Sports Nutrition Products Market is Estimated Value of US$52.5 bn by 2020
Sports nutrition products have gained popularity among various groups of consumers in recent times. Sports nutrition products refer to energy bars and drinks, protein bars and dietary supplements. These products are manufactured using ingredients including creatine, linoleic acid, caffeine and taurine among others. Increasing health awareness is one of the major factors fueling the demand for sports nutrition products globally. In addition, rapid urbanization and rise in disposable income of the consumers is also expected to boost the demand for sports nutrition products globally. However, availability of counterfeit products is expected to restrain the demand for sports nutrition products in the forecast period.
Sports drinks is the largest product segment valued at 8.21 billion liters in 2013. However, sports food segment is expected to be the fastest growing market growing at a CAGR of 9.6% from 2014 to 2020. Increasing amount of disposable income owing to rapid urbanization is one of the major factors fueling the demand for sports drinks globally. However, Europe is also one of the major markets for sports nutrition products. The sports nutrition market in Europe is expected to reach USD 15.45 billion by 2020 growing at a CAGR of 8.2% over the forecast period.
North America is the largest market for sports nutrition products and is expected to continue its market dominance throughout the forecast period. The sports nutrition market in North America was valued at USD 10.53 billion in 2013. However, owing to increasing health awareness the sports nutrition market is expected to experience stable growth in the coming years. However, Asia Pacific is the fastest growing market for sports nutrition products. The sports nutrition market in Asia Pacific was valued at USD 5.91 billion in 2013.
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Major industry participants include Maxinutrition Ltd (U.K.), PepsiCo (U.S.), The Coca-Cola Company (U.S.), Glanbia Plc (Ireland), GNC Holdings (U.S.), Monster Beverage Corporation (C.A.), Nestlé S.A. (Switzerland), Reckitt Benckiser Group Plc (U.K.), Abott Nutrition Inc (U.S.), Yakult Honsha Co Ltd. (Tokyo) among others.