Global Market Study on Sports Nutrition: Revenues to Exceed US$ 37 Bn by 2019 End, Sports Drinks Continue to Fuel Market Growth
Persistence Market Research Released New Market Report on “Global Market Study on Sports Nutrition: Asia Pacific to Witness Highest Growth by 2019,” the global sports nutrition market was valued at USD 20.7 billion in 2012 and is expected to grow at a CAGR of 9.0% from 2013 to 2019, to reach an estimated value of USD 37.7 billion in 2019.
Increasing health awareness, healthy lifestyle, rising number of health clubs and fitness centers and changing consumer clusters for nutritional product across the globe are the key growth drivers for the global sports nutrition market. Traditionally, bodybuilders and sportspersons are the major consumers for sports nutrition products.
However in recent years, new user groups (recreational and lifestyle users) have increased their market share in sports nutrition market.
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The market for sports nutrition is expanding its major markets (North America) towards developing markets of Europe and Asia Pacific owing to an ever-increasing population, rising income and rising living standard of consumers in this region. Countries such as India and China with their fast pace economic growth offer huge opportunities for sports nutrition market in the future.
Moreover, surge in national and international sporting events and increased global participation in these; provide a good launch pad for the sports nutritional products.
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Major growth challenges for the industry include the threat of substitutes and negative publicity about the inclusion of banned/forbidden ingredients. Furthermore, changing consumer preferences and expansion of distribution channels are other growth inhibitors for the industry.
The sports nutrition market is bifurcated into three segments: Sports Food, Sports Drinks, and Sports Supplements. Sports Drinks was the largest segment; it increased to USD 12,435.4 million in 2012, up 7.3% over that in 2011.
The U.S. is the world’s largest consumer base for Sports Drinks. Other major markets are the U.K., Germany, and Italy.
Some of the major companies operating in the sports nutrition market are Maxinutrition, Glanbia, PepsiCo, Coca-Cola and Clif Bar & Company.
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