Published: Nov, 2018
Transparency Market Research states the global market for sports food is expected to witness a progressive growth in the coming years due to rising focus towards sports and recreational activities among people. The presence of numerous players in the sports food market has made the vendor landscape to be highly fragmented. Prominent players are focusing on creating new food products with new and unique taste in order to gain more revenue in the market and stand out in the crowd. Additional nutrients and new discovery of flavors are introduced in order to give tough competition to their opposing counterparts.
Some of the top participants of the global sports food market are Nestlé, Dr Pepper Snapple, Abbott Laboratories, GlaxoSmithKline, and Red Bull. Currently these vendors are putting more focus towards the developing nations in order to unleash the bag full of opportunities that lays in these regions because of lack of attention.
According to the report by TMR, the global sports food market is expected to reach a value of US$88.76 bn by 2022. The forecast period is set from 2017 to 2022 and the market may be growing at a remarkable CAGR of 6.90% within this period. In terms of product, the market is dominated by the protein-based food products and energy sports as compared to their counterparts. In terms of distribution channel, the market is seen to be contributing major shares from online channels.
From a geographical perspective, the global sports food market is likely to be having a lion’s share from North America with an accelerating CAGR of 7.70% during the forecast period. The market t contribution to the world from North America alone is projected to be worth US$36.73 bn by the end of 2022 from US$25.35 bn as per the 2017 records.
Rising Trend of Physical Fitness to Fuel Market Growth
The rise in awareness about health and hygiene have urged people to start physical activities again. The indoor gaming of past decades have again made way to staying outdoors and having fun recreational activities. Sports being the best physical involvement is boosting the market for sports food as the body tends to utilize all the essential nutrients and absorb them as per the body demands, thus providing a healthier lifestyle as compared to those who prefer to stay back home. The rise in urbanization also has a remarkable impact on the lives of people as lifestyle demands health club enrolments, and enrolment in gymnasiums and fitness centers. The increase in the number of gymnasiums and other fitness and health centers all around the world is boosting the overall market for sports food at a global level.
Another factor fueling the sports food market is the efficient and innovative product development by vendors of sports food. The unique and massive advertising and marketing tactics have helped the sports food market to grow substantially. Thus high preference and consumption of sports food items have been surged in the past few years and will continue to increase with the advent of time.
Rising Disposable Incomes Accelerating Growth of Food Sports Market
Other macro-economic factors like increase in disposable incomes and the surging employment of people and their interest and involvement in sports is likely to boost the future market of sports food in the future.
The increase in the number of sports activities and global level competition like that of summer and winter Olympics is another important factor boosting the market for sports food all around the world. Fitness and health cautious people are also more into consumption of sports food and their preference is generating more revenue into the market in the long run.
The above presented review is based on a TMR report, titled, “Sports Food Market (Product - Protein, Energy, Pre-workout, Rehydration, Meal Replacement; Gender - Female, Male; Distribution Channel - Online Stores, Hypermarket and Supermarkets, Convenience Stores, Drug Stores) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022”.
The global sports food market can be segmented as follows:
Global Sports Food Market by Product
- Energy Sports Food
- Protein-Based Sports Food
- Rehydration Sports Food
- Pre-Workout Sports Food
- Meal Replacement Sports Food
Global Sports Food Market by Distribution Channel
- Drug Stores
- Supermarkets and Hypermarkets
- Online Stores
- Convenience Stores
Global Sports Food Market by Gender
Global Sports Food Market by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC countries
- South Africa
- Rest of Middle East & Africa
- North America
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.”
90 State Street, Suite 700
Albany, NY 12207
USA - Saudi Arabia Toll Free: 866-552-3453