The global sports supplements market is growing at a steady rate mainly due to increasing consumer awareness about physical health. Sports supplements are also viewed as dietary supplements by most consumers, and taken in the form of capsules, pills, powders, gel caps, granules, and tablets.
New York, NY -- (SBWIRE) -- 01/19/2016 -- Persistence Market Research (PMR), a market intelligence and research firm, has recently published a market study on the global sports supplements market, according to which the market stood at US$6.8 bn in 2013. Analysts at PMR estimate the market to expand at a healthy CAGR of 9.10% during the period from 2014 to 2020 and gain a market value of US$12.4 bn by the end of the forecast period.
The research report, titled "Global Market Study on Sports Supplements: Protein Powder witness highest share in product segment by 2020", states that the worldwide market for sports supplement was valued at US$5.3 bn in 2010.
Request sample of this report: http://www.persistencemarketresearch.com/samples/3034
According to the market study, the rising awareness regarding healthcare and increasing concerns over fitness among consumers have resulted in higher consumption of sports supplements in the global arena. The augmenting number of health clubs and fitness centers across the globe is also driving the demand for sports nutrients significantly. In addition to this, the growing interest of youth in sports activities is likely to propel the global sports supplement market over the coming years, states the report.
The market report segments the global sports supplements market into the markets for RTD protein supplements, protein powder, other protein supplements, and non-protein supplements on the basis of the available products. The protein powder segment dominates the worldwide market for sports supplements. Analysts project this market segment to rise at a CAGR of 9.40% between 2015 and 2020 to reach a value of US$8 bn by 2020, from US$4.7 bn in 2014.
North America, Asia Pacific, Europe, and the Rest of the World are the key regional markets for sports supplements, notes the market study. Among these, the sports supplements market in North America holds the leading position and is closely followed by Asia Pacific and Europe. Canada and the U.S. are the biggest markets for sports supplements in North America.
Asia Pacific is likely to witness an immense rise in the demand for sports supplements, owing to the rising concerns for health and fitness in developing economies. The increase in disposable income has enabled consumers to spend more on healthcare, which is also stimulating the growth of this market in Asia Pacific.
View Detail Report: http://www.persistencemarketresearch.com/market-research/sports-supplements-market.asp
Emerging nations such as China, Japan, India, and Australia are undergoing rapid urbanization and are witnessing an extensive change in the purchasing patterns of consumers. This factor is likely to support the sports supplements market in this region over the forecast period.
The worldwide sports supplements market is highly fragmented in nature. NBTY Inc., Glanbia Plc, MaxiNutrition, GNC Holdings Inc., Creative Edge Nutrition Inc., Universal Nutrition, Herbalife Ltd., Enervit S.p.A, Plethico Pharmaceuticals Ltd., and Gaspari Nutrition Inc. are some of the key participants in the global market for sports supplements, mentioned in this report.
About Persistence Market Research (PMR)
Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
PMR stands committed to bringing more accuracy and speed to clients' business decisions. From ready-to-purchase market research reports to customized research solutions, PMR's engagement models are highly flexible without compromising on its deep-seated research values.