In 2012, the global market study on sports nutrition market was valued around USD 20.7 Bn but from 2013 to 2019, it is expected to grow at a CAGR of 9.0% in order to reach an estimated value of USD 37.7 Bn by 2019.
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The main drivers of growth for the global sports nutrition market across the globe is the changing consumer groups for nutritional product, rising health clubs as well as fitness centers, increasing health awareness and the healthy lifestyle.
Athletes and sportsperson are the main consumers of nutrition products but recently many new users are increasing the market share of sports nutrition products. The sports nutrition product’s market is escalating its main market towards emerging markets of Asia Pacific and Europe region due to consumer’s rising living standard, increasing population and rising income.
With their fast growing economy both India and China will proffer large number of opportunities in the coming years for sports nutrition market. Furthermore, surge in global as well as domestic sporting events has proven a good initiator for sports nutritional products along with increasing participation in these events.
Key restraints for this industry include negative publicity of banned products and substitute threat for forbidden ingredients. Moreover, few more factors that are hampering the growth of the sports nutrition market are the fluctuating customer preferences and expanding channels of distribution.
Few developed regions including the U.S. and Europe will become the leading market shareholders. However, in developing countries, as customers are spending a lot on health related products; which in turn would pose a severe challenge to the power of developed nations. Additionally, hosting an expensive sports events in these developed nations is likely to accelerate the demand in the sports nutrition market.
The Sports nutrition market is segmented on the basis of product type (Sports Food, Sports Drinks and Sports Supplements) and by region type (Asia Pacific, North America, Europe and Rest of the World (RoW)).
The U.S. is having the largest customer base in the world for Sports drinks. While other major markets are Germany, the U.K., and Italy. Some of the prominent players in this market are Clif Bar & Company, Glanbia. Coca-Cola., Maxinutrition and PepsiCo.
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Long-term Outlook: The global market study on Sports Nutrition is progressing at a CAGR of 9.0% in a forecast period from 2013 to 2019.