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Electrolyte Drinks Market 2024-2033: Global Outlook, Industry Share, Latest Trends And Major Players
Electrolyte Drinks Market Share
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According to The Business Research Company's, The electrolyte drinks market size has grown strongly in recent years. It will grow from $29.61 billion in 2023 to $31.54 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to sports and fitness trends, health and wellness awareness, rising incidence of dehydration, marketing and endorsements, expansion of fitness culture.
The electrolyte drinks market size is expected to see strong growth in the next few years. It will grow to $41.12 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to rising demand for natural ingredients, expanding consumer base, partnerships with health institutions, environmental sustainability, global health crises. Major trends in the forecast period include functional ingredients and nutrients, natural and clean label products, innovative flavor profiles, sustainable packaging, sports-specific electrolyte formulations.
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Market Drivers and Trends:
The rise in sports activities is expected to propel the growth of the electrolyte drinks market going forward. Sports refers to a type of human activity that involves effort and ability as the main objective of the activity, with aspects such as competition or social participation, and where regulations and norms of behavior governing the behavior exist officially by organizations. Electrolyte drinks are commonly used by athletes for rehydration, electrolyte balance, and energy support that are lost during strenuous exercise as well as to enhance endurance and stamina. For instance, in May 2022, according to a report issued by the Sports & Fitness Industry Association (SFIA), a US-based trade association of sports and fitness brands, participation in sports and activities increased by 1.3 percent in 2021 compared to 2020. Therefore, the rise in sports activities is driving the growth of the electrolyte drinks market.
Major companies operating in the electrolyte drinks market are developing product innovations to strengthen their position in the market. For instance, in October 2022, Nutrabolt, a US-based nutrition brand, launched XTEND Healthy Hydration to enhance hydration and recovery of amino acids for active lifestyle consumers. XTEND Healthy Hydration comes in three wonderful flavors such as lemon-lime, strawberry banana, and raspberry lemonade. It provides clients with a unique zero-sugar hydration boost while also being a good source of D and B vitamins and boosts hydration by supplying six essential electrolytes through efficient amino acid transport utilizing a new approach.
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Major Key Players of the Market:
PepsiCo Inc., Abbott Laboratories, The Coca-Cola Company, GSK plc, Danone S.A., Red Bull GmbH, Schweppes Australia Pty Ltd, Pocari Sweat (Otsuka Pharmaceutical Co. Ltd.), BODYARMOR, Lucozade Ribena Suntory Limited, GU Energy Labs, Liquid IV, Nuun Hydration, Vega Sport, Biolyte, LyteZone, Hi-Lyte, LifeAID Beverage Co., Hydrant Inc., Kill Cliff, Skratch Labs, Drip Drop Hydration Inc., AQUAhydrate, Hydralyte, Ultima Replenisher, PURE Sports Nutrition, Tailwind Nutrition, NOOMA, REIZE Energy Drink, SOS Hydration Inc, 4 Purpose Energy, BeMixed, Clean Cause, Cure Hydration, Electrolyte Water Co., LMNT (Elemental Labs), ORAL I.V., OXIGEN Water, SOS Kids, Tailwind Nutrition, The Perfect Sports Drink, VAYA, ZeroWater, ZYM Catapult
Electrolyte Drinks Market 2024 Key Insights:
• The electrolyte drinks market size is expected to see strong growth in the next few years. It will grow to $41.12 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
• Sports Activity Surge Fuels Growth Of Electrolyte Drinks Market
• Innovative Healthy Hydration With Zero-Sugar Boost And Essential Electrolytes
• North America was the largest region in the electrolyte drinks market in 2023
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