Electrolyte drinks market is forecast to grow due to significant rise in sports activities, growing demand for convenience beverages, and rise in spending on functional food & beverages. The Global Electrolyte Drinks Market size was valued at USD 20.7 Bn in 2020 is expected to reach USD 31.0 Bn by 2027, with a growing CAGR of 6.1 % during the forecast period
The growing demand of electrolyte drinks for sports activities and from the dependent or relevant industries are rising. Increasing spending on sport drinks in emerging countries, reopening of gym and sport centers after Covid-19 outbreak, and rise in awareness about health and contents in drinks are some of the key factors for the growth of the market.
The electrolyte drinks market is broadly segmented into types, distribution channels, and regions. Type is segregated into electrolyte drinks and sports drinks. Based on type, the sport drinks segment has gained a tremendous electrolyte drinks market share in 2020 and is expected to gain more during the forecast period. This can be attributed to their ability to hydrate the body because of the mix of carbohydrates and water. The increased health awareness is attributed to driving the segment in the electrolyte drinks market.
New sports drinks with innovative content are launched due to which drives the segment during the forecast period. For instance, in February 2021, GoodSport Nutrition, a Chicago-based start-up has launched GoodSport, a sports drink that is 97% dairy. In October 2020, BioSteel Sports Nutrition Inc. signed a distribution agreement with Manhattan Beer and Reyes Beer Division to distribute the company’s ready-to-drink sports beverages across the U.S.
The distribution channel segment in the electrolyte drinks market is segregated into e-commerce and brick & mortar. Based on distribution channels, the brick and mortar segment dominated the market. According to our research, brick and mortar accounted for a share of about 75.0% in 2020. Consumers opt for retail sales through such stores which provide a one-stop destination for other related beverages and foods that could drive the instances of purchase. The discounts available in hypermarkets and supermarkets also drive the sale promoting the segment in the market during the forecast period. However, online stores or E-commerce distribution channel is emerging in the electrolyte drinks market across all the geographies.
Global Electrolyte Drinks Market by Region Outlook (Revenue, USD Million, 2021-2027)
Based on region, North America accounted for the largest share of the electrolyte drinks market about 45% in the year 2020 of the global electrolyte drinks market. However, Asia Pacific is witnessing the fastest growth during the forecast period. The high demand is due to the presence of large fitness aware population, and investment by market players for marketing their products. Several sports players have signed a bond with companies to endorse their products. The local presence of big giants such as PepsiCo and Coca-Cola, high awareness about fitness and diet, and more purchasing power than developing regions are some of the key factors responsible for the dominance of the North American region in the global electrolyte drinks market.
Although sports drinks observed volume growth during the forecast period, the demand has accelerated after 2020 due to an increase in awareness about health in the Covid-19 pandemic. The fastest growth of the Asia Pacific region is attributed to increasing participation in sports activities, rising awareness about sports drinks, investment by international well-established market players, and increasing purchasing power.
The Global Electrolyte Drinks Market Segmentation:
Global Electrolyte Drinks Market by Type Outlook (Revenue, USD Million, 2021-2027)
Global Electrolyte Drinks Market by Distribution channel Outlook (Revenue, USD Million, 2021-2027)
Company Profiles and Competitive Intelligence
The key players operating in the electrolyte drinks market are: