The global electrolyte mix market is experiencing growth due to factors such as an increase in consumer interest in health and wellness, rise in demand for functional beverages, and surge in incidence of chronic diseases.
PORTLAND, Ore., June 14, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Electrolyte Mix Market by Type (Sports drinks, Electrolyte tablets, Electrolyte powders), by End User (Commercial, Residential), by Distribution Channel (Hypermarkets and Supermarkets, Specialty Stores, E-Commerce, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global Electrolyte Mix industry generated $17.7 billion in 2022 and is anticipated to generate $30.1 billion by 2031, witnessing a CAGR of 5.2% from 2023 to 2032.
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Prime determinants of growth
The increase in the trend of active aging and the rise in focus on healthy lifestyles among seniors have contributed to the demand for electrolyte mixes. However, health concerns associated with electrolytes hamper market growth. One of the primary concerns is related to the safety and effectiveness of the products. On the contrary, the surge in demand for natural and organic products is expected to provide prolific opportunities in the upcoming years.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$17.7 billion |
|
Market Size in 2032 |
$30.1 billion |
|
CAGR |
5.2 % |
|
No. of Pages in Report |
250 |
|
Segments Covered |
Type, End User, Distribution Channel, and Region |
|
Drivers |
Increase in consumer interest in health and wellness Surge in incidence of chronic diseases Rise in demand for functional beverages |
|
Opportunities |
Surge in demand for natural and organic products Rise in popularity of sports and fitness activities |
|
Restraints |
Availability of substitutes Limited consumer awareness |
Covid-19 Scenario
- The pandemic led to an increased focus on health and wellness, as individuals sought ways to boost their immune systems and maintain overall well-being. This resulted in a surge in demand for electrolyte mixes, as they are perceived as a convenient and effective solution for hydration and replenishing essential nutrients.
- The closure of gyms, fitness centers, and recreational facilities during lockdowns resulted in a shift in consumer behavior. With limited access to these facilities, some individuals reduced their consumption of electrolyte mixes typically used during physical activities, leading to a temporary decline in demand.
- With social distancing measures and restrictions on physical retail, there was a significant surge in e-commerce and online shopping. Many consumers turned to online platforms to purchase electrolyte mixes, leading to the growth of online sales channels and a shift in the purchasing behavior of electrolyte mix products.
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The sports drinks segment to maintain its leadership status throughout the forecast period
Based on type, the sports drink segment held the highest market share in 2022, accounting for more than half of the global Electrolyte Mix market revenue and is estimated to maintain its leadership status throughout the forecast period. The convenience and flexibility of sports drinks have made them increasingly popular. However, the electrolyte tablets segment is projected to manifest the highest CAGR of 6.1% from 2023 to 2032. The electrolyte tablet market has been growing steadily in recent years driven by an increase in demand for convenient and effective ways to replenish electrolytes and combat dehydration.
The commercial segment to maintain its lead position throughout the forecast period
Based on end-user, the commercial segment held the highest market share in 2022, accounting for more than two-thirds of the global Electrolyte Mix market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the rising consumption of electrolyte among sports academies, gyms, and hospitals. The residential segment is the fastest-growing segment and is projected to manifest the highest CAGR of 5.8% from 2023 to 2032. This is attributed to rising awareness regarding hydration and wellness among people.
The e-commerce segment to witness the fastest growth throughout the forecast period
Based on the distribution channel, the specialty stores segment held the highest market share in 2022, accounting for more than two-fifths of the global Electrolyte Mix market revenue, and is estimated to maintain its leadership status throughout the forecast period. However, the e-commerce segment is projected to manifest the highest CAGR of 7.4% from 2023 to 2032. Rigorous online marketing has increased the popularity of this distribution channel in recent years, complemented by vast options, availability of detailed information, discount & free home delivery offered by various e-commerce platforms.
North America to maintain its dominance by 2032
The North America region held the highest market share in 2022, accounting for around two-fifths of the global Electrolyte Mix market revenue and is estimated to maintain its leadership status throughout the forecast period. The Electrolyte Mix market demand in North America has been driven by a number of factors, including the trend toward sports, fitness, well and body hydration. However, the Asia-Pacific region is projected to manifest the highest CAGR of 6.9% from 2023 to 2032. This is attributed to an increasing focus on health and fitness in Asia-Pacific, with more individuals becoming conscious of the importance of staying active and maintaining overall well-being.
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Leading Market Players: –
- ATLANTIC ESSENTIAL PRODUCTS, INC.
- DR. PRICE’S VITAMINS
- FIRST ENDURANCE
- GU ENERGY LABS
- HALEWOOD LABORATORIES PVT. LTD.
- HAMMER NUTRITION
- NUTRICOST
- SKRATCH LABS, LLC
- ULTIMA HEALTH PRODUCTS, INC.
- SEQUEL NATURAL LLC
- DENVER BODEGA LLC
- GLAXOSMITHKLINE PLC
- UNILEVER PLC
- NESTLE S.A.
- PEPSICO, INC.
The report provides a detailed analysis of these key players in the global Electrolyte Mix market. These players have adopted different strategies such as new product launches, business expansion, partnerships, mergers, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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