Sports Nutrition- A Detailed Market Trend Analysis
From a weightlifter to a normal person, sports nutrition has benefitted everyone in their health and fitness routines. Over the years, it has gained tremendous attention amongst the youth as well as the ageing people. Sports nutrition is the study of the nutrients that enhances an athlete’s performance along with focusing on the type and the quantity of the food that should be taken by a sports person. However, these benefits are not limited just to the athletes, it also highly assists in the well-being of the normal person of any age. Sports nutrition is a well-made nutrition plan that allows active adults and athletes to perform at their best.
Ongoing research about the sports nutrition continues to advise improved nutritional guidelines and support for both active adults and competitive athletes. Today, science recognizes sports nutrition and energy intake as the “cornerstone of the athlete’s diet.”
Consumer Trends of the sports nutrition
Sports nutrition market is gaining a substantial growth owing to increasing consumer preferences. Have a detailed look on some of the consumer trends that have a direct impact on the sports nutrition market.
OVER 80% OF SPORTS NUTRITION COMES FROM PROTEIN-BASED PRODUCTS
For most individuals, health and wellness is just about having the energy to live an active lifestyle. This desire for an enhanced health and physical wellness is boosting demand for custom-made lifestyle nutritional elements and supplements to offer energy without compromising on good ingredients.
37% INCREASE IN MOBILE COMMERCE IN THE U.S. IN 2018
Through modernization and digital expansion, the sports nutrition products have encouraged strong growth potential across the globe. In 2017, Glanbia PLC’s GPN acquired the Body & Fit brand in Europe, which is an exciting addition to the company’s portfolio. The company is now working with other global online platforms to participate in the fast-growing online channel.
94% OF AMERICANS SNACK AT LEAST ONCE A DAY
With an increasing pace of life, time-poor customers prefer quick bites, portable snacks and nutritious foods. Instead of eating at precise times, living on-the-go means life doesn’t always stop for a full meal. Customers are now snacking through the day and there is a mounting preference towards healthier options with protein, bite-sized snacks.93% OF CONSUMERS HAVE PURCHASED A CLEAN LABEL PRODUCT Clean label products are no longer a trend, it’s a basic rule that plays to our strengths. The desire for natural and healthy label products has continued to evolve, as consumers are becoming more health-conscious and well-versed. They are demanding for natural and clean list of ingredients. Customers are also concerned about the environment issues, and thus are seeking ways to make a difference by procuring ‘sustainable’ food and beverages. Current Market Scenario Sports nutrition market will continue expanding from core bodybuilder and athlete users, to a broader consumer base. Though this expansion is largely taking place among the top three sports nutrition countries counting the U.S., the U.K. and Australia, customers in less developed, but fast-growing markets such as China, India and Brazil will continue to advance in future as well. Regional Highlights North America accounted for the largest market for sports nutrition products, dominated by the U.S. It has accounted for more than 40% market share for sports nutrition products in 2017 according to Axiom Market Research & Consulting™. The growth of North America is largely propelled by high income population, topnotch fitness and athletics infrastructure. Moreover, the Europe also represents a key market for sports nutrition products, led by the U.K., due to growing number of customers preferring healthier lifestyles. Competitors Analysis The key competitors of sports nutrition market are Glanbia PLC, PepsiCo, Inc., Hormel Foods Corp., MusclePharm Corp., Power Bar, Inc., Clif Bar Company, Multipower, Nestle S.A., The Coco Cola Company, Ultimate Nutrition, Abbott Laboratories, Z-konzept, SQUEEZY Sports Nutrition, BPI Sports Inc. and Body Attack Sports Nutrition GmbH & Co. KG among others. Few of the Recent Developments In April 2018, PepsiCo Inc. introduced a zero-sugar version of Gatorade sports-drink category. The 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. In January 2018, Clif Bar & Company introduced LUNA Bar, the first nutrition bar for women. LUNA Rica is a “break-able” organic fruit and nut bar with delicious nut butter filling, USDA organic, non-GMO and gluten free. The bars are available in three crave-worthy flavors: Salted Caramel Nut, Chocolate Peanut Butter and Chocolate Coconut Almond. In February 2017, Glanbia PLC acquired Body & Fit in the Netherlands, a leading direct to consumer (DTC) online branded business focused on performance nutrition. Body & Fit’s consumer base is largely in Germany and the Benelux region within Europe. This acquisition enables GPN to have a direct presence in the rapidly growing DTC channel. GPN will invest in Body & Fit to expand its reach across Europe. The transaction is subject to Dutch competition clearance and is expected to close in the first half of 2017. Concluding to it, the demand for sports nutrition products is not likely to slow down anytime soon. Sports nutrition will observe the fastest growth of all customer health categories and will continue to grow at almost 9.0% yearly, according to Axiom Market Research & Consulting™.
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Global Personalized Nutrition Market was valued at USD 7.2 billion in 2018 and is estimated to reach USD 11.5 billion by 2025, growing at a CAGR of 7.03% from 2020 to 2025.
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