Sports Nutrition Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Albany, NY -- (SBWIRE) -- 09/07/2016 -- Sports nutrition products such as energy drinks, dietary supplements, and protein bars are expected to gain popularity among consumers over the next few years. The burgeoning awareness regarding a balanced diet and healthy lifestyle are factors that are likely to contribute to the growth of the global sports nutrition market. Moreover, a surge in the number of youth involved in sports activities is another factor fueling the demand for sport nutrition products across the world.
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According to a report published by Transparency Market Research, the global sports nutrition market is projected to expand at an 8.5% CAGR between 2014 and 2020. In 2013, the global sports nutrition market stood at a value of US$30.0 bn and is likely to touch a valuation of US$52.5 bn by 2020.
What factors are aiding the growing demand for sports nutrition products?
With the fast-paced lifestyle taking over, it has become imperative for consumers to switch to healthy food habits. Owing to this, the consumption of sports nutrition products has not only increased among athletes, but also among health conscious consumers engaged in fitness activities. Extensive urbanization and increasing disposable income levels of consumers in developing countries are further anticipated to augment the growth of the global sports nutrition market. The global sports nutrition market is anticipated to witness strong growth in the coming years due to the introduction of advanced and new sports nutrition products.
According to a report by Physical Activity Council, 61% of kids across the world are engaged in fitness activities. Considering this fact, numerous companies engaged in the production of sport nutrition beverages and bars are focusing on the development of products that will cater the energy needs of young athletes. It is expected that the introduction of sports nutrition products for children will help manufacturers gain a new consumer base over the next few years.
Browse the full Sports Nutrition Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 report at http://www.transparencymarketresearch.com/sports-nutrition-market.html
What factors are likely to negatively impact the sales of sports nutrition products?
The rise in the number of distribution channels has provided local manufacturers with a significant platform to increase their consumer base. Of the various distribution channels available, online retail platforms are gaining popularity among numerous manufacturers and sellers of sports nutrition products. This has, in turn, resulted in an abundance of substitutes and counterfeit products in the global sports nutrition market. The mass availability of such identical and low-cost sports nutrition products is likely to impede the sales of sport nutrition products manufactured by international companies. At the regional level as well, the local manufacturers are gaining a hand over the international companies due to their low pricing strategies and similar products in terms of taste and quality.
Which region is likely to provide productive growth opportunities to manufacturers of sports nutrition?
North America emerged dominant in the global sports nutrition market in 2013 with a market worth US$10.5 bn. The rise in fitness awareness among the youth is the key factor driving the demand for sports nutrition in this region. The sports nutrition market in North America is further expected to grow until 2020 owing to the research and developments activities to develop high-quality products. Manufacturers of sports nutrition products are focusing on achieving profit from this opportunity and expand their consumer base. North America is anticipated to be closely followed by Europe.
The leading companies operating in the global sports nutrition market are Reckitt Benckiser Group Plc, Pepsi Co., GNC Holdings Inc., Abbot Nutrition Inc., Nestle S.A., and Monster Beverage Corp. among others.
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