Transparency
Market Research observes that the competitive landscape in the global
sports nutrition products market is intensely competitive. Several
dominant players are vying to make strategic acquisitions with
smaller players to increase their geographical reach and product
portfolio. The leading players in the market are Yakult Honsha Co
Ltd., Pepsi Co., Reckitt Benckiser Group Plc, GNC Holdings Inc.,
Nestlé S.A., and The Coca-Cola Co.
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The
market is also experiencing stiff competition from the local players
as consumers opt for local products due to remarkable price
difference. “The rapid pace of urbanization and the increasing
purchasing power is going to open up chances for bigger players to
improve their sales in the coming years,” states the lead author of
this research report. However, the market does face a huge challenge
from substitutes and counterfeit products.
Demand
for Sports Food Picks Up as Consumers Aims to Achieve Fitter Living
The
research report states that the global sports nutrition products
market will be worth US$52.55 bn by the end of 2020. During the
forecast years of 2014 and 2020, the global market will expand at a
CAGR of CAGR of 8.5%. Analysts report that North America will
continue to dominate the global market as the regional market expands
at a CAGR of 8.0% during the forecast period. In terms of products
sports food will assume lead as the value of the segment will touch
US$5.44 bn by the end of 2020. The growing number of consumers option
to lead fitter and healthier lives will augment the demand for sports
food.
Proactive
Approach of Consumers toward Health Triggers Demand for Sports
Nutrition Products
The
rising disposable incomes is the primary growth driver for the global
sports nutrition products market. The changing perspectives towards
sporting activities as more and more individuals are realizing its
advantages is building a positive outlook for the global sports
nutrition products market as well. The unfortunate result of changing
lifestyles such obesity and related problems has encouraged consumers
to take up sports as a constructive means to exercise and to keep
healthy. Thus, consumers have triggered a demand for sports food and
sports drinks to supplement and nourish the body with the required
nutrients to keep up with the outdoor activities. These products are
also gaining traction as individuals are trying to steer clear from
cardiovascular diseases, cancer, and musculoskeletal disorders
amongst others.
The
growing consciousness amongst individuals about appearance has also
fueled the demand for sports nutrition products in the recent years.
Furthermore, growing number of nutritionists prescribing protein as a
key nutrient in building muscle, several fitness enthusiasts are
opting for protein-rich food products for its long-term benefit.
Introduction of new ingredients and products such as whey protein and
creatine have made a huge impact on the revenue of the global
sports nutrition products market. These effective products come
with a promise of building endurance and strength of the body, which
has played a significant role in the growth of the global sports
nutrition market. The unstoppable pace of urbanization and the
stupendous rise in the disposable incomes are also responsible for
the flourishing sports nutrition products market.
Introduction
of Counterfeit Products Encroaches on Consumer Base
The
headstrong market drivers are being stymied by growing number of
distribution channels. The expanding distribution channels have led
to increasing number of intermediaries, which has hiked the prices of
products and led to chances of goods getting damaged. Additionally,
the widespread availability of counterfeit products is also acting as
a significant impediment to the global market. Growing number of
consumers are opting for low-priced products instead of branded ones
without realizing the poor quality of the former items.
The
review is based on Transparency Market Research’s report, titled
“Sports Nutrition Products Market - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2014-2020.”
The
global market for sports nutrition products is segmented into:
By
Products
- Sports Food
- Sports Drinks
- Sports Supplements
By
Region
- North America
- Europe
- Asia Pacific
- Rest of the World
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