5 Key Insights on Sports Nutrition Market for Forecast Period 2017-2022
Published : 14 Sep 2017 Industry: Food & Beverage
Delivering targeted nutrition to perform various sports activities, sports nutrition in form of powders, bars, drinks have been popular among athletes and sportspeople. However, nowadays, sports nutrition extends far beyond sportspeople and is also gaining popularity among people moving towards a healthy lifestyle including mass building, weight management. Manufacturers of sports nutrition products are focusing on the new and specialized ingredients that can supply energy and meet the nutrition requirement. Manufacturers have started targeting fitness lifestyle users, for whom the key to a high-performance lifestyle is fitness. New appealing flavors are also being introduced, enhancing the taste and maintaining the level of protein. Research is also being conducted to include natural ingredients that are less harmful.
However, the biggest challenge remains for new entrants and startups, as in case of sports nutrition products high-preference is given to the branded and certified products. Hence, to remain competitive, companies are focusing on ingredients, a taste of the products, delivery channels, and other factors.
According to the latest report by Fact.MR, the global sports nutrition market is expected to witness above average growth, registering 5.2% CAGR during the forecast period, 2017-2022. With the growing concern towards healthy lifestyle and fitness, not only serious athletes, but people who are focusing on weight management and mass building have also started consuming sports nutrition products or food in form of bars, powder, etc. Following are the insights on how the global sports nutrition market will perform in the next five years.
5 Key Highlights on Global Sports Nutrition Market
- North America is expected to be dominant in the global sports nutrition market. The market is estimated to reach close to US$ 4,000 million value by the end of 2022. Increasing participation in sports activities with the development of sports infrastructure and obesity as a significant health concern among people, the sports nutrition market in North America is expected to witness steady growth.
- Europe is expected to emerge as the second largest market in sports nutrition. The region is anticipated experience above average growth during 2017-2022
- Powder sports nutrition products are likely to emerge as one of the highly preferred products in sports nutrition. Towards the end of 2017, powder sports nutrition products are expected to gain around two-third of the revenue share on global revenues.
- With the increasing prevalence of obesity and overweight, weight management is expected to be the most adapted and important approach towards a healthy lifestyle. Hence, sports nutrition will witness high adoption in weight management. Weight management as a function type in sports nutrition is estimated to reach nearly US$ 4,500 million revenue towards the end of 2022.
- Institutional sales is likely to emerge as one of the biggest distribution channels for sports nutrition. Towards the end of 2022, institutional sales of sports nutrition is projected to bring in nearly US$ 2,700 million revenues. Meanwhile, online stores are also expected to witness significant growth during the forecast period.
The report also provides detailed profiles of leading players in the global market for sports nutrition, which will remain active through 2022. These include companies such as Abbott Laboratories, Glanbia Plc., GlaxoSmithKline Plc., GNC Holdings Inc., Amway Corporation, Vitaco Health Limited, ABH Pharma Inc., Atlantic Multipower UK Ltd., Herbalife International of America Inc., Makers Nutrition Llc., Nu Skin Enterprises, Inc., Shaklee Corporation, USANA Health Sciences, Inc., and Vitacost.com Inc.