Persistence Market Research Released New Market Report on “Sports Supplements Market:Global Industry Analysis and Forecast to 2020” in the category "Sports Supplements Market"
New York, NY -- (SBWIRE) -- 09/24/2014 -- Sports supplements, sometimes also known as ergogenic aids, are products which are consumed by the athletic centric consumers to enhance their athletic performance. Sports supplements are viewed as dietary supplements by most of the consumers. Majority of sports supplements products are marketed as over the counter products and can be purchase without any doctor prescription.
Although, sports supplements are used to enhance performance of the athletic, some of the sports organizations such as The National Football League (NFL), the National Collegiate Athletic Association (NCAA) and the International Olympic Committee (IOC) have banned use of certain supplements such as steroids, ephedra and androstenedione by their athletes. Athlete or sportsperson found guilty of consuming any of such banned products may face suspension from that sport. The National Federation of State High School Associations (NFHS) of the U.S. strongly recommends that every sports interested student must consult their doctor before taking any sports supplement.
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Some of the majorly marketed sports supplements are androstenedione (natural steroids that can be broken down into testosterone), creatine (most effective for athletes doing intermittent high-intensity exercise with short recovery intervals such as sprinting and power lifting) and fat burners (acting as a stimulant which increases metabolism and helps in reducing weight). Sports supplements are considered as performance enhancers, fat burners, muscle builders, meal replacements, weight gainers and energy formula. Traditionally, bodybuilders and athletes were the only consumers for sports supplements products. In recent years, new user groups (recreational and lifestyle users) have increased their market share in sport supplements market.
North America has largest market share for sports supplements, followed by Europe and Asia-Pacific. Developed market such as the U.S. and European countries dominates the sports supplements market. However, changing purchasing pattern in the developing nations can pose challenge to the monopoly of the developed market. Demand for sports supplements in the developing countries of Asia-Pacific such as India and China is expected to show better growth prospects in coming future due to increasing domestic consumption associated with increasing expenditure on healthy food items.
Increasing health awareness and changing consumer preferences towards healthy eating is acting as major driver for the global sports supplements market. According to a report published by a U.K.-based independent food research company in 2012, the proportion of respondents following healthy diet in the U.K. has increased from 70% in 2004 to 80% in 2012. Additionally, with increase in disposable income consumers have started spending their income on health and health related products. In India, average annual disposable income increased by more than 29% (in real terms) between 2007 and 2012, while consumer spending on healthy food products increased by more than 25% during the same time. Such trend is expected to provide ample growth opportunities for the global sports supplements market especially, in the developing countries of Asia-Pacific and Europe. Furthermore, low per capita consumption and upcoming high profile sports events around the globe provide growth opportunities for the market players to establish themselves in these markets.
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Sports supplements market is dominated by established players. Some of the companies operating in the global sports supplements market are Maxinutrition, Glanbia, PepsiCo, The Coca-Cola Company, Universal Nutrition, GNC Holdings and Clif Bar & Company.
Key points covered in the report:-
1. Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2. The report covers geographic segmentation
3. The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4. The report provides company profiles of some of the leading companies operating in the market
5. The report also provides porters five forces analysis of the market.
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