Source: BlueWeave Consulting

Global Electrolyte Mixes Overview

Electrolyte-enhanced beverages, or sports drinks, help replenish electrolytes, water, and energy lost during workout. These drinks often contain sodium, magnesium, potassium, and calcium, which help combat dehydration, avert muscle cramping, and delay fatigue. They help in supporting a healthy cardiovascular system, besides regulating blood pressure and balancing tissue fluid, helping with occasional symptoms of dehydration after excessive diarrhea, vomiting, or sweating.

Global Electrolyte Mixes Market Trends

Growth Drivers

Surge in the Number of Health-Conscious Consumers Driving Sales

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. Despite the fact that industry innovation has been steady over the last decade and continues to this day, few brands are focusing on increasing the health component of their products in order to appeal to the growing health-conscious population worldwide.

Also, with the health and fitness industry growing at an alarming rate, functional waters containing electrolytes have been growing in popularity around the world. Several notable companies have joined the market in recent years, sensing the increasing demand for fitness products. Furthermore, the consumer understanding of the benefits of electrolyte use has resulted in a significant increase in overall demand for electrolyte mixes around the world. A growing number of health-conscious buyers, as well as a growing number of customers participating in a variety of athletics and outdoor sports activities, has sparked global demand for electrolyte mixes.

Other factors expected to accelerate the growth of the electrolyte mixes market around the world include an increase in the number of health-conscious customers around the world, engaging marketing campaigns, and a growing emphasis on launching electrolyte mixes with ground-breaking packaging.

Opportunities

Adoption of Innovative Marketing Strategies

Due to the increasing demand for these mixes and health-related items, a range of well-known brands as well as small-scale businesses have entered the global market, resulting in increased market competition. Various brands are also engaged in R&D activities to expand the overall effectiveness and quality of their products. Additionally, beverage firms are diversifying their product range to reinforce their foothold in the competitive market. For instance, Gatorade introduced Bolt24 to progress its sales and boost more consumers to drink regardless of their fitness routine. Also, Gatorade launched a new product line, Power Water and Ultra. The product, Gatorade Ultra, consists of 50% more electrolytes than the classic version of the Gatorade.

Additionally, in 2020, Liquid I.V. launched new electrolyte drink mix that emphases on improving hydration. The move is expected to increase the company's market share in the United States. The electrolyte drink is projected to be sold on both offline as well as online distribution channels.

Restraints

Excess Use of Electrolyte Drinks can have Negative Impact on Health

Excessive consumption of electrolyte beverages has been linked to health risks such as excessive urination, insomnia, and irregular heart rhythms, which is a major market restriction. Increased electrolyte consumption can result in the following disorders:

Hypercalcemia - Hypercalcemia is a condition in which the calcium level in blood is above normal. Too much calcium in blood can weaken bones, create kidney stones, and interfere with how your heart and brain work.

Hyperchloremia - Hyperchloremia is an electrolyte disturbance in which there is an elevated level of the chloride ions in the blood.

Hypermagnesemia - Hypermagnesemia is an electrolyte condition in which the blood contains an excessive amount of magnesium. Weakness, confusion, slowed breathing and slowed reflexes are all symptoms of this condition.

Hyperphosphatemia - Hyperphosphatemia is an electrolyte condition in which phosphate levels in the blood are abnormally high. The majority of people with this disorder have no symptoms, while others experience calcium deposits in their soft tissue.

Hyperkalemia - Hyperkalemia is the medical term for a higher-than-normal potassium level in the blood.

Hypernatremia - The medical term for getting too much sodium in the blood is hypernatremia.

Impact of COVID-19

The increasing occurrence of coronavirus had only a minor impact on the overall growth global electrolyte mixes market. Several customers, such as athletes and fitness industry professionals, have become aware of these mixes and have continued to consume them for improving overall body fitness owing to which there has been a gradual increase in the demand for electrolyte mixes. Due to the COVID-19 pandemic, store-based sales were poor, but online distribution saw an increase in volume. The opening of gyms, ongoing sporting matches, and football leagues all contributed to the market's growth in the post-pandemic scenario.

Global Electrolyte Mixes Market: By Product Type

Based on product type, the global electrolyte mixes market is bifurcated into RTD beverages, electrolyte powders, tablets, and others. RTD beverages dominated the market in 2020 with a remarkable share in the market and was worth USD 355 million and projected to grow the same in the forecast period. This growth can be attributed to RTD beverages' potential to save time, and their widespread use by athletes and fitness enthusiasts. Electrolyte powders accounted for the second-largest share of the global electrolyte market and this trend is expected to continue in the coming years.

Source: BlueWeave Consulting

Global Electrolyte Mixes Market: By Sales Channel

Based on 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 . This growth can 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

Geographically, the electrolyte mixes market is categorized into North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America. North America leads the electrolyte mixes market and is expected to maintain its dominance during the forecast period. The involvement of major players, technological advancements, rising awareness among individuals, and high demand for beverages in the sports and fitness industry are all contributing to the industry's growth. The European market for electrolyte mixes is the second-largest in the world.

Competitive Landscape

The presence of leading players in this marketspace greatly decreases the opportunities for new entrants to the market as it is difficult to match the high capital requirements. Some of the key players include 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, others prominent players. In order to improve their production capability, product portfolio, and provide competitive differentiation, companies are increasingly participating in acquisitions, alliances, and mergers.

Recent Developments

·         On 1 June 2020, Nuun launched a new product to improve its product portfolio. Nuun has gone all in with a start-to-finish line of nutrition that is made for the long/intense workouts. Nuun’s new Prime is intended to be a pre-workout supplement that helps prepare you for longer/more intense training.

·         In June 2020, Gatorade, a Pepsi Brand, announced that the company is all set to launch a new product line, Power Water and Ultra. The new product, Gatorade Ultra, consists of 50% more electrolytes than the classic version of the Gatorade.

Scope of the Report

By Product Type

Ø  RTD Beverages

Ø  Electrolyte Powders

Ø  Tablets, Pills & Capsules

Ø  Others 

By Sales Channels

Ø  Stored Based

o    Hypermarkets & Supermarkets

o    Convenience Stores

o    Others

Ø  Non-Stored Based

By Region

Ø  North America

Ø  Europe

Ø  The Asia-Pacific

Ø  Rest of the World

FAQs:

1.    What is the market size of the global electrolyte mixes market in 2020?

Answer: The global electrolyte mixes market was worth USD 3555 million in 2020.

2.    What are the major factors driving the growth of the global electrolyte mixes market?

Answer:  The major factors driving the growth of the global electrolyte mixes market are surge in number of health-conscious consumers to drive sales and consumers turn to electrolytes to prevent dehydration; product sales to grow in upcoming period.

3.    Who are the key players in the global electrolyte mixes market?

Answer:  The key 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, others prominent players.

4.    Which product type accounted for the largest share in the global electrolyte mixes market?

Answer: RTD beverages accounted for the largest share in the global electrolyte mixes market.

5.    At what CAGR the global electrolyte mixes market is growing?

Answer: The global electrolyte mixes market is growing at a CAGR of 11.07%.