The
global sports nutrition products market features a fairly competitive
landscape, finds Transparency Market Research (TMR). Prominent
players operating in the market include Glanbia plc., Yakult Honsha
Co., Ltd., Reckitt Benckiser Group plc., Monster Beverage
Corporation, GNC Holdings, Abbott Nutrition Inc., PepsiCo, Inc., and
Nestle S.A. Leading companies in the market are diversifying their
product portfolio by developing innovative products and distinctive
brands. These players are increasingly focusing on various emerging
markets to consolidate their presence and gain a competitive edge
over others, observes TMR.
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In
the coming years, the competition in the sports nutrition products
market is likely to intensify further. This is attributed to the
entry of a large number of players focused on carving a niche space
and actively developing products that can meet numerous consumer
trends in the area of sport nutrition. The rising demand for products
featuring a variety of nutritional benefits is offering lucrative
avenues for several market players.
The
sports nutrition products market is projected to rise at a CAGR of
8.0% from 2014 to 2020. Expanding at this pace, the market is
expected to reach a valuation of US$52.5 bn by the end of the
forecast period. In terms of volume, the global market is projected
to reach 14.7 bn kg by the end of 2020.
Regionally,
the market for sports nutrition products is led by North America.
This regional market is predicted to maintain its lead throughout the
forecast period, and is expected to be primarily driven by the vastly
rising demand for sports
nutrition products among youth populations. Based on product
type, the segment of sports food is projected to rise at an
impressive CAGR of 9.60% during 2014 and 2020, fueled by the growing
demand for health fitness and sports nutrition products among body
building enthusiasts and athletes.
Several
Nutritional and Functional Benefits to Boost Uptake among
Sportspersons
The
rising participation of youth in sports and the growing awareness
about health and fitness among general populations are the key
factors propelling the demand for sport nutrition products. The
rising concern of fitness and health among bodybuilders, especially
in developed regions, and the spiraling demand for better workout
supplements among general populations are the crucial factors
expected to boost the sports nutrition products market. The advent of
fitness supplements containing formulations that combine flavors and
nutritional benefits is anticipated to catalyze the market. In
addition, the growing efficacy of sport nutrition products to enhance
strength, endurance, and performance among athletes and bodybuilders
world over has bolstered the uptake.
The
increasing disposable incomes of people in several developing nations
and the accelerated pace of urbanization in emerging economies are
the key trends expected to catalyze the market over the forecast
period. The rising health awareness among athletes and bodybuilders
is a crucial trend expected to boost the sports nutrition products
market. The inclusion of sports nutrition products in the training
regime of athletes is also expected to bolster the uptake.
Easy
Availability of Counterfeit Products May be Glaring Constraint
However,
the growing availability of counterfeit products and the growing
consumer skepticism about the purported health benefits are the key
factors likely to impede the growth of the market to an extent.
Nevertheless, the cost-effectiveness of sports nutritional foods and
drinks and the marked efficacy in boosting the performance in short
times has bolstered the uptake among athletes. In addition, the
growing inclination of top players on advertising and promotional
activities is expected to boost the market over the forecast period.
The
discovery of specialized molecules and the use of highly functional
ingredients in the making of these products is expected to open up
exciting opportunities for market players to capitalize on in the
coming years. In addition, this is increasingly helping several
players differentiate their existing product lines and attracting
more number of consumers, especially in developed markets.
The
study presented here is based on a report by Transparency Market
Research (TMR) titled “Sports Nutrition Products Market (Products -
Sports Food, Sports Drinks, and Sports Supplements) - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”
The
global sports nutrition products market is segmented based on:
Products
- Sports Food
- Sports Drinks
- Sports Supplements
Region
- North America
- Europe
- Asia Pacific
- Rest of the World
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