The global sports nutrition market was valued at $27,821.8 million in 2015 and is expected to register a CAGR of 8.4% during the forecast period (2016–2022). The major factors driving the growth of the market include the increasing health consciousness and rising number of fitness centers and health clubs across the globe.
Based on type, the sports nutrition market is categorized into sports food, sports supplements, and sports drinks. Among these, sports drinks accounted for the largest share in the market in 2015. This is attributed to the easy availability of a wide range of sports drinks, coupled with the growing consumer awareness about the different types of flavors and ingredients in such beverages.
The U.S. and European countries are the major markets for sports nutrition products across the globe. However, emerging economies, such as China and India, are expected to grow the fastest in the sports nutrition market in the forecast period. The rising disposable income, increasing population of youth, and rapid urbanization are the major factors driving the growth of the market in these countries.
The key factor aiding in the progress of the sports nutrition market on the global level is the increase in the number of fitness centers and health clubs. With the rising number of fitness centers and health clubs across the globe, there is increasing health awareness in countries such as the U.S. and India. For instance, according to the International Health, Racquet & Sportsclub Association (IHRSA), in 2016, there were around 57 million people registered with health clubs, an increase of 3.6% from 2015. The growth in the number of members is attributed to the rising health awareness among the populace.
Due to the negative perception of consumers about ingredients such as stimulants, anabolic steroids, and prohormones, the sports nutrition market players have faced a lot of hurdles in winning the trust of consumers. Some products that contain caffeine and dimethylamylamine (DMAA) have been banned by the World Anti-Doping Agency. The overuse of these products can cause sleep deprivation, heart ailments, and other dangerous diseases.
The key companies operating in the global sports nutrition market are Glanbia PLC, PepsiCo. Inc., Abbott laboratories, GNC Holdings Inc., The Coca Cola Company, GlaxoSmithKline PLC, Clif Bar & Company, Universal Nutrition Corp, Creative Edge Nutrition Inc., and Monster Beverage Company.
Key questions answered in this report
What is the current scenario of the global sports nutrition market?
What are the historical and present size of the categories within the market segments and their comparative future potential?
What are the major catalysts for the sports nutrition market and their impact during the short, medium, and long terms?
What are the evolving opportunities for the players in the sports nutrition market?
Which are the key regions from the investment perspective?
What are the key strategies being adopted by the major players to expand their market share?