World Sports Nutrition Market CAGR is 9% from 2018 to 2024

 Navjot Bhumrah

Axiom Market Research & Consulting™ added a report on Global sports nutrition market. The global Sports Nutrition Market was valued at USD 3.2 billion in 2017, growing at a CAGR of 9.00% for the forecast period 2019 to 2024. The market was studied for product types such as sports drinks, sport foods and sport supplements. Sports drinks are further classified into isotonic, hypertonic and hypotonic drinks. The major end users considered in the study are athletes, bodybuilders, recreational users and lifestyle users. The most important distribution channel considered in this market study were hypermarkets/supermarkets, convenience stores, health stores and online channel. The major regions considered for the study were North America, Europe, Asia-Pacific and Rest of the World.

Evolving fitness trend and growing number of non-traditional users are driving the market:

Consumers worldwide are adopting healthy living and following fitness trends, especially across developed markets where healthy lifestyle aspirations have become more common. This is translating into an expanding consumer base for sports nutrition products. Furthermore, rise in health clubs and need for adequate nutritional content in food have nurtured the demand for the sports nutritional products. However, the global sports nutrition market is hampered by availability of cheap counterfeit products and food safety issues.

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Sports drinks dominated the sports nutrition market:

Amongst various product types, the sports drinks dominated the sports nutrition market and its dominance is expected to continue over the forecast period. Key factors driving the growth of sports drinks in the global market are its ability to enhance performance and endurance to do intense exercise and prolonged training. Also, rising population of athletes, sportspersons, and increasing number of players in developing countries are other factors boosting the growth for sports drink in the global sports nutrition market.

Lifestyle users projected to be the fastest growing segment over the forecast period:

The lifestyle users are expected to demand more during the forecast period due to rapid urbanization, rise in disposable income along with growing awareness regarding health issues.

Hypermarkets/supermarkets hold the largest share of distribution channels

In 2017, hypermarket/supermarket segment dominated the market and is anticipated to maintain its market hold over the next six years. This segment is witnessing growth owing to rising consumer demand of various sports nutrition products across different hypermarkets and supermarkets.

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Growing awareness regarding lifestyle-related disorders and increasing consumer preference towards clean label & transparency in sports nutrition products led to the growth of North America region

North America is expected to account for the largest market for sports nutrition products, dominated by the U.S. The growth in this region is supported by high income population, world-class fitness and athletics infrastructure.

The market is extensively studied for important countries of key regions such as North America, Europe, Asia Pacific and Rest of the World.

The leading players of the global sports nutrition market are:

Glanbia PLC, PepsiCo, Inc., Hormel Foods Corp., MusclePharm Corp, Power Bar, Inc., The Coco Cola company, Nestle S.A, Clif Bar Company, Atlantic Multipower UK Limited, Ultimate Nutrition and Abbott Laboratories. Other prominent players of this market include Konzept Nutrition GmbH, SQUEEZY Sports Nutrition, BPI Sports Inc. and Body Attack Sports Nutrition GmbH & Co. KG. among others. These companies have established their position in the market by offering competent Sports Nutrition products.

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Domain: Business
Category: Sales & Marketing
Posted By: Navjot Bhumrah and Contact Navjot Bhumrah

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