Global Sports Nutrition Market Has Witnessed to Reach US $90.35 Bn by 2024
London, UK -- (SBWire) -- 11/15/2018 --Global Sports Nutrition Market was Valued at US$ 45.27 Bn in 2017, Surge in Demand for Nuritional Products from Athletes and Sports Persons
"The Global Sports Nutrition Market was valued around US$ 45.27 Bn by 2017 and growing at a significant CAGR over seven years forecast period 2018-2024 owing to grow in demand for the nutritional products from athletes and sports persons"
Precision Business Insights (PBI) in its report titled "Global Sports Nutrition Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024" assesses the market performance over seven years forecast period over 2018-2024. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global sports nutrition market was valued at US$ XX Mn in 2017 and increasing at a significant CAGR over the forecast timeframe owing to surge in the adoption of nutritional supplements by athletes around the globe. Moreover, rise in number of fitness centers and health clubs, grow in awareness about the protein diet among the athletes, and better availability of the products are expected to drive the global sports nutrition market. However, high cost for the nutritional products, false perceptions and misleading claims about the products, and availability of alternate products for sports nutrition are anticipated to deter the revenue share of global sports nutrition market.
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Global sports nutrition market segmented on the basis of product type, distribution channel, and region
Energy Drinks Dominate the Global Sports Nutrition Market
Based on the product type, global sports nutrition market segmented into energy drinks, powders, juices, capsules and tablets, and other sports nutrition products. Energy drinks dominated the global sports nutrition market in 2017 and estimated to dominate over the forecast period owing to rise in promotion of energy drinks as a healthier alternative to aerated drinks, mental and physical benefits associated with the drinks are projected to surge the market over the forecast years.
North America Leads the Global Sports Nutrition market
PBI's global sports nutrition market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America accounted for larger revenue share through 2013-2017 and expected to dominate over 2018-2024 owing to surge in the rise in adoption of nutritional products by athletes and sports persons, grow in number of sports clubs, increase in disposable income, and launch of newer products are propel the market. Asia Pacific sports nutrition market projected to exhibit significant growth due to strong economic growth rate in emerging countries such as India, and China among others.
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Novel Packaging's, Different Formulations and Marketing Campaigns are the key strategies adopted by market players
Global sports nutrition market further reveals that the key players increasingly adopting strategies such as novel packaging's, different formulations, product launches and marketing campaigns to improve market revenue share and gaining significant geographic presence across the region. For instance. In Feb 2017, Fonterra's dairy ingredients business introduced new whey protein ingredient for sports nutrition
Key player's profiles in the report are Abbott Nutrition Inc. (U.S.), The Coca-Cola Company (U.S.), PepsiCo Inc. (U.S.), Reckitt Benckiser Group plc. (U.K.), Glanbia Plc. (Ireland), Yakult Honsha Co Ltd (Japan), Otsuka Pharmaceuticals Co., Ltd. (Japan), GlaxoSmithKline plc. (U.K.), Atlantic Multipower UK Limited (U.K.), Olimp Laboratories (Poland), PowerBar Europe GmbH (Germany), and Ultimate Nutrition Inc. (U.S.)
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By Product Type
o Energy Drinks
o Capsules and Tablets
By Distribution Channel
o Retail Pharmacies
o Drug Specialty Stores
o Fitness Stores
o North America
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
o Latin America
- Rest of Latin America
o Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
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