The global Electrolyte Drinks Market was valued at US$ 20.7 Bn in 2020 is expected to reach US$ 31.0 Bn by 2027, with a growing CAGR of 6.1 % during the forecast period (2021-2027).
Electrolyte drinks consists of water, sugar, and electrolyte usually potassium and sodium. Concentration of electrolytes and sugar is based on application of the drink. Sport drinks can prevent dehydration as they are a rich source of electrolytes (potassium, sodium, magnesium, calcium) and carbohydrates. Though the content of carbohydrates varies widely, it normally contains a small amount of carbohydrate when compared to energy drinks. Energy drinks contain higher amounts of carbohydrate along with nutrients (niacin, riboflavin, vitamin B6 and B12, potassium, sodium, phosphorus, and taurine).
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Consumers are consuming quality beverages that have better taste, high nutritional value, and intrinsically wholesome. Taste is not only the sole criterion to satisfy consumer requirements. They are now aware of the ingredients they want or do not want in their food and drinks, and they are apprised of every calorie that will be consumed by them. The clean label trend is continuing to gain momentum in recent years.
Sports drink companies have faced some serious backlash for high percentage of sugar and calories use in their products. Hence market players are taking strategic decisions to expand in the electrolyte drinks Industry. For instance, in July 2021, PepsiCo Inc. announced its plans to reduce sugar content in carbonated drinks and ice teas by a fourth in the European Union and is anticipated to launch nutritious products by 2025 to get attention from health-conscious consumers.
Electrolyte Drinks Market Segmentation:
By Distribution Channel
Based on type, Sport drinks segment dominated the market in 2020 and expected to maintain it’s dominance during the forecast period
Based on types, the market has been segmented into electrolyte drinks and sports drinks. In 2020, sports drinks accounted for the maximum share of the electrolyte drinks market, and this can be attributed to their exceptional ability to hydrate body because of the mix of carbohydrates and water.
Sports drinks contain an optimal number of electrolytes and are utilized by athletes and individuals engaged in sports activities and workouts. Sports drinks are capable of replenishing the electrolytes and lost minerals. However, many brands are high in sugar and calories as well. Gatorade, Powerade, BodyArmor SuperDrink, Lucozade Sport, and Pokari Sweat are some of the popular sport drinks operating in the electrolyte drinks market.
Based on distribution channel, brick and mortar to dominate the electrolyte drinks market in forecast period
Brick and mortar segment accounted for the largest share of the electrolyte drinks market in 2020. It includes supermarkets, convenience stores, and specialty stores. Brick and mortar segment accounted for a share of about 75% in 2020. Consumers opt for retail sales through such stores due to availability of various key brands under one roof. Also, such stores provide a one-stop destination for other related beverages and foods that could drive the instances of purchase.
However, online stores or E-commerce distribution channel is emerging in the electrolyte drinks market across all the geographies. This can be attributed to availability of better product range wherein offerings from various sellers are effectively aggregated and compared, which enables better purchase decision for consumers. Additionally, restrictions due to Covid-19, accelerated the demand of electrolytes and sports drinks through online channels in 2020.
Based on geographical region, North America is expected to dominate the electrolyte drinks market during Forecast period.
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 America region in the global market. However, Asia Pacific is projected to witness the fastest growth during the forecast period.
Company Profiles and Competitive Intelligence
The key players operating in electrolyte drinks market are:
The report also provides in-depth analysis of electrolyte drinks market dynamics such as drivers, restraints, opportunities, and challenges
COVID-19 Impact on the Electrolyte Drinks Market Analysis
Going forward, the market revival is expected to be more evident in late 2021 where the enhanced electrolyte drinks market is expected to witness rising sales in non-peak seasons in major economies. This is primarily driven by the urge to consume more healthy and alternative beverages to support the health and immune system. The vitamins and electrolytes in the drink are considered to be more helpful for healthy living. Thus, vendors are expected to meet the sudden boom in demand across geographies through appropriate sourcing and processing as the trade practices are expected to be liberalized.
However, the COVID-19 pandemic affected the sales of packaged beverages across the globe, especially in the U.S. and EU nations, where the market is well established. The demand for enhanced bottled water is higher during the summer season in most countries. This peak season has been affected by the pandemic owing to the distribution and supply shortages following lockdowns in almost all major markets. As the demand increases, warehouses of the brands, that were busy preparing for the spring and summer demands every year, have been affected in 2020 as stockpiles are quickly depleting.
The report also provides in-depth analysis of key trends in electrolyte drinks market
The report also provides in-depth analysis of recent news developments and investments
The unique insights provided by this electrolyte drinks market report also includes the following:
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