Sports
nutrition products have gained popularity among various groups of
consumers in recent times. Sports nutrition products refer to energy
bars and drinks, protein bars and dietary supplements. These products
are manufactured using ingredients including creatine, linoleic acid,
caffeine and taurine among others. Increasing health awareness is one
of the major factors fueling the demand for sports nutrition products
globally. In addition, rapid urbanization and rise in disposable
income of the consumers is also expected to boost the demand for
sports
nutrition products globally. However, availability of counterfeit
products is expected to restrain the demand for sports nutrition
products in the forecast period.
Sports
drinks is the largest product segment valued at 8.21 billion liters
in 2013. However, sports food segment is expected to be the fastest
growing market growing at a CAGR of 9.6% from 2014 to 2020.
Increasing amount of disposable income owing to rapid urbanization is
one of the major factors fueling the demand for sports drinks
globally. However, Europe is also one of the major markets for sports
nutrition products. The sports nutrition market in Europe is expected
to reach USD 15.45 billion by 2020 growing at a CAGR of 8.2% over the
forecast period.
North
America is the largest market for sports nutrition products and is
expected to continue its market dominance throughout the forecast
period. The sports nutrition market in North America was valued at
USD 10.53 billion in 2013. However, owing to increasing health
awareness the sports nutrition market is expected to experience
stable growth in the coming years. However, Asia Pacific is the
fastest growing market for sports nutrition products. The sports
nutrition market in Asia Pacific was valued at USD 5.91 billion in
2013.
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Major
industry participants include Maxinutrition Ltd (U.K.), PepsiCo
(U.S.), The Coca-Cola Company (U.S.), Glanbia Plc (Ireland), GNC
Holdings (U.S.), Monster Beverage Corporation (C.A.), Nestlé S.A.
(Switzerland), Reckitt Benckiser Group Plc (U.K.), Abott Nutrition
Inc (U.S.), Yakult Honsha Co Ltd. (Tokyo) among others.
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