The report – Sports Nutrition Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019 – says that increasing health awareness and changing consumer groups are the major growth drivers for the global sports nutrition market.
Traditionally, bodybuilders and athletes were the only consumers for sports nutrition products. In recent years, new user groups (recreational and lifestyle users) have increased their market share. Furthermore, changing consumer preferences and expansion of distribution channels are other growth inhibitors for the industry.
Developed regions such as the US and countries in Europe have been the dominant market shareholders. However, as consumers in developing nations are increasingly spending their income on health and health-related products, these economies are expected to pose a serious challenge to the supremacy of developed economies.
Organising high-profile sports events in these countries is further expected to escalate the demand for sports nutritional products in these markets.
The sports nutrition market is bifurcated into three segments:
Sports Drinks was the largest segment, increasing to US $12,435.4m in 2012, up 7.3% over 2011. The US is the world’s largest consumer base for Sports Drinks. Other major markets are the UK, Germany and Italy. Major growth drivers of the sports nutrition market in the US are increasing lifestyle users and changing consumer behaviour towards new sports nutrition product formats such as ready-to-drink and energy bars.
Sports nutrition product distribution is slowly shifting from gym and health stores to supermarkets as the preferred distribution channel.
Asia Pacific is the fastest growing market for sports nutrition products. The sports nutrition market is well established in countries such as Japan, China and Australia. The main reason behind the growth of the sports nutrition market in Asia Pacific is increasing awareness about healthy living. Some of the major companies operating in the market are Maxinutrition, Glanbia, PepsiCo, Coca-Cola and Clif Bar & Company.
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