The electrolyte mix industry has experienced significant growth over the past few years because of changing consumer habits. One key habit that’s changed is an increased tendency toward healthy eating and drinking. People in many countries, including the United States, have begun to emphasize personal wellness. As a result, buyers are looking for healthier alternatives to sodas that support — instead of hinder — personal wellbeing.
A new study on the global electrolyte mix industry by Transparency Market Research cites this push toward healthier living as a great contributor to recent market success. “While innovations across the food & beverages sector have occurred at a consistent pace over the past decade, at present, brands are aiming to increase the health quotient of their products to cater to the growing health-conscious population worldwide,” concludes the study, adding: “Functional waters mixed with electrolytes have garnered considerable popularity around the world, as the fitness market expands exponentially.”
Specifically, the analysis says, consumers have become more aware of dehydration as a problem. Studies show that most people worldwide suffer from dehydration, which in some cases causes vomiting, sweating, and diarrhea. An intake of electrolytes has a slew of health benefits that address the unfortunate results of dehydration.
Noticing the uptick in demand for fitness products, major players have been quick to enter the market in recent years, resulting in a more competitive and innovative market.
“As consumer preference for healthy products is increasing, manufacturers in the beverages industry are developing innovative products to attract health-conscious consumers,” according to the study. “The manufacturers have developed novel energy and sports drinks, which contain electrolytes. Some companies are adding a high amount of potassium and low quantity of sodium in sports drinks. Therefore, increasing addition of electrolytes in beverages is estimated to propel the market.”
These recent trends have contributed to today’s strong market for electrolyte mixes. As of 2020, the electrolyte mixing industry was worth $3.2 billion. The most popular subcategories are ready-to-drinks and tablets, with the former holding the largest share: around 33.6% of the market. The leading packaging segment of the global market is pouches & sachets, comprising 34.7% of the market share. North America is the leading contributor to the market, followed by Europe.
Key players in the market include:
- Abbott Laboratories
- Fonterra Co-operative Group Limited
- PepsiCo, Inc
- Prestige Brands Holdings, Inc.
- LyteLine, LLC
- Vega (CA)
- The Coca-Cola Company
- BA Sports Nutrition, LLC.
- Ultima Health Products, Inc
Per Transparency Market Research, brands are differentiating themselves in a variety of ways. The first is the adoption of “innovative marketing strategies.” Second is strong supply chain facilities. The third is catering to a strong trend toward healthier beverages within the market.
“As the electrolyte mixes market is highly regulated, specifications of the product supplied determine the positioning of the product and its application,” reads the study. “Manufacturers have also developed vegan, non-GMO and gluten-free electrolyte mixes to increase consumer base. Companies are opting for such certifications to build consumer trust on their products, which is further estimated to have a positive influence on product sales.”
Many companies are also taking advantage of growing global demand, expanding into developing regions, which gives them an edge over other, more geographically limited competitors.
The market analysis predicts that growth in electrolyte mixes isn’t going to stop anytime soon. In fact, per the report, the market should reach $9.7 billion by 2030—over $6 billion in growth. This is based on a compound annual growth rate of 11.7%, which is fairly significant.
As Transparency Market Research writes, “Surge in the number of health-centric consumers worldwide, engaging marketing strategies and increasing focus on introducing electrolyte mixes with innovative packaging are some of the other factors expected to fuel growth of the global electrolyte mixes market during the forecast period.”
About the Author
Jemima is a journalist who enjoys reporting on business, particularly small business and entrepreneurship.