Electrolyte and Vitamin Water Market - Global Outlook and Forecast 2018-2023
This market research report on electrolyte and vitamin water market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by fortification (only electrolyte, only vitamin, and vitamin and electrolyte), by packaging (PET, glass, and can), by type (sweetened and unsweetened), by variants (unflavored and flavored), and by geography (North America, Europe, APAC, and ROW).
Electrolyte and Vitamin Water Market – Overview
The growing demand for functional drinks that strengthen the immune system, energize, counter stress, and support a healthy and active lifestyle is propelling the demand in the global electrolyte and vitamin water market. The gradual shift from high sugar and caffeinated beverages, carbonated drinks, juices, and other soft drinks to more natural, unprocessed, and healthy beverages will augment the growth of the global market. The government agencies are taking initiatives to promote alternative drinks, which are nutritional, healthy, and natural to curb the increasing incidences of obesity and diabetes across the world. Leading companies are leveraging celebrity endorsements, marketing campaign, and social media promotions to increase awareness and boost demand for this product in the global market. To differentiate these products from energy or sports drinks, players in the electrolyte and vitamin water market are advertising their products against sports and energy drinks such as Gatorade and Powerade. The growing demand for beverages with low calories, natural flavors, non-GMO, glutenfree, and organic beverages such as electrolytes, naturally processed juices, coconut water, and dairy products will revolutionize the global market.
The consumers are becoming more conscious and are focusing on reading the product labels and nutritional value before purchasing any commodities. Such changes in consumption pattern and lifestyle will encourage key vendors to launch new product portfolios and promote these beverages and its health benefits on various social media channels to gain a larger market share. Rapid urbanization and inclinational towards nutrient-rich beverages will fuel the development of the global market. The electrolyte and vitamin water market is estimated to generate revenues of over $8 billion by 2023, growing at a CAGR of around 10% during 2018-2023.
Electrolyte and Vitamin Water Market - Dynamics
The proliferation of innovative ingredients and new methods of adding vitamins or nutrients in water will drive the growth of the global electrolyte and vitamin water market. The prominent players are using various new ingredients to infuse and working on innovative ways to add the nutrients to the water so that the nutrients do not lose potency upon being soluble in water. The new method of infusing herb and oils in fortified water is helping companies to amp up the nutritional content without adding any sugar and excess calories to these beverages. Some of the popular infused water available in the global market are pomegranate oil, mint, turmeric, ginger, chamomile, and birch tree extract. These innovations will attribute to the demand for these products and boost the revenues in the global electrolyte and vitamin water market.
Electrolyte and Vitamin Water Market - Segmentation
This market research report includes a detailed segmentation of the market by fortification, packaging, type, variants, and geography.
Electrolyte and Vitamin Water Market – By Fortification
Zero calories fortified water to gain traction in the global electrolyte and vitamin water market during forecast period
The electrolyte and vitamin water market by fortification is categorized into only electrolyte, only vitamin, and vitamin and electrolyte. The vitamin and electrolyte segment is estimated to grow at a CAGR of approximately 11% during the forecast period. The increasing number of health-conscious consumer searching for healthier alternatives to high calorie and carbonated beverages is shifting to fortified water thereby, propelling the growth of the growth this segment in the global market. The top manufacturers are adding vitamins, electrolytes, and minerals to water to attract the health-conscious consumer segment and boost their market revenues. The launch of zero calorie and zero added sugar versions of the fortified water will augment the growth of the global market.
Electrolyte and Vitamin Water Market – By Variant
Flavored water is the most commonly available products in the global electrolyte and vitamin water market
The variant segment in the electrolyte and vitamin water market is segmented into flavored and unflavored type. The flavored segment dominated the market share in 2017, growing at an impressive CAGR of over 11% during the forecast period. Flavored products help improve the taste of the vitamin-enhanced water and to mask the unpleasant taste of some vitamins or additives in the beverage. The different types of variants used as flavoring agents used for these enhanced waters are fruit essence, concentrates, herbs, and artificial flavoring elements. Additionally, companies are deriving better cost savings by optimizing the input ingredient composition to increase their market revenues and gain large share in the global market.
Electrolyte and Vitamin Water Market – By Type
Sweetened water is expected to substitute carbonated drinks and juices in the global electrolyte and vitamin water market
The electrolyte and vitamin water market by type is classified into sweetened and unsweetened water. The sweetened segment occupied majority of the market share in 2017, growing at a CAGR of around 9% during the forecast period. The introduction of zero calorie variants is sweetened using the artificial sweeteners or organic sweeteners like extracts from the stevia leaves resulting in growing adoption of these products in the global market. Sweetened water has additives that improve the tastes of these beverages and encourages consumers to choose this water as an alternative to carbonated drinks and juices in the global market. The most prominent sugars used in these enhanced water is fructose, cane sugar, sucralose, and stevia with the composition changing with the product variant.
Electrolyte and Vitamin Water Market – By Packaging
HDPE and PET are most widely used packaging material in the global electrolyte and vitamin water market
The packaging segment in the electrolyte and vitamin water market is divided into PET, glass, and can. PET packagingdominated the market share in 2017, growing at a significant CAGR of over 10% during the forecast period. The benefits of using PET packaging materials include lightweight, cost advantages, and versatility in terms of foldability into various shapes and display in colors is propelling the growth of this segment in the global market. The use of PET packaging helps manufacturers with logistics cost savings and customization benefits to improve stackability. Also, innovative product design in terms of dispensation, sealability, and quality retention will augment the development of this segment in the global market during the forecast period.
Electrolyte and Vitamin Water Market – By Geography
Health mandates in North America to boost sales in the global electrolyte and vitamin water market
The electrolyte and vitamin water market by geography is segmented into North America, Europe, APAC, and ROW. North America occupied a significant market share in 2017, growing at a CAGR of approximately 6% during the forecast period. North America’s major retail consumption market is one of the primary factors boost the growth of the electrolyte water market in this region. The establishment of health mandates and food safety regulations will drive the adoption of these products in the North American market. The wide availability of vitamin water, electrolyte enhanced water, and bottled water enhanced with herbs and essential oils will augment the growth of the market in North America over the next few years.
Key Countries Profiled
The key countries profiled in the report are:
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