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Global electrolyte drinks market size was valued at $32,518.8 million in 2020, and is projected to reach $56,472.7 million by 2030, registering a CAGR of 5.3%
PORTLAND, OREGON, UNITED STATES, February 18, 2023 /EINPresswire.com/ — The isotonic segment was the highest contributor to the market, with $17,533.5 million in 2020, and is estimated to reach $31,010.4 million by 2030, at a CAGR of 5.5% during the forecast period.North America was the highest revenue contributor, accounting for majority of the global market share in 2020, and is estimated to grow at a CAGR of 4.0% through the forecast period.
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Factors boosting the market include a growing athlete community and an increase in the number of athletes in emerging countries. Furthermore, rising consumer interest in physical fitness, as well as an increase in the number of fitness centers and health clubs, are likely to drive market expansion. Manufacturers are concentrating their efforts on diversifying their product portfolio by developing new flavors with extra health benefits. Due to the popularity of sports beverages among teenagers and adults, they are targeting various age groups.The market’s growth is being hampered by consumer preference for natural and organic products, which have fewer adverse effects. However, the development of electrolyte drinks containing natural components, such as natural sweeteners, is projected to drive market expansion by allowing manufacturers to add value to their products.
For the sake of the analysis, the electrolyte drinks market is segmented on the basis of, type, packaging distribution channel, and region. By type, the market is classified into natural and artificial. By packaging PET bottles, carton, and others. By distribution channel, the market is divided into hypermarkets/supermarkets, drug stores, wholesale stores, e-commerce, and others (convenience stores and discount stores). By region, the market is studied across North America (U.S., Canada, & Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific) and LAMEA (Brazil, Argentina, the UAE, South Africa, and the Rest of LAMEA).
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Based on electrolyte drinks market forecast by type, the isotonic segmentaccounted for the highest share in 2020. The isotonic segment is growing manifold due to rapid increase in consumption of these drinks by athletes and normal consumers. The primary goal of an isotonic drink is to increase mineral, water, and nutrient intake, as well as to improve athletic performance. Such advantages of isotonic electrolyte drinks will keep the category increasing at a faster rate than the overall market over the forecast period.However, the hypertonic segment is expected to witness the modestgrowth rate through the forecast period.
On the basis ofpackaging, the PET bottles segment accounted for the largest portion of the global electrolyte drinks market share in 2020, and is estimated to dominate the market throughout the forecast period. PET bottles are the most widely utilized packaging material by beverage companies across the world. The PET bottle business has made significant growth since the introduction of technological breakthroughs in PET bottles. During the forecast period, the introduction of new technologies is likely to promote the growth of PET bottles.
Depending on electrolyte drinks market analysis by distribution channels, the hypermarkets/supermarkets segment accounted for the highest share in 2020.Consumers benefit from the convenience of shopping for a variety of items under one roof at hypermarkets/supermarkets. Hypermarkets/supermarkets offer their customers a premium advantage, such as the availability of a wide range of products, product discounts, sales representative assistance, and quick checkouts. During the anticipated period, the advantages are expected to fuel hypermarket/supermarket growth in forecast period.
Region wise, Asia-Pacific was the fastest growing regional segment throughout forecast period, followed by Europe and North America. China and the U.S. were the most prominent country accounting for a sizeable share in the global electrolyte drinks market.
Key players in the electrolyte drinks market have relied on product launch as their key strategic move to stay relevant in the global market. The key players in the electrolyte drinks industry profiled in the report are The Coca Cola Company, Pepsico, Inc., The Kraft Heinz Company, Pedialyte (Abbott Laboratories), PURE Sports Nutrition, The Vita Coco Company, Inc., SOS Hydration, Inc., Drinkwel, LLC, NOOMA, and Kent Corporation.
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Key Findings Of The Study
On the basis of type, the isotopic segment is projected to witness the highest CAGR of 5.5% in terms of revenue during the forecast period.
Depending on packaging, the PET bottles segment is expected to dominate the electrolyte drinks market through 2021–2027.
By distribution channel, the hypermarkets/supermarkets segment occupied the largest market with maximum value share in 2020, and is expected to grow at the significant CAGR during the forecast period.
U.S. is the largest country in terms of demand and production of electrolyte drinks market in 2020.
Asia-Pacific is anticipated to witness the highest growth rate, registering a CAGR of 7.2% from 2021 to 2027.
Sports Nutrition Market:
Asia-Pacific Sports Nutrition Market:
Europe Sports Nutrition Market:
Isotonic Drinks Market:
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Article originally published on www.einpresswire.com as Electrolyte Drinks Market Share Worth $56,472.7 Million by 2030 With CAGR of 5.5%