The global market for sports nutrition is expected to expand at a phenomenal growth rate during the forecast period (2016-2027), asserts Market Research Future (MRFR). Highly popular among bodybuilders and athletes, the sports nutrition sector has managed to achieve a loyal following of active consumers striving to embrace a healthier lifestyle. Thereby seeking out supplements, foods and beverages formulated with proven ingredients to attain quick results. Naturally functional food ingredients in the market are garnering the attention of a large number of consumers. Sports nutrition products include sports drinks, supplements, and food including protein powders, capsule/tablets, supplement powder, ready-to-drink protein drinks, protein bars, carbohydrate/energy bars and other supplements.
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Drivers and Restraints:
Surging Number of Health Clubs and Fitness Centers has led to market growth
Past few years has noted a consistent increase in a number of health clubs and fitness centers due to increase in health concerns along with change in lifestyle in developing countries. Increasing health awareness coupled with need for adequate nutritional content in food has fostered the demand for such products. Further, a surge in the number of middle-aged and geriatric population actively pursuing sports has also triggered the sports nutrition market growth.
Most of these health centers sell protein supplements, nutrition bars, and energy drinks. Numerous health clubs hire dieticians to assist consumers make apt choice with regard to these products. In addition, sports supplements observe immense popularity and demand owing to the increasing number of health centers and fitness clubs worldwide, as these function as main distribution channels for these products.
Increasing number of non-traditional consumers
It also helps that the disposable income and industrialization are rapidly growing around the world, further propelling the market growth. Thus, apart from athletes and bodybuilders, there are other non-traditional consumers using sports nutrition products, a factor highly instrumental in the market development.
Food safety issues might hinder the market growth
On the other hand, there are cheap counterfeit products available that defy the food safety regulations, a factor that may inhibit the market growth in coming years. However, with individuals adopting a healthier lifestyle, subsequent increased health awareness has prompted these individuals to go for the right choice of products. This negates the negative impact of availability of cheap and dangerous products.
In February 2018, Optimum Nutrition launched its first plant-based protein powder called ON Gold Standard. It is a 100% plant made from a blend of organic pea, rice, and sacha inchi proteins. The powder can be mixed with water or milk and is available in three flavors that are vanilla, chocolate, and mixed berry.
Product enhancement strategy is a popular industry trend that attracts more customers owing to high product quality and leads to an increase in sale, fueling the market growth.
The global market for sports nutrition is segmented on the basis of type and end-user.
Sports drinks segment highly favorable owing to its high nutritional value
The types of sports nutrition include sports food, drinks, bar, and supplement. The global sports nutrition market is led by sports drinks owing to increasing marketing of sports drinks as a healthier alternative to soda. The manufacturers use the tactic of promoting the mental and physical benefits sports drinks have to offer, for instance, electrolytes and carbohydrates are sports drinks that are ideal for individuals engaged in marathon training or football and others.
Body builders among the most traditional consumers of sports nutrition products
End-user wise, the market is segmented based on commercial, bodybuilders, recreational users, and athletes. Bodybuilders are the traditional consumers of sports nutrition products, particularly supplements, owing to heavy workout they engage in, with subsequent need to compensate for the loss of sweat.
Key Players Analysis:
CATAPULT, Maxi Nutrition, Universal Nutrition, and EXOS are some of the key players contributing to the growth of the global market.
August 2018 – US snacks company Kind has recently entered the sports nutrition market, launching a new protein bar range in the UK. Noticing huge opportunity in the protein category in UK, the company has entered the field with its unique range of convenient, tasty and natural products. These products are high in fiber, containing heart-healthy fats and are lower in sugar, making it highly favorable among individuals trying to maintain a healthy lifestyle.
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The global sports nutrition market is spread across the regions of Europe, North America, Asia Pacific (APAC) and the Rest of the World (RoW).
Europe has been the dominant region globally, garnering the largest share of the global market and is expected to retain its position till the end of 2027. The market growth in the region is fueled by the large number of consumers with the mindset that sports nutrition products are ideal for a healthy and active lifestyle. The market in Europe is also propelled by an increase in the number of working women coupled with change in lifestyle and growth in the consumption of ready-made & fast food.
APAC is subjected to promising market growth as well, on account of rapid industrialization and growing economy. Furthermore, increasing awareness about benefits of protein-based sports nutrition products combined with active lifestyle have speeded up the sports nutrition market growth. Another noteworthy factor working in favor of the market is the rise in the number of middle-aged and geriatric population engaged in sports activities.
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