One of the key factors driving the global sports nutrition market is growing healthcare awareness around the world. The global sports nutrition market is also driven by greater urbanization, a widening consumer base, and greater proliferation of fitness centers, and health clubs. Earlier, athletes and body builders were the main consumers of sports nutrition products. However, nowadays it is not surprising to come across lifestyle and recreational users of sports nutrition products.
In fact, in recent times, the consumption share of lifestyle and recreational users in the global sports nutrition market has increased dramatically. The global sports nutrition market is projected to expand at a CAGR of 9% from 2013 to 2019, thereby reaching US$37.7 billion by the end of the forecast period from US$20.7 billion in 2012. Most manufacturers in the sports nutrition market are mainly focusing on manufacturing sports nutrition products by taking into account the taste preferences.
How do Sports Events drive the Demand for Sports Nutrition Products?
The global sports nutrition market is segmented on the basis of product and geography. Product-wise, this market is categorized into sport supplements, sports drinks, and sports food. The segment for sports drinks holds the highest share in the global sports nutrition market. Between 2011 and 2012, the global market for sports drinks expanded at a CAGR of 7.3%, thereby reaching US$12435.4 million by 2012. Also, it is the U.S. which is the largest consumer of sports drinks in the global sports nutrition market.
Emerging markets in the global sports nutrition market are anticipated to create gainful opportunities for further growth of this market in the forthcoming years. Greater product visibility via promotions at sports events is also another prominent factor that is expected to boost the demand for sports nutrition products over the next couple of years.
Frequently changing consumer preferences, threat of substitutes, and negative publicity for sports nutrition products are a few of the glaring challenges in the global sports nutrition market. The expanding distribution channel is another restraint in the global sports nutrition market.
Wide Consumer Base in China and India to Drive the Asia Pacific Sports Nutrition Market
Geographically, the global sports nutrition market is segmented into Asia Pacific, Europe, North America, and Rest of the World, with North America being the largest regional player. However, the global sports nutrition market is gradually shifting its focus towards the emerging markets of Asia Pacific and Europe. The demand for sports nutrition products in Asia Pacific countries such as China and India is mainly driven by the large population base in these regions.
The sports nutrition market in Europe and Asia Pacific is mainly propelled by high standards of living, high income levels, and the robustly growing population. China and India are expected to be promising markets for the global sports nutrition market owing to greater awareness amongst the masses about health and wellness and high income levels.
The prominent companies in the global sports nutrition market are Universal Nutrition, The Coca-Cola Company, Clif Bar & Company, GNC Holdings, PepsiCo, Glanbia, and Maxinutrition.
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