Global Sports Nutrition Product Market to Touch US$52.5 bn by 2020, Increasing Interest of Youth in Sports Drives Growth
Transparency Market Research (TMR) has recently published a report on the global sports nutrition products market, according to which, the market is anticipated to rise at a healthy CAGR of 8.50% during the period from 2014 and 2020. The research report, titled “Sports Nutrition Products Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020,” projects this market to increase from a total value of US$30.0 bn in 2013 to an estimated value of US$52.5 bn by the end of the forecast period.
In terms of volume, the worldwide market produced 8.6 bn kg of sports nutrition products in 2013. Analysts expect the production volume of this market to expand at a CAGR of 8.0% between 2014 and 2020 to stand at 14.7 bn kg by 2020.Sports nutrition products are primarily consumed by sportspersons, athletes, and bodybuilders to boost their strength in order to enhance their performance. These products mainly include proteins, vitamins, minerals, carbohydrates, and fats. The global market for sports nutrition products is witnessing a surge in demand, thanks to the increasing interest of youth in sports. The growing awareness among people regarding fitness and healthcare is also propelling the global sports nutrition products market significantly.
The report evaluates the worldwide sports nutrition products market on two fronts: Product and region. Based on product, the market has been categorized into sports drinks, sports supplements, and sports food. In terms of demand and consumption, sports drinks lead this market. In 2013, 8.2 bn liters of sports drinks were consumed across the world. However, in the coming years, sports food is likely to witness a high rise in terms of demand among consumers. The segment is estimated to register a CAGR of 9.60% during the forecast period.
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Regionally, the report has segmented the worldwide sports nutrition products market into Asia Pacific, Europe, North America, and the Rest of the World. North America has been leading this market since the last few years. In 2013, the regional market attained a valuation of US$10.5 bn. The increasing awareness regarding fitness and the increasing interest of the younger generation in sports are fueling the demand for sports nutrition products in this region. Analysts anticipate this market to maintain its dominance over the forecast period.
Europe acquired the second position in the global market in 2013. The regional market is projected to rise at a CAGR of 8.20% over the forecast period and reach a value of US$15.4 bn by the end of 2020. Asia Pacific, however, is likely to register the fastest growth among all the regional markets during the same time period, notes the research study.
Pepsi Co., Reckitt Benckiser Group Plc, GNC Holdings Inc., The Coca-Cola Co., Abbott Nutrition Inc., Monster Beverage Corp., Nestlé S.A., Yakult Honsha Co Ltd., Glanbia Plc, and MaxiNutrition Ltd. are the major international manufacturers of sports nutrition products profiled in this research report.
The global market for sports nutrition products is segmented into:
Rest of the World