Report: sports nutrition growth forecast2 Nov 2016
A new report published by Allied Market Research (AMR) projects that the global sports nutrition market is estimated to reach $44,003 million by 2021, with the US expected to remain the dominant market.
A new report published by Allied Market Research (AMR), titled, "Sports Nutrition Market by Type, Distribution Channel, End-User, and Geography - Global Opportunity Analysis and Industry Forecast, 2014-2021," projects that the global sports nutrition market is estimated to reach $44,003 million by 2021. Asia-Pacific is expected to witness the fastest increase in the number of gyms & fitness clubs, rise in trend of online retail, growth in the number of recreational & lifestyle users, and increase in health awareness coupled with rise in disposable income foster the market growth. However, availability of cheap and counterfeit products pose challenge for the sports nutrition manufacturers, thereby restraining the market growth. Moreover, a surge in the production costs of protein supplements pose challenge for the development of the market in emerging economies.North America accounted for over 40% of the total market revenue in 2015 and is expected to maintain its dominance throughout the forecast period. This is attributed to the increased adoption of sports nutrition products, such as Iso and other sports drinks and protein powders among recreational and lifestyle users."Health bars have emerged to be a lucrative business segment in developed countries due to increasing demand for healthy lifestyle food. Protein & Carbohydrate bars are being marketed by packaged food giants as well as by health & nutrition companies, leading to increase in competitive rivalry in the industry", said Bhawna Kohli, Manager Research at AMR.Based on the product type, the market is segmented into protein powder, Iso drink powder, capsule/tablets (creatine, BCAA and others), supplement powder, RTD protein drinks, Iso and other sports drinks, carbohydrate drinks, protein bars, carbohydrate/energy bars, and other supplements. Among these, Iso and other sports drinks accounted for the largest market share, owing to increased usage of these products in the mainstream market. Carbohydrate/energy bars segment is expected to grow at the highest CAGR of 12.1% during the forecast period, owing to the increasing demand for healthy and lifestyle foods, worldwide.On the basis of user, the market is categorized into athletes, bodybuilders, recreational users, and lifestyle users. Athletes are the prime users and the key target customers for sports nutrition companies. In the year 2015, the segment dominated the market, accounting for more than a third of the overall market revenue. However, the segment of lifestyle users is expected to grow at the highest pace, owing to the rising health awareness among individuals throughout the globe.The market is segmented by distribution channel into large retail & mass merchandisers, small retail, drug & specialty stores, fitness institutions, and online & others. Large retail & mass merchandisers generated the maximum sales of sports nutrition products in 2015, due to their extensive penetration in regions such as, North America and Europe. Sales through online distribution channel is expected to increase in the coming years, owing to the increase in internet penetration and extensive availability of these products on various online platforms.Country wise analysis has been provided for all the four regions covered in the report. Countries analyzed under the North American region are the U.S., Canada, and Mexico. Under Europe, market size and forecast has been provided for UK, Germany, France Italy, Spain, and rest of Europe. Prevalence of sports culture and high per capita income has led to higher adoption of sports nutrition products in North America and Western Europe. Countries covered in the Asia-Pacific region include Japan, Australia, China, India, and rest of Asia-Pacific. Japan and Australia are the leading markets for sports nutrition. LAMEA includes Brazil, Argentina, South Africa, and rest of Latin America.Key Findings of the Sports Nutrition Market Study include:+ North America generated the highest revenue in 2015+ Asia-Pacific is anticipated to witness the highest CAGR from 2016 to 2021+ Large retail & mass merchandisers and drug & specialty stores, collectively accounted for over 50% of the overall market sales in 2015+ Online distribution channel is expected to grow at a notable pace during 2016 - 2021+ Lifestyle users are anticipated to be the fastest growing user segment during the forecast period+ In terms of market by product type, "Iso and other sports drinks" would be the leading segment throughout the analysis period
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