LONDON--(BUSINESS WIRE)--According to the latest market research report by Technavio, the global sports nutrition products market is expected to grow at a CAGR of over 8% until 2020.
In this report, Technavio covers the present scenario and growth prospects of the global sports nutrition products market for 2016-2020. To calculate the market size, Technavio researchers have considered revenues generated from the sales of sports nutrition products.
Based on product type, the global sports nutrition market can be classified into the following segments:
- Sports food and drinks
- Sports supplements
“Some of the performance boosting ingredients dominating the market include creatine, nitrous oxide, beta-alanine, androstenedione, and caffeine. These ingredients continue to play an important role in the sports nutrition market. However, many well-established nutritional stalwarts are continuously being researched and positioned for sports performance applications,” said Amber Chourasia, one of Technavio’s lead industry analysts for health and wellness.
“For instance, NeoCell offers Collagen Sport that combines an ion-charged protein isolate with proprietary Super Collagen. This creates a four-in-one product containing probiotics, vitamin D, glycerol, and L-carnitine, to help athletes recover, replenish, and refuel. Such products are high in demand. As a result, vendors are expected to launch many new, organic, raw, non-GMO sports nutrition products over the next four years,” added Amber.
Global sports nutrition products market by geography 2015
- North America 41.69%
- Europe 25.64%
- APAC 19.68%
- ROW 12.99%
Source: Technavio research
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Sports nutrition products market in North America
The sports nutrition market in North America was valued at USD 11.04 billion in 2015. North America dominated the global sports nutrition market in 2015. The US is the largest market in this region, experiencing growth in terms of volume and value. Change in consumer demographics has led to an increase in demand for products not only from athletes and body builders but also from casual users. This rise in demand is because of increased awareness of protein’s health benefits and of the importance of active lifestyles. Manufacturers are therefore capitalizing on expanding market conditions by continuous product innovation and improvements such as less complex formulations, and more convenient formats. Female-focused sports nutrition products are also available in the market. Further, wider distribution in more frequently visited grocery channels is expected to drive the demand during the forecast period.
Sports nutrition products market in Europe
The sports nutrition market in Europe was valued at USD 6.79 billion in 2015. The sports nutrition market in Europe is growing steadily. Increased number of consumers opting for healthy lifestyles is driving the demand for sports nutrition products. With increased awareness about the benefits of supplements, the demand for sports nutrition supplement is also rising. New regulations from the European Food Safety Authority (EFSA) have improved clarity in information regarding sports nutrition supplements, consequently restoring the trust in these products. Natural, free of chemicals, and more controlled products will likely lead to a growing consumer base over the forecast period.
Sports nutrition products market in APAC
The sports nutrition market in APAC was valued at USD 5.21 billion in 2015. The sports nutrition market in APAC is growing rapidly. Economic development in the region has resulted in an increase in disposable incomes which is fueling rapidly changing lifestyles. The region's GDP has been expanding at a rate of 5.8% and is expected to grow further, at a CAGR of 6.2%, over the forecast period. The majority of the disposable income is spent on fast moving consumer goods (FMCG), driven by an increased adoption of a westernized lifestyle.
Japan, China, Australia, and Vietnam in particular are experiencing a high demand for sports nutrition products. Rising awareness pertaining to healthcare among consumers has resulted in higher consumption of sports nutrition products. The market in this region is being driven by a growing number of consumers wanting to lose weight, aiming to achieve healthier lifestyles, and seeking to participate in sports.
Browse related reports:
- Global Sports Equipment Market 2016-2020
- Global Sports Nutrition Market 2015-2019
- Performance Nutrition Market in the UK - Market Analysis 2015-2019
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