The global sports nutrition products market is extremely competitive with a presence of a large number of players operating in the market, states a research report by Transparency Market Research. The prominent players such as The Coca-Cola Co., Pepsi Co., Yakult Honsha Co Ltd., Abbott Nutrition Inc., Reckitt Benckiser Group Plc, and Nestlé S.A. are collectively dominating the global sports nutrition products market and are making notable efforts to maintain their position in the forecast period. The swift pace of urbanization in developing nations and the increasing number of mergers and acquisitions are some of the primary factors estimated to support the leading companies to grow substantially in the coming years. In addition, the growing emphasis on expansion of product portfolio and innovations is likely to accelerate the market’s growth.
According to the study by Transparency Market Research, in 2015, the global market for sports nutrition products was worth US$35.01 bn and is expected to reach a value of US$52.55 bn by the end of 2020. The market is likely to register a healthy 8.50% CAGR between 2014 and 2020.
Rising Consumer Participation in Different Sports to Bolster North America Market
From a geographical viewpoint, in 2015, North America led the global sports nutrition products market and is expected to continue its dominance throughout the forecast period. This region is expected to account for a share of 18.10% of the global sports nutrition products market by the end of 2020. The growing awareness regarding the benefits and consuming sports nutrition products and the rising number of consumers participating in several sports are some of the primary factors likely to accelerate the growth of the sports nutrition products market in North America. In addition, the rising inclination of consumers towards a healthy lifestyle is anticipated to generate promising growth opportunities in the near future.
Among the key product type, the sports drinks segment is expected to lead the global sports nutrition products market and account for a share of 60.1% by the end of 2020. The increasing health consciousness among consumers and the easy availability of products are the vital factors anticipated to fuel the growth of this segment throughout the forecast period. In addition, the introduction of sugar-free sports drinks is likely to generate lucrative opportunities for the market players.
Increasing Sports Activities to Encourage Global Sports Nutrition Products Market
The global market for sports nutrition products is expected to witness progressive growth in the next few years, thanks to the rising consumer awareness and the rapid pace of urbanization. In the last few years, the rising number of sports complex across the globe resulting in a significant rise in sports activities is indirectly driving the demand for sports nutrition products. In addition, the increasing disposable income among consumers in developing economies is another factor encouraging the growth of the overall market.
Furthermore, the growing focus of key players on marketing activities and advertising campaigns is estimated to supplement the growth of the global sports nutrition products market in the next few years, states a TMR analyst. The introduction of new ingredients and flavors is likely to fuel the market’s growth.
Availability of Counterfeit Products to Curtail Market Growth
The global sports nutrition products market, on the other hand, is expected to face a challenge, owing to the easy availability of counterfeit products. In addition, with the expansion of distribution channels, the risk of products getting damaged is likely to grow, which is expected to restrict the growth of the overall market in the next few years. Nonetheless, the untapped opportunities in emerging economies are anticipated to accelerate market growth in near future.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Sports Nutrition Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014-2020.”
The global sports nutrition products market has been segmented into:
Global Sports Nutrition Products Market, by Product Type
- Sports Food
- Sports Drinks
- Sports Supplements
Global Sports Nutrition Products Market, by Region
- North America
- Asia Pacific
- Rest of the World
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