LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global sports nutrition market predicts a CAGR of around 9% during the period 2017-2021.
The report segments the global sports nutrition market by product (sports protein powder, sports protein RTD, non-protein products, and sports protein bars), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global sports nutrition market, according to Technavio food and beverage researchers:
- Growing demand from non-traditional users: a major market driver
- In 2016, the sports protein powder segment dominated the market by occupying almost 65% share
- The Americas dominated the global sports nutrition market with over 47% share in 2016
- Atlantic Multipower UK, ProAction, Weider Global Nutrition, CLIF Bar & Company, and Glanbia are the leading players in the market
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Growing demand from non-traditional users: a major market driver
Growing demand from non-traditional users is one of the major factors driving the global sports nutrition market. Traditionally, sports nutrition products were purchased particularly by traditional users, such as athletes and bodybuilders, and the primary consumers were gym enthusiasts and individuals from millennials consumer group (those aged 20-34). However, currently, such products are penetrating the moderate and mainstream consumer base as well.
According to Manjunath Reddy, a lead analyst at Technavio for research on food, "With growing focus on a healthy lifestyle, consumers are choosing products that promise additional benefits. This has significantly propelled the global sports nutrition market among health-conscious consumers. Vegans and elderly consumers are also choosing sports nutrition products to fulfill their dietary protein needs. Another factor fueling the market is the increasing awareness about the benefits of sports nutrition products."
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Americas: largest sports nutrition market
Technavio researchers anticipate high growth for the global sports nutrition market in the Americas due to inclination toward healthy eating, growing number of health clubs, and rising demand for meal-replacement powders. In recent years, the rising occurrences of lifestyle diseases are making consumers health conscious and focused toward healthy eating. This trend is more prevalent among the younger population. In addition, the growing number of fitness centers indicate the increasing attention on fitness. Such a scenario is favorable for the sports nutrition market as the trainers and nutritionists in such centers suggest various sports nutrition products to consumers based on their personal requirement.
Competitive vendor landscape
The global sports nutrition market is highly competitive due to the presence of various regional and international players. Owing to the increasing demand for these products, manufacturers compete in terms of various parameters such as new product launches, product line extensions, price, marketing activities, and geographical expansion. The key players in the global sports nutrition market include Atlantic Multipower UK, ProAction, Weider Global Nutrition, CLIF Bar & Company, and Glanbia.
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