Global Sports Nutrition Products Market: Snapshot
The global market for sports nutrition products is growing at a significant pace. The key players in the market are focusing on emerging markets in order to enhance their presence and attract a large volume of consumers in the next few years. In addition, the increasing focus on marketing activities and advertising campaigns are anticipated to contribute towards the market’s development in the near future. The introduction of new products is projected to create lucrative opportunities for key players operating in the sports nutrition products market in the forecast period.
As per the research study, the global market for sports nutrition products is estimated to reach a value of US$52.5 bn by the end of 2020. The market is likely to register a promising growth rate in the forecast period.
Introduction of New Ingredients to Create Promising Growth Opportunities
The rising health awareness among consumers and the emergence of new products and ingredients are the key factors that are anticipated to fuel the growth of the global sports nutrition products market in the coming years. Additionally, the high rate if urbanization and the increasing purchasing power of consumers, especially in developing economies are another major factors projected to supplement the market’s growth in the forecast period. On the contrary, the easy availability of low-cost and counterfeit products is expected to hamper the market’s growth in the near future.
Among the major product types, the sports drinks segment is predicted to lead the global sports nutrition products market in the next few years. The rising demand and the easy availability of these products are likely to encourage the growth of this segment in the next few years. In addition, the rising focus of key players on advertising activities is estimated to boost the demand for sports drinks in the coming years.
Rising Participation on Sports to Bolster North America Market
The global market for sports nutrition products has been classified on the basis of geography into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. In the recent years, North America led the global market holding a lion’s share. As per the study, this segment is estimated to remain in the topmost position over the forecast period. The high growth of this region can be attributed to the rising health concerns. In addition, the rising inclination of consumers towards sports is expected to contribute widely towards the development of the North America sports nutrition products market in the next few years.
Furthermore, Asia Pacific is projected to register a progressive growth rate in the next few years. A significant rise in the number of people expected to participate in different types of sports is one of the key factors predicted to fuel the overall growth of the market in the forecast period. In addition, the rising disposable income of consumers and the rising awareness regarding the benefits of consuming sports nutrition products are projected to accelerate the market’s growth in the near future.
Some of the key players operating in the sports nutrition products market across the globe are Nestlé S.A., Abott Nutrition Inc., GNC Holdings, Monster Beverage Corporation, Reckitt Benckiser Group Plc, Yakult Honsha Co Ltd., Glanbia Plc, The Coca-Cola Company, Maxinutrition Ltd., and PepsiCo. The rising level of competition is expected in the next few years, due to the growing number of companies entering the global market in order to create a niche and attract a large number of consumers in the near future.
Sports nutrition products refer to energy bars and drinks, protein bars and dietary supplements. These products are manufactured using ingredients like creatine, linoleic acid, caffeine and taurine among others. Health issues like obesity have increased globally over the years. Consumers are looking to maintain a healthy and active lifestyle in their busy schedule. Sports nutrition products are mostly used by sports persons such as athletes and bodybuilders. Recreational users who are engaged in weekend sports also use sports nutrition products in order to keep themselves active.
Increasing health awareness among the consumers, rapid urbanization and rise in disposable income of the consumers are some of the major factors driving the demand for sports nutrition products globally. The market share of sports nutrition products is expected to increase over the forecast period. Developing countries such as India, China, Brazil and Japan among others have huge untapped potential for sports nutrition products. Manufacturers of sports nutrition products are aiming to penetrate the developing countries in order to boost their presence at the global level.
However, availability of counterfeit products is one of the major factors restraining the demand for sports nutrition products globally. North America held the largest market share at globally and is expected to maintain its position throughout the forecast period. Europe is the second largest market for sports nutrition products, owing to increasing health awareness. However, increase in the consumption sports nutrition products over the years has made Asia Pacific as the fastest growing market for sports nutrition products. The manufacturers of sports nutrition products are aiming to explore the developing countries such as Brazil, India and Argentina among others in order to boost their market presence.
Owing to the large number of upcoming industries in the developing nations, the per capita income is expected to increase over the forecast period. Owing to these factors, there is considerable increase in disposable income of the consumers in the emerging economies. This is expected to have a high impact on the demand for sports nutrition products in the long run.
Sports drinks held the largest market share for sports nutrition products. However, sports food is one of the fastest growing markets for sports nutrition products. Increasing health awareness and changing lifestyle are the major factors boosting the demand for sports food at the global level.
Maxinutrition Ltd (U.K.), PepsiCo (U.S.), The Coca-Cola Company (U.S.), Glanbia Plc (Ireland), GNC Holdings (U.S.), Monster Beverage Corporation (C.A.), Nestlé S.A.(Switlerland), Reckitt Benckiser Group Plc (U.K.), Abott Nutrition Inc (U.S.), Yakult Honsha Co Ltd. (Tokyo) are some major players operating in the sports nutrition product market.
The report has been segmented by product type and geography and it includes drivers, restraints and opportunities (DRO’s), Porters Five Forces analysis of the sports nutrition market. The study highlights current market trends and provides forecasts from 2014 to 2020. Average selling prices (ASP) across all product segments are covered within the scope of research. We have featured the current market scenario for global sports nutrition market and identified future trends that will impact demand for sports nutrition products during the forecast period from 2014 to 2020.
By product, the market has been segmented into sports food, sports drinks and sports supplements. By geography, the market has been segmented into North America, Europe, Asia-Pacific, and RoW (Rest of the World). The report provides the current market size and anticipates its status over the forecast period.
The report also analyzes factors driving and inhibiting growth in the sports nutrition products market. Porter’s Five Forces analysis offers insights into the market competition across its value chain. The report will help manufacturers, suppliers, and distributors to understand the present and future trends in this market and formulate strategies accordingly.
The report segments the sports nutrition market as:
Global Sports Nutrition Market, by Product Type
- Sports Food
- Sports Drinks
- Sports Supplements
Global Sports Nutrition Market, by Geography:
- North America
- Asia Pacific
- Rest of the World