|Status : Upcoming||Report Code : VRFB11011||Industry : Food & Beverage||Available Format :|
Industry Insights by Type (Sports Foods, Sports Drinks, Sports Supplements), by Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Drug Stores, Others), by Geography (U.S., Canada, U.K., Germany, France, Italy, Spain, Russia, China, Japan, India, South Korea, Indonesia, Thailand, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, U.A.E., South Africa, Nigeria)
The global sports nutrition market is expected to witness the fastest growth due to steady changes observed in the market as it involves the change of product from traditional products into more specific products and the target base lies within the conventional customers for this market. There are several varieties of sports nutrition that comprises powders, tablets, bars, gels and ready to drink beverages.
The sports nutrition offers products that help the individual in enhancing their personality and helps them in gaining body mass that helps the human body to recover their body after the exercises. Moreover, proteins are observed to be the most popular ingredient in this segment, on the other hand, other non-protein ingredients such as beta-creatine, alanine and creatine are attaining popularity in the current situation. It has been observed that the adoption of herbal sports nutrition is healthy for human consumption and is the most crucial factor that contributes towards the growth of the global sports nutrition market.
Insight by Type
On the basis of type, the sports nutrition market is categorized into sports foods, sports drinks, and sports supplements. Among all three types, sports food category is expected to hold the largest market share during the forecast period as it is easily available in the market and also its demand is higher among the consumer in comparison to other types.
Insight by Distribution Channel
On the basis of distribution channel, the sports nutrition market is categorized into supermarkets & hypermarkets, convenience stores, drug stores, and others.
The primary factor aiding towards the growth of the global sports nutrition market include increasing number of health clubs and fitness centres, rapid pace of urbanization, and increasing number of non-traditional users.
The increasing number of health clubs and fitness centers are driving the growth of the global sports nutrition market. The number of health clubs and the fitness centres is growing due to the increasing consciousness among the people for maintain good health, the increasing number of the younger population and constantly evolving demographics in several developing economies. The increasing number of these incidences is excessively enhancing opportunities for the manufacturers of sports nutrition products around the globe.
There are several innovations being observed in the sports nutrition market that is recognizing the wellness, health and overall fitness of the individuals and are constantly targeting the innovators and early adopters in order to maximise the profit and make the product accessible to large number of populations worldwide. The problem in developing customer trust, negative perception developed for disputed ingredients such as stimulants and prohormones are the major restraints observed in the growth of the global sports nutrition market.
The target group for sports nutrition products were the athletes and bodybuilders but now the target group for food manufacturers are increasingly attracting the non-athlete consumers as well especially the younger demographic. The market is gaining traction due to increasing awareness regarding health consciousness among the huge population, increasing urbanization, growth in number of sales outlets, new product development, fitness centers, health clubs and gyms. Traditional users of sports nutrition market are categorized as regular users or the core performers similarly the new users could be lifestyle or occasional users.
Geographically, North America is the largest market for sports nutrition due to increasing consciousness among the population of this region regarding good health and increasing adoption of the supplements in order to remain healthy and fit. The accelerating amount of urbanization, increase in the disposable income and a large number of the younger population is driving the demand for this market in North America. The sports nutrition market is expected to witness the fastest growth in Asia-Pacific owing to their increasing trend of spending more towards the upgradation and enhancement of the standard of living.
It has been observed that the food manufacturers in the region are increasingly relying upon several channels such as seminars and events that help the manufactures in making their product accessible and enhance the brand image of their company. In 2015, the Australian Sports Nutrition (ASN) had launches a contest that was named as “Body Transformation Challenge” at Queensland, the purpose of which was to help the citizens of the country to gain health and fitness objectives in the most efficient and effective manner. The contest has helped the population of that country to gain increasing awareness regarding the sports nutrition that effectively contributed to the growth of the sports nutrition market in Asia-Pacific.
Some of the major players operating in the global sports nutrition market include Glanbia Plc, PepsiCo. Inc., Abbott Laboratories, GNC Holdings, The Coca Cola Company, GlaxoSmithKline, Clif Bar & Company, Universal Nutrition, Creative Edge Nutrition Inc., and Monster Beverage Company.