Transparency Market Research projects that the market will continue
to embark onto a healthy growth path over the next few years as well.
Exhibiting a massive 8.50% CAGR from 2014 to 2020, the market is
expected to rise from a valuation of US$30.0 bn in 2013 to US$52.5 bn
in 2020. In terms of volume, the market is expected to rise from 8.6
bn kg in 2013 to 14.7 bn kg by 2020.
In this blog post, Transparency Market Research analysts emphasize
some of the key trends recently witnessed in the global
sports nutrition market and their projected impact on the
market’s future state of development:
What are the key factors that will lead to the increased demand
for sports nutrition products?
The rising adoption of these products across a highly dynamic set of
consumers, ranging from pure professionals to physical fitness
enthusiasts is the single most significant factor driving the global
sports nutrition market. Other than this, complementary factors such
as rising disposable incomes, especially across developing economies,
availability of a vast variety of products with innovative
combination of ingredients, and availability of product varieties in
categories such as sugar- and lactose-free are also massive
contributors to the overall growth of the market.
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Innovative product categories such as sugar- and lactose-free, as
well as the ones containing only organic food products are not only
allowing the market to gain a larger consumer-base but are also
proving to be more profitable owing to their larger profit margins as
compared to conventional products. The vast growth opportunities in
these areas are compelling an increasing number of companies to focus
on these areas with new product ranges.
What factors are expected to limit the growth prospects of the
global sport nutrition market?
The market for sports nutrition is expected to bear the brunt of
counterfeit products over the next few years. Counterfeit products
are not only much lower in quality than their original counterparts,
reducing the overall effectiveness with which an athlete can perform,
but can also create mild or even severe health complications for the
athlete after long term consumption. Counterfeit sport nutrition
products do not meet the necessary food grade requirements and can
therefore be sold for cheaper prices, or be used to replace an
original product. They could also contain several chemicals that are
known to be allergenic or affect the internal functions of an
athlete.
From
the profitability perspective of the global sport nutrition market,
the preference or replacement of an original product with a
counterfeit variant can create large enough losses in the long run to
affect the research and development activities of a player, further
slowing down the rate of growth for the market overall.
