Market Research Report
Sport nutrition is well recognized as an invaluable tool in any athlete’s training and competition programme. It is the single most complementary factor to any physically active individual or elite athlete. By focusing on type and quantity of nutritional food intake, sport nutrition products improve the performance of athletes. Athletes and bodybuilders are the major utilizers of sport nutrition products enriched in essential nutrients such as carbohydrates, proteins, vitamins, and minerals. These products are manufactured in convenient forms and compositions and are distributed through numerous channels.
The global sports nutrition market has gained sustainable growth owing to evolving fitness trend and growing number of non-traditional users. Consumers worldwide are adopting healthy living and following fitness trends, especially across developed markets where healthy lifestyle aspirations have become more common. This is translating into an expanding consumer base for sports nutrition products. Furthermore, rise in health clubs and need for adequate nutritional content in food have nurtured the demand for the sports nutritional products. The health clubs sell protein supplements, nutrition bars, energy drinks, and similar sports nutrition products. Some health clubs hire dieticians to help consumers with the selection of these products. However, the global sports nutrition market is hampered by availability of cheap counterfeit products and food safety issues. Whereas, narrow availability of products in under-developed countries is also restraining the market growth.
The global sports nutrition market is projected to grow at a CAGR of 9.00% during the forecast period 2019 to 2024. The report analysis the sports nutrition market based on product type, end user, distribution channel and geography. Based on product type, the global sports nutrition market is segmented into sports drinks, sport foods and sport supplements. Sports drinks are further classified into isotonic, hypertonic and hypotonic drinks. Amongst them, sports drinks dominated the sports nutrition market and its dominance is expected to continue over the forecast period. Key factors driving the growth of sports drinks in the global market are its ability to enhance performance and endurance to do intense exercise and prolonged training. Also, rising population of athletes, sportspersons, and increasing number of players in developing countries are other factors boosting the growth for sports drink in the global sports nutrition market.
By end user segment, the global sports nutrition market is categorized into athletes, bodybuilders, recreational users and lifestyle users. The athletes are the major consumers of sports nutrition products owing to its rising importance in an athlete’s life. Moreover, recreational users and lifestyle users are also expected to demand more during the forecast period due to rapid urbanization, rise in disposable income along with growing awareness regarding health issues. Furthermore, based on distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, health stores and online channel. In 2017, hypermarket/supermarket segment dominated the market and is anticipated to maintain its market hold over the next six years. This segment is witnessing growth owing to rising consumer demand of various sports nutrition products across different hypermarkets and supermarkets.
By geography, the global sports nutrition market is studied across the countries of key regions such as, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to account for the largest market for sports nutrition products, dominated by the U.S. The growth in this region is supported by high income population, world-class fitness and athletics infrastructure. The Europe also represents a major market for sports nutrition products, led by the U.K., owing to increasing number of consumers opting for healthy lifestyles. Moreover, Asia-Pacific is the fastest growing market for sports nutrition products within the forecast period, fuelled by an increase in disposable incomes coupled with rapidly changing lifestyles.
The leading players of the global sports nutrition market are Glanbia PLC, PepsiCo, Inc., Hormel Foods Corp., MusclePharm Corp, Power Bar, Inc., The Coco Cola company, Nestle S.A, Clif Bar Company, Atlantic Multipower UK Limited, Ultimate Nutrition and Abbott Laboratories. Other prominent players of this market include Konzept Nutrition GmbH, SQUEEZY Sports Nutrition, BPI Sports Inc. and Body Attack Sports Nutrition GmbH & Co. KG. among others. The global sports nutrition market is highly competitive and diversified due to the presence of many vendors across the globe. For instance, in April 2018, PepsiCo Inc. introduced a zero-sugar version of Gatorade sports-drink category. This new product further expands the Gatorade portfolio, joining organic and low-sugar versions of the beverage. ‘G Zero,’ as the new Gatorade is called, is the first no-sugar product introduced in Gatorade’s 53-year history. Moreover, the market is also characterized by the presence of few regional vendors, who account for notable market shares.
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