Global Sports Nutrition Market Report, published by Variant Market Research, forecast that the global market is expected to reach $66 billion by 2024 from $36 billion in 2016; growing at a CAGR of 7.7% from 2016 to 2024. By geography, Asia-Pacific and RoW are expected to grow at a CAGR of 8.4% and 7.9%, respectively, during the forecast period.Sports nutrition products are developed to help in health improvement, and muscle growth of athletes &bodybuilders. Varieties of sports nutrition products are offered by key manufactures of the market, such as sports food, sports drink, and sports supplements.
"Sports NutritionMarket (By Product Type:Sports Food, Sports Drink, and Sports Supplements; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 – 2024"
Growth in number of fitness centers &health clubsto drive the growth ofthe sports nutritionmarket
The factors supporting growth of the global sports nutritionmarket aregrowth in number of fitness centers &health clubs,rising personal appearance concerns, andrapid urbanization.However,food safety concernmay act as a restraint for the growth of the market. Moreover, rapidly growing distribution channels and high demand in emergent countrieswould provide several growth opportunities for the market in the future years.
Product type and geography are the major segments considered in the globalsports nutritionmarket. By product type, the market is bifurcated intosports food, sports drink, and sports supplements. By geography, the market is segmented intoNorth America, Europe, Asia Pacific, and Rest of the World (RoW). North America covers the U.S., Canada, and Mexico. UK, Germany, France, Italy, and Rest of Europe are analyzed under the European market. India, China, Japan, Australia, and Rest of Asia-Pacific are included under the Asia-Pacific market. While RoW is bifurcated into South America, Middle East, and Africa.
Sports drink accounted for the largest market share in the product type segment
Global Sports Nutrition Market, by Product Type
Sports drink accounted for the largest market sharein 2016, in the product type segment, and is expected to continue its dominance during the forecast period 2016 – 2024,owing to its high demand coupled with consumption primarily by athletes to refill the water level in the body.
North America dominated the global market with highest market share over the forecast period
GLOBAL SPORTS NUTRITION MARKET SHARE BY GEOGRAPHY,2016 (%)
North Americadominated the global sports nutrition market with largest market share of 35.2% in 2016, and expected to continue its dominance during the forecasted period, owing to high demand of protein-based sports products coupled with rising investment in fitnessin countries such as the U.S. and Canada.
The major players operating in the market are Yakult Honsha Co., Ltd., Glanbia Plc., Abbott Nutrition Inc., The Coca-Cola Company, PepsiCo Inc., GNC Holdings, Clif Bar & Company, Reckitt Benckiser Group plc, Post Holdings, Inc., and Otsuka Pharmaceuticals Co., Ltd., among others.