Sports Nutrition Market in the US Will Boom with Increasing Demand for Protein-Based Sports Nutrition Products Through 2019, Says Technavio

LONDON--()--Technavio analysts forecast the sports nutrition market in the US to surpass USD 8 billion by 2019, growing at a CAGR of more than 7%, according to their latest report.

The research study covers the present scenario and growth prospects of the sports nutrition market in the US for 2015-2019. The market size is calculated based on the retail sales of the two product segments, including protein-based products and non-protein-based products.

Technavio’s food and beverage analysts highlight the following four factors as the major growth drivers for the sports nutrition market in the US:

  • Growing urge for fitness
  • Mainstream positioning
  • Growing popularity of fitness regimes and programs
  • Increasing demand for protein-based sports nutrition products

Growing urge for fitness

According to the research study, there is a growing need among the US consumers to lead a fit and healthy lifestyle. Therefore, they often indulge in rigorous workout sessions. The major reason for the emergence of this health and wellness trend is to reduce the occurrence of various diseases such as diabetes and obesity.

Vijay Sarathi, one of Technavio’s lead food industry research analysts, says, “Obesity among Americans is of great concern. According to the Centers for Disease Control and Prevention, the obesity rate is the highest in the age group of 40 years to 59 years, whereas the younger group of 20 years to 39 years has the lowest rate of 29%.”

Mainstream positioning

Although bodybuilders and athletes are the primary target group, regular working people are also consuming sports nutrition products. Therefore, vendors have begun to target the mass consumers by introducing economically priced products in the market. They are also gradually increasing their distribution channels to reach this mainstream audience. Various convenient forms of product like protein powders and tablets are heavily present in supermarkets, drugstores, and mass merchants.

“In 2014, CytoSport's Muscle Milk was highly present in frequently visited grocery stores. Other brands like Lovate Health Science and NBYT have created completely separate product lines to cater to the price-sensitive customers. Therefore, this heavy flooding of the products in the US market is creating high awareness and consequently increasing revenue,” says Vijay.

Growing popularity of fitness regimes and programs

The Let's Move health-related initiative was announced by the President's Council on Fitness, Sports, and Nutrition in 2010 in the US, to educate and create awareness among the consumers regarding the benefits of physical fitness. Over the last three years, there has been a rise in gym memberships by nearly 2.5%. Because of the increase in health consciousness, the popularity of marathons has also increased.

In 2014, nearly 725 marathons were held with over 100,000 finishers, and both numbers are expected to increase by the end of 2015. Also, an increased number of fitness regimes like Zumba, CrossFit, and high-intensity training have indirectly led to the increase in the consumption of training supplements.

Increasing demand for protein-based sports nutrition products

The protein-based products segment is the most profitable sector of the sports nutrition market in the US. In 2014, the revenue from sales in the protein-based products market was nearly USD 7.8 billion, and more than 60% of the revenue came from the US protein-based products market. Protein-based products are positioned as recovery and meal replacement products. Also, the diverse health benefits such as weight management, strengthening of the immune system, and muscle building have led to higher demand in this segment. Plant-based and animal-based protein drinks are slowly gaining momentum and companies like Clif Bar are constantly introducing vegan-based protein bars into their product lines.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the sports nutrition market in the US to surpass USD 8 billion by 2019, growing at a CAGR of more than 7%, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com