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Global Industry Insight: Sports Nutrition Market Development and Demand Forecast to 2020
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Available as powders, tablets, bars, ready-to-drink (RTD) beverages and gels, sports nutrition products are aimed at enhancing physical endurance, boost muscle growth and body mass or increase recovery after exercise. The global sports nutrition market has been witnessing an exceptional shift in recent years. The market is steadily turning from traditional products into specific products for mainstream customers. Sports nutrition products that were earlier intended for athletes and body builders are increasingly attracting non-athlete consumer group, especially the younger demographic profile.
Geographically, sports nutrition products market is dominated by the U.S. and European countries, whereas, the emerging nations are expected to be major growth drivers for the market. Low awareness in the eastern countries compared to western markets is the main reason for less market share of eastern countries in the global sports nutrition market. However, in terms of future growth, the Asia-Pacific region is poised to expand at a faster pace, led by rising income level and gradual acceptance of health products in daily living. Rise in sports events organized in these countries is increasing the importance of exercise and sports, which is expected to support the growing demand for sports nutritional products.
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The increasing health concerns, such as obesity and awareness of physical appearances among all consumers groups is driving the demand of global sports nutrition products. Emergence of new consumer base, such as recreational and lifestyle users are being increasingly targeted by sports nutrition manufacturers. Manufacturers are developing innovative products to cater to wider consumer requirements depending on their tastes and preferences. The increasing accessibility of products through conventional mass-market retail channels, including supermarkets convenience stores, and hypermarkets, to emerging new online channels are supporting easy availability of sports nutrition products.
However, negative perceptions about inclusion of questionable ingredients such as steroids and other banned substances, and availability of various health substitutes are some of the challenges faced by the industry. Additionally, fast changing consumer preferences, especially among new users, and expansion of distribution channels are leading to increased competition in the industry. New products development in order to keep pace with consumer requirements confronts the industry. The new group such as recreational and lifestyle consumers prefer good taste and flavors apart from health benefits of the products. Certain consumer groups are more inclined for natural ingredient in sports nutrition food. Meeting requirement of expanded consumer base require investment in new product development.
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SPORTS NUTRITION MARKET SEGMENTATION
Sports Nutrition market by segment:
- Sports Food
- Sports Drinks
- Sports Supplements
Sports Nutrition market by region:
- North America
- The U.S.
- Rest of North America
- The U.K
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World (ROW)
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