April 8, 2019
So, the small but emerging sports drink market is getting heads on competition as Coca-Cola is all set to launch its global sports drink ‘Powerade’ in India within the next two months ahead of the ICC World Cup to race with PepsiCo’s Gatorade.
The maker of soft drinks Coke, Thums Up and Sprite has been hedging portfolio risks by expanding sugar-free variants of its brands, smaller packs and picking up associations with large sporting events such as the ICC World Cup and the IPL T20 League.
Powerade, which is among the US beverage maker’s billion-dollar retail sales plus brands globally, has been so far available only through imports in the country. This will be Coca-Cola’s second attempt to launch locally-made Powerade in India.
An email query to Coca-Cola India remained unanswered till the time of going to press.
The millennial of today resonate with the functional sports drinks as good off take is seen at retail stores. However, unlike a couple of years back, now there are dozens of specialised hydration products for consumers to choose from.
The Indian market, however, continues to be minuscule in comparison and a recent report by Research and Markets forecast the global sports drink market to touch $28.6 billion by 2023, from $22.2 billion in 2017, growing at 4.3%.
It is important to develop the category as versus global consumption, in India it is more of a night consumption or mixer drink. Besides, women are less convinced about health benefits of the category compared to men.