Electrolyte Mixes Market Thriving: Projected to Reach USD 6635 Million by 2026
Published | April 2021
A study recently conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that The global electrolyte mixes market was worth USD 3555 million in 2020 and is expected to reach USD 6635 million in 2026 at an impressive 7.87% CAGR during the forecast period One of the prominent aspects that continue to influence global developments in the drinks industry is the ever-changing consumer behavior around the world. Electrolyte mixes are a major trend that has emerged in the beverage industry. Consumption of electrolyte mixes by customers to avoid dehydration accounts for a significant number of sales of electrolyte mixes, thereby driving the growth of the global electrolyte mixes industry.
Consumers Turn to Electrolytes to Prevent Dehydration; Product Sales to Grow in Upcoming Decade
As the number of health-conscious and fitness-friendly consumers grows around the world, the demand for electrolyte mixes, especially in the developed regions, has been witnessing impressive growth. Furthermore, as more customers pursue consulting services from dieticians, food experts, and fitness coaches, among others, awareness levels about the benefits of electrolyte mixes have increased, resulting in steady growth in demand for electrolyte mixes. Dehydration from excessive vomiting and diarrhea is particularly dangerous for infants and children. To avoid dehydration, the American Academy of Pediatrics suggests using an oral rehydration solution as soon as symptoms appear.
Furthermore, since electrolyte mixes play an important role in improving human body functions and controlling blood pressure, their popularity has grown in recent years all over the world. To gain an advantage, players in the existing electrolyte mixes market are likely to concentrate on implementing engaging marketing campaigns, and raising awareness about the advantages of electrolyte mixes, along with pricing strategies.
Because of consumer convenience, the availability of different varieties, and consistent research activities, oral rehydration solutions have gained worldwide popularity – a factor that is expected to provide an impetus for the growth of the global electrolyte mixes market during the forecast period. In 2019, Gatorade Perform generated a remarkable share in C-store sales in the United States. The introduction of Gatorade Zero in 2018 aided the sports drink category's recovery from negative volume growth in 2017.
Growing Demand for Sports Drink
The global market for electrolyte mixes is growing due to the increased use of these items and a snowballing demand for energizing beverages. Furthermore, the growing emphasis on physical fitness, combined with increased spending levels, has fueled the global demand for these mixes. All athletes must stay hydrated in order to perform at their best. Thus, athletes and sportsmen around the world prefer consuming electrolytes to reenergize their bodies during workouts. Furthermore, these products are in high demand around the world due to their use in the treatment of diarrhea as well as their nutritional and medicinal benefits.
Furthermore, the market is being driven by increasing health consciousness consumers, especially among athletes and sportspeople, since simply drinking water does not provide all of the necessary minerals needed by the body.
Store-Based Segment Holds the Largest Share in the Global Electrolyte Mixes Market in 2020
Based on the sales channel, the global electrolyte mixes market is grouped into store-based and non-store-based. The store-based segment held the largest share in the market in 2020 with a market value of USD 355 Million It is expected to be the fastest-growing segment during the forecast period as well. This growth can be attributed to the fact that they offer a diverse range of products belonging to different brands. The growth can also be due to the fact that consumers can see whether a product is original or not and can request discounts. Furthermore, a wide variety of goods are available in store, in various flavors and weights, which aids the consumer in purchasing, thus, driving the market growth for store-based distribution channels.
Global Electrolyte Mixes Market: Regional Insights
Based on region, the global electrolyte mixes market is segmented into North America, Europe, the Asia-Pacific, and the Rest of the World. North America dominates the global electrolyte mixes market and is expected to maintain its share owing to the increasing consumer preferences and change in lifestyle of people. In addition, the rising sports industry in the region further drives the market growth for the electrolyte mixes market.
Impact of COVID-19 in industry
The rapid spread of COVID-19 has given the global electrolyte mix market a high degree of certainty. Despite the shutdown of major industries, governments of different countries around the world are taking preventive steps, such as social distancing norms to limit the spread of COVID-19 and reduce the risk of infection. There has been an increase in demand for electrolyte mixes as a result of global lockdown, which led to the closure of gyms. As soon as the COVID-19 was declared a pandemic, people started considering their health as an important factor in combating the virus. During the lockdown, gym instructors across the globe started the trend of offering online exercise courses, including both solo and group lessons. Sports personalities also began inspiring people about good health, which influenced people to work out, resulting in a surge in the demand for electrolyte mixes. In the post-COVID case, the market is expected to expand at a faster pace.
The leading players in the global electrolyte mixes market are PepsiCo, The Coca-Cola Company, LyteLine, LLC, Vega (CA), Ultima Health Products, Inc., Nunn, Non-Acidic Beverages LLC, FDC Limited, Ipro Sport Holdings and Skratch Labs, and others prominent players. Since it is difficult to match the high capital requirements, the presence of leading players in this market space significantly reduces the prospects for new entrants. Additionally, the market players are rapidly engaging in acquisitions, partnerships, and mergers in order to boost their production capacity, product range, and provide competitive differentiation.
For instance, on 12 February 2021, Revolution Esports, an organization established to create a sustainable infrastructure for the future of the esports industry, announced a multi-year partnership with healthy drinks company iPRO (a company dedicated and passionate about supporting health and wellbeing) with a strong vision on securing market positions as the potential brand leaders in the retail 'Wellbeing Category.
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The in-depth analysis of the report provides detailed information about the growth potential, upcoming trends, and statistics of the global electrolyte mixes market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the electrolyte mixes market, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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