Electrolyte Mixes Market Development, COVID 19 Impact Analysis, Future Business Growth, New Invesment Plans and Forecast to 2024
Research Reports
Jan 12, 2021
Market Highlights
Electrolytes such as sodium, potassium, chloride, phosphorous, and magnesium are vital to maintaining the optimum functioning of the body as they perform various bodily functions and are integral components of tissues and bones. Electrolytes are lost in the form of sweat during strenuous exercise and due to heat, disease, and other conditions. The depletion of electrolytes can cause muscle cramps, mental confusion, lethargy, and uneven heartbeat.
However, the growth of the market may be hindered by the use of chemical dyes, preservatives, and artificial sweeteners in electrolyte beverages, which counter the other potentially healthy ingredients.
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The global electrolyte mixes market has been segmented on the basis of product type, distribution channel, and region.
Based on product type, the global electrolyte mixes market has been divided into RTD beverages, electrolyte powders, tablets and capsules, and others.
The RTD beverages segment is expected to be the largest during the review period. RTD beverages are easy to consume and come in various flavors. The major beverage manufacturers PepsiCo, Inc. and The Coca-Cola Company offer Gatorade and Powerade, respectively. Electrolyte powders are one of the most common types of electrolyte mixes to be dissolved in water and consumed. Certain major product examples include Energyzer from Vega Sport and Unived’s Rrunn. In recent years, electrolyte mix tablets and capsules are becoming increasingly popular due to their ease of consumption. Electrolyte gels and concentrates are the innovative product segments targeted at premium buyers and sports enthusiasts.
Regional Analysis
The global electrolyte mixes market has been regionally segmented into North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to be the dominant regional market due to product awareness and high per capita disposable incomes. However, the market in Asia-Pacific is expected to be the fastest growing during the forecast period due to the large population size and increasing per capita disposable incomes.
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On the basis of distribution channel, the market has been segmented into store-based and non-store-based. The store-based segment is expected to be larger due to easy product availability in convenience stores as electrolyte mixes are over-the-counter products. However, sales through online retail channels are expected to be higher than at brick-and-mortar stores in the coming years due to wide product availability, competitive pricing, and buying convenience. Hence, the non-store-based segment is expected to register the higher growth rate during the review period due to the expanding e-commerce industry in developing countries such as India and China.
Key Players
PepsiCo, Inc. (US), The Coca-Cola Company (US), Nuun (US), Skratch Labs (US), LyteLine, LLC (US), Vega (US), Ultima Health Products, Inc. (US), Non-Acidic Beverages LLC (US), FDC (India), and Ipro Sport Holdings (UK) are some of the key players in the global electrolyte mixes market.
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