Food and Services Industry - Market Research Report

  The global sports drink market size is expected to reach USD 69.23 billion by 2030, registering a CAGR of 8.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Sports drinks contain various constituents including electrolytes, energy, and water that can be consumed by athletes before, during, or after a competition or training. Growing demand for such drinks among individuals engaged in various physical activities is one of the major factors driving the market. In addition, rising health awareness among the younger population is expected to fuel the market growth. Rising consumer preference for sports beverages over sodas and other carbonated drinks owing to their respective association with sports and fitness activities. Despite the fact that these beverages were originally made for athletes and sportspersons, they have gained popularity among the common population as anytime drinks or energy drinks, especially among the teenagers and younger adults. Tak...

  The global root beer market size is anticipated to reach USD 1.09 billion by 2030, registering a CAGR of 4.6% over the forecast period, according to a new report by Grand View Research, Inc. Root beer is a North American drink that’s been traditionally made using the root bark of the sassafras tree. Sassafras was banned by the Food and Drug Administration (FDA) in 1960 owing to the presence of safrole, a carcinogenic component. Thus, most commercial root beers available in the market contain the artificial flavoring of sassafras. However, some companies, such as Hansen Beverage, use safrole-free sassafras extract to retain the authenticity of root beer. The global market is predominantly driven by the increasing demand for low-alcoholic beverages, the growing number of hotels, restaurants, & bars, and the increasing interest of millennials in exotic and new flavored drinks globally. With the changing lifestyle of consumers across the globe and increasing disposable income lev...