Primarily driven by growing health consciousness among consumers worldwide, the sports nutrition industry is thriving at a rapid pace. A sizeable population is inclining more toward nutritional products, such as sports drinks, foods, and supplements. In terms of revenues, the global sports nutrition market reached a value of US$ 20.7 Bn in 2012, and is expected to attain a value of US$ 37.7 Bn by the end of 2019. Attributed to burgeoning popularity of nutritional products in developed as well as developing regions, the global sports nutrition market will expand at a strong CAGR of 9.0% over the forecast period, 2013-2019.
Key Market Dynamics
Rising awareness about fitness, health clubs, and healthy diet is estimated to continue a major role in driving the demand for sports nutrition market. People are increasingly shifting to a healthy lifestyle that includes physical fitness maintenance as well as nutritious diet regimen. Athletes and bodybuilders have been the key consumers of the global sports nutrition market over the years. In addition, an increasing number of youngsters choosing career in sports is also raising substantial demand for sports nutrition products. Since the past decade, there has been an immense upsurge in national and international sports events, which is anticipated to remain a key factor favoring the market growth. Lifestyle and recreational users have recently emerged as lucrative user groups for the sports nutrition market. These groups are predicted to capture significant market shares during the forecast period. While the maximum revenues of the global sports nutrition market are concentrated in developed regions, markets in developing countries are also expected to gain a strong boost through to 2019, owing to growing population and improving lifestyle. People are increasingly purchasing sports nutrition products as healthy snacks or quick meal replacement as a part of their diet, accounting for growing sales of sports nutrition.
Availability of a large number of nutrition products in the market often result in evolving consumer preferences among different brands and products. This will remain a major challenge to steady growth of the market. Extreme expansion of distribution channels is another factor hampering the market. Negative publicity of some products based on the ban on certain ingredients, is also anticipated to pose a long-term challenge to the growth of the sports nutrition market.
The global sports nutrition market is segmented on the basis of three key product types, including sports food, sports drinks, and sports supplements. In 2012, sports drinks recorded the largest market share, reaching to a value worth US$ 12.43 Bn. The Y-o-Y growth of the sports drinks segment was around 7.3% in 2012, compared to that in 2011. The dominance of this segment is expected to continue over the forecast period, owing to burgeoning number of sportspersons, such as athletes, weightlifters, and bodybuilders. While the U.S. continues to create the largest market for sports drinks, other markets, including Germany, Italy, and the U.K. will also develop significantly growing markets in this segment.
Based on the geographical region, the global sports nutrition market is segmented into four key regions, including North America, Europe, Asia Pacific, and rest of the world. North America, especially the U.S. is expected to continue accounting for the largest market share. Europe also represents a major market for sports nutrition products, led by the U.K. Developing nations in Asia Pacific are anticipated to exhibit remarkable growth over the forecast period. The key attribute for this growth is growing health consciousness, and preference for fitness and nutritious diet.
Key Market Players
Some of the leading players operating in the global sports nutrition market include PepsiCo, Coca-Cola, Maxinutrition, Glanbia, and Clif Bar & Company.
With growing popularity of packaged food and beverages, the sales of sports nutrition products is consistently on the rise since the past few years. People are increasingly shifting to nutritious food and beverages due to rising health consciousness and awareness about availability of nutrition-based products in the market. The global sports nutrition market is a multibillion industry that has witnessed robust growth within a relatively shorter span. A report on this market has been recently published by Persistence Market Research. The report analyzes the global market for sports nutrition for a six-year forecast period, 2013-2019. It provides elaborated data on each aspect of the market, such as primary market drivers, challenges to market growth, upcoming growth opportunities, recent trends that are expected to influence the market during the forecast period, key companies leading the market landscape, and major regional markets for sports nutrition.
The global sports nutrition market report begins with the market overview and overall status. The next section extensively covers the important factors that may contribute to the growth of the market. After detailed analysis of high, medium, and low impact drivers, the reports introduces the restraints section wherein all the factors that might hamper the market directly or indirectly are interpreted. In the next part, the report features attractive growth opportunities for the global sports nutrition markets in various segments and regions. In the trends section, the reports offers quick insights into the latest trends in the sports nutrition industry and explain how they would impact the global sports nutrition market.
The report segregates the sports nutrition market into three key segments in the next section. Sports food, sports drinks, and sports supplements. Regional analysis provides in-depth data on all the four regional markets viz. North America (the U.S. and Canada), Europe (the U.K., Germany, France, Italy - excluding Russia), Asia Pacific (China, India, Australia, Japan), and rest of the world. The last part of the report features extensively studied profiles of leading companies in the global market for sports nutrition.
To deduce the global sports nutrition market size, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by product type, vehicle type, and distribution channel; and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution in the global sports nutrition market.
The report begins with sizing the market in terms of value and volume for the base year, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, gathered data is triangulated via different analysis based on supply side and demand side drivers and other key dynamics of the global sports nutrition market. To develop the market forecast, Persistence Market Research has also conducted a factor analysis to understand the impact of various forces/factors on the target market. The report provides forecasts not only in terms of CAGR but also presents a detailed analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities.
Another key feature of this report is an analysis of the global sports nutrition market and the corresponding revenue forecast in terms of absolute dollar opportunity, usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global sports nutrition market. Further, to understand key segments in terms of their growth and overall global sports nutrition market performance, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the global sports nutrition market.
Some of the major players in the sports nutrition market:
The company profiles include attributes such as company overview, financial performance, and recent developments.