Sports Nutrition Market To See Record Break Revenue $44,003 Million By during forecast period
Health bars have emerged to be a lucrative business segment in developed countries due to increasing demand for healthy lifestyle food.
Sports Nutrition Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $44,003 million by 2021. Asia-Pacific is expected to witness the fastest growth, owing to the increase in demand from countries such as India and China.
Increase in the number of gyms & fitness clubs, rise in trend of online retail, growth in the number of recreational & lifestyle users, and increase in health awareness coupled with rise in disposable income foster the market growth. However, availability of cheap and counterfeit products pose challenge for the sports nutrition manufacturers, thereby, restraining the market growth. Moreover, a surge in the production costs of protein supplements pose challenge for the development of the market in emerging economies.
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North America accounted for over 40% of the total market revenue in 2015 and is expected to maintain its dominance throughout the forecast period. This is attributed to the increased adoption of sports nutrition products, such as Iso & other sports drinks and protein powders among recreational and lifestyle users.
Based on the product type, the market is segmented into protein powder, Iso drink powder, capsule/tablets (creatine, BCAA and others), supplement powder, RTD protein drinks, Iso & other sports drinks, carbohydrate drinks, protein bars, carbohydrate/energy bars, and other supplements. Among these, Iso & other sports drinks accounted for the largest market share, owing to increased usage of these products in the mainstream market. Carbohydrate/energy bars segment is expected to grow at the highest CAGR of 12.1% during the forecast period, owing to the increasing demand for healthy and lifestyle foods, worldwide.
On the basis of user, the market is categorized into athletes, bodybuilders, recreational users, and lifestyle users. Athletes are the prime users and the key target customers for sports nutrition companies. In the year 2015, the segment dominated the market, accounting for more than 1/3rd of the overall market revenue. However, the segment of lifestyle users is expected to grow at the highest pace, owing to the rising health awareness among individuals throughout the globe.
The market is segmented by distribution channel into large retail & mass merchandisers, small retail, drug & specialty stores, fitness institutions, and online & others. Large retail & mass merchandisers generated the maximum sales of sports nutrition products in 2015, due to their extensive penetration in regions such as, North America and Europe. Sales through online distribution channel is expected to increase in the coming years, owing to the increase in internet penetration and extensive availability of these products on various online platforms.
Country wise analysis has been provided for all the four regions covered in the report. Countries analyzed under the North American region are the U.S., Canada, and Mexico. Under Europe, market size and forecast has been provided for UK, Germany, France Italy, Spain, and rest of Europe. Prevalence of sports culture and high per capita income has led to higher adoption of sports nutrition products in North America and Western Europe. Countries covered in the Asia-Pacific region include Japan, Australia, China, India, and rest of Asia-Pacific. Japan and Australia are the leading markets for sports nutrition. LAMEA includes Brazil, Argentina, South Africa, and rest of Latin America.
Leading players profiled in the report include The Coca-Cola Company, Abbott Nutrition Inc., PepsiCo Inc., Glanbia Plc., Reckitt Benckiser Group plc, Yakult Honsha Co Ltd, Post Holdings, Inc., GNC Holdings, Clif Bar & Company, and Otsuka Pharmaceuticals Co., Ltd.
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