Overview

• According to a new study released by Research and Markets, sales in sports drinks increased by 30.2% in March due to panic-buying and an increase in consumers' preference for sports drinks for electrolytes when feeling sick.
• For example, Seattle and King County Public Health issued a care guideline for those with COVID-19 symptoms, which includes advice to drink diluted sports drinks. This is also consistent with the advice by the University of Maryland Medical Center.
• The latest market report "Functional Beverages Global Market Report 2020-30" projects a decline in the global functional beverages market, from $128.66 billion in 2019 to $125.39 billion in 2020 at a CAGR of -2.54%. The report cites COVID-19 as the chief cause of the decline.
• However, the report adds that the market is "expected to recover and reach $158.28 billion in 2023 at CAGR of 8.08%." Segments covered in the report are energy drinks, sports drinks, nutraceutical drinks, dairy-based beverages, juices, enhanced water and others.
• According to an article by Food News Business, there has been a trend in DIY and make-at-home products currently being accelerated by the impact of COVID-19. The article notes that "sales of DIY beverage kits have been on the rise at online retailer Uncommon Goods, for example." However, these products are mostly for other types of drinks such as cocktails or bubble tea.
• Both energy drinks and coffee sales have taken a hit, according to Forbes. However, this does not include sports drinks.
• According to IRi Worldwide, sports drinks are among products with rising sales at stores. It also notes that shopper behavior will continue to shift to "online purchasing of CPG products with click and collect at grocery, club, mass merchandisers and more, as more cities implement 'stay at home' orders." However, this projection does not take into account the plans to ease restrictions.

Summary