Global Sports Nutrition Market Expected to Reach $37.7B in 2019

by Christine Hronec

 
A new market report published by Transparency Market Research valued the global sports nutrition market at US $20.7B in 2012 and expects it to grow at a CAGR of 9.0% from 2013 to 2019, to reach an estimated value of US $37.7B in 2019.

The report – Sports Nutrition Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019 – says that increasing health awareness and changing consumer groups are the major growth drivers for the global sports nutrition market. Traditionally, bodybuilders and athletes were the only consumers for sports nutrition products. In recent years, new user groups (recreational and lifestyle users) have increased their market share. Furthermore, changing consumer preferences and expansion of distribution channels promote the growth of this booming industry.

Developed regions such as the US and countries in Europe have been the dominant market shareholders. However, as consumers in developing nations are increasingly spending their income on health and health-related products, these economies are expected to pose a serious challenge to the supremacy of developed economies.

Organizing high-profile sports events in these countries is further expected to escalate the demand for sports nutritional products in these markets. The sports nutrition market is broken down into three segments:

• Sports Food
• Sports Drinks
• Sports Supplements.

Sports Drinks was the largest segment, increasing to US $12,435.4m in 2012, up 7.3% over 2011. The US is the world’s largest consumer base for Sports Drinks. Other major markets are the UK, Germany and Italy. Major growth drivers of the sports nutrition market in the US are increasing lifestyle users and changing consumer behavior towards new sports nutrition product formats such as ready-to-drink and energy bars.

Sports nutrition product distribution is slowly shifting from gym and health stores to supermarkets as the preferred distribution channel. Asia Pacific is the fastest growing market for sports nutrition products. The sports nutrition market is well established in countries such as Japan, China and Australia. The main reason behind the growth of the sports nutrition market in Asia Pacific is increasing awareness about healthy living. Some of the major companies operating in the market are Maxinutrition, Glanbia, PepsiCo, Coca-Cola, and Clif Bar & Company.

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