Key topics covered in report
- Current economic scenario of Latin America
- Top level Sports Drinks consumption actual data for 2010-2014, provisional data for 2015; while forecasts are provided for 2016-2021 across 17 Latin American countries
- Detailed analysis of the key segments in the Latin American sports drinks industry, with market forecasts to 2021.
- Major market players of the insurance sector of Panama.
- Key consumer trends which will influence insurance market
- Consumer demographics, trends and behaviors
Ken Research has announced its publication on, “Sports Drinks Consumption Volume and Growth Forecast to 2021-Latin America” offers insights on the changing trends and key issues within sports drinks market of Latin America. It provides a top-level overview and detailed insight into the operating environment for the Sports Drinks market in Latin America. It is an essential tool for companies active across the Sports Drinks value chain and for new players that are considering entering the market. It further imparts overall data analysis of the sports drinks market and gives historic and forecast consumption values for Sports Drinks covering 2010-2014, 2015 provisional data and forecasts for 2016-2021.
Economic Environment of Latin America
Latin American countries covered in the report are Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay, and Venezuela. Though many Latin American nations are witnessing positive growth and expected to expand further in future, many other countries are facing serious economic tribulations. Brazil and Ukraine are the worst affected nations, facing devastating economic scenarios due to political instability. Unemployment, high inflationary pressures, poverty, income inequality, output stagnancy, etc. are serious economic challenges faced by different nations of Latin America. While other nations like Panama, Peru, Chile, etc. are witnessing positive economic growth and rapid expansion of economy.
Brief Overview of sports drinks industry of Latin America
Sports Drinks is a performance-enhancing product, described as isotonic, hypertonic or hypotonic, meaning in balance with lighter than and heavier than body fluids, respectively. Products contain key electrolytes such as calcium, potassium, magnesium, sodium, as well as glucose syrup, maltodextrin, sweeteners and acidity regulators. Products may contain B complex group vitamins as well as vitamin E and vitamin C; which are still or carbonated, ready to drink products, non-ready to drink powders and concentrates.
Types of sports drinks:
- Isotonic- sports drinks with similar quantity of salt and sugar as human body
- Hypertonic- sports drinks with more concentration of salt and sugar than human body
- Hypotonic- sports drinks with lower concentration of salt and sugar than human body
In past few years sports drinks market has expanded at a substantial rate in Latin America. This expansion is demand-led since demand has increased significantly in the recent past. Following are the key drivers of Sports Drink Industry in Latin America:
- Emerging economies
Developing economies is characterized by rising consumer expenditure and such developing economies of Latin America are rising demand for sports drinks since income of middle class is rising laden to rising consumer expenditure.
- Increasing fitness obsession
Since people are becoming more aware about health advantages of body fitness, people ae fascinated to keep themselves healthy and fit. This improved health awareness due to aggressive health campaigns has resulted in escalating demand for sports and fitness drinks. Demand for low sugar or sugar free sports drinks, drinks rich in electrolytes, zero caffeine, natural and organic ingredients energy drinks, etc. is increasing.
- Rising young population
Since countries like Brazil and Mexico has enormous population of young individuals who are chief consumers of sports and fitness drinks, they are substantially increasing demand for such drinks aiding to expansion of industry. Brazil is largest consumer of sports drinks and large chunk of consumers of sports and energy drinks in Brazil constitutes of young population.
- Weather and climatic conditions
Latin American countries are near equator characterized by hot and humid climates and this is why demand for cold and refreshing sports drinks is enormous. Not only that, people are replacing soft drinks with fitness drinks considering its health advantages.
Major market players
Coca Cola, Red Bull, Grupo Petropolis, Monster Beverage Corp. are leading sports and energy drink brands in Latin America. Besides that, many international brands are also introducing their innovative flavors of energy drinks in Latin America.
Thus we can say that the Latin American sports and energy drink market is expanding at a high pace and is expected to intensify even more in future However, there are certain challenges to the industry which are listed as follows:
- Since many countries of Latin America are facing serious economic tribulations and immense poverty, it may affect consumer demand for energy drinks since people of such countries are finding it difficult to consume basic necessities of life.
- High sugar, caffeine and chemical content in such beverages is subject to huge criticism globally. People are shunning from consumption of such drinks due to their adverse effect on health.
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Ankur Gupta, Head Marketing & Communications