edition. Owing to such trends, and robust growth avenues-the sports drink industry is placed favorably.
The nutritional completion provided by sports drinks has readily aided the market growth
Sports drinks can help one cover for the loss of electrolytes, as when one sweats, they lose huge amounts of sodium-potassium-phosphate-calcium-magnesium-and chlorine. The average footballer loses close to 1.1 liters of water in a game, while the figures would increase drastically if the running proportion was more. Muscle cramps and low levels of energy are some of the common effects of losing electrolytes, which sports drinks can rightly provide. Owing to such nutritional completion, the sports drink market is positioned favorably.
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GCC Sports Drink Market Challenges
The negative views pertaining to sports drinks owing to their high-sugar content have impeded the market growth
The prima facie reason for market heat is that sports drinks are high in natural sugars, owing to their high amounts and needs people have formed negative images for the consumption of Sports drinks. Furthermore, 75% of the population is young, which makes the consumers incredibly aware of their nutritional intake. Saudi Arabia, for example, has been reported to have around 7million of population diabetic, while 3million people are in the pre-diabetes phase. Additionally, UAE has one of the world’s highest prevalences of diabetes, which stands at 16.3% Owing to such reasons the market would face consumer heat.
GCC Sports Drink Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in this market. GCC Sports Drink top 10 companies include:
The Coca-Cola Company,
Monster Beverage Corp,
Red Bull GmbH,
Dr. Pepper Snapple Group Inc.,
PepsiCo Inc.
Gusto Organic,
Labrada Nutrition,
Enerzal,
Staminade,
Amp Energy,
Recent Developments
In December 2021, Rockstar Energy cum Sports drink made its debut in UAE. PepsiCo is bringing a vitalizing beverage to the UAE for the very first time. Welcome to Rockstar energy drink Rockstar which encourages people to celebrate every moment and seize the day as if ‘life is your stage. The product is positioned as such which allows it to be used across non-sporting communities such as creators-entrepreneurs-and workaholics.
In November 2021, PepsiCo through its Gatorade brand is bringing the most celebrated Athlete- Usain Bolt. PepsiCo is uniting the platform of Expo 2020 Dubai with the global influence of Gatorade and Usain Bolt, to support the communities it operates in by ensuring healthy lifestyles are inclusive and sports and wellness is accessible to all. Through a partnership with the Sports, Fitness, and Wellbeing Hub at Expo 2020 Dubai, PepsiCo has arranged a public 1.45 km Family Run on Saturday 13th November to raise funds for Al Noor Rehabilitation & Welfare Association for People of Determination.
In March 2020, the newly launched energy cum sports drink which has been made in Dubai is looking to extend across the UAE and plans to go global soon. Dubai Energy Drink, which officially launched at the Gulfood event in Dubai last month, is expected to be across retail shelves in the UAE by the second quarter of 2020. Priced at Dhs5 per can, the drink aims to use its low price point (less than half the price of global rival Red Bull in the UAE) to compete and gain a foothold in the market.
Key Takeaways
Geographically, Saudi Arabia held a dominant market share in the year 2021. It is owing to the presence of robust economic structure, and immense political backings which makes the intra-relations with the Western Brands superior. Further, the region is promoting an overall outlay which has further allowed the market to stay up the ladder. However, Qatar is expected to offer lucrative growth opportunities to marketers owing to the robust economic structure supplemented by the upcoming sports leagues.
Product launches along with increasing sport pertaining activities across the GCC regions have been identified as the key factors driving the GCC Sports Drink Market. However, strict regulations before selling along with ill-reviews of sports drinks have hampered the market growth.
A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the GCC Sports Drink Market.
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