According to the report, the role of sports nutrition products has witnessed a paradigm shift from ‘muscle building’ to one that promotes wellness and disease prevention. A fitness-crazy generation and the good-health image of sports drinks are factors driving growth in sports/energy drinks and sports/energy bars segments. Additionally, sports beverages are increasingly being used as refreshment drinks, which are further fuelling demand for these products in the marketplace. Presently, sports and energy bars are one of the fastest growing segments. Consumers who are on the move, or are too busy to have a proper meal are now more inclined towards sports and energy bars as healthy food alternatives.
Despite recovery from the impact of the global economic recession, uncertainty over stability of this recovery continues to persist. The Euro-zone sovereign debt crisis is proving to be a potential threat to market stability and global growth prospects. Sluggish recovery rates had a negative impact on the European economic growth and added to the macroeconomic uncertainties globally. In such pensive economic conditions, manufacturers of sports nutrition products find it extremely tricky to chalk-out near-term business expansion plans. The gloomy economic conditions are likely to reduce consumer spending and turn purchasing habits towards cheaper and economical alternatives. Further, financial shortfalls of suppliers and customers are likely to delay product introductions and aggravate inventory challenges. A large number of products in the sports nutrition market are premium products, and in a scenario where consumers are cutting down on unnecessary expenditure, it would be extremely difficult for manufacturers to generate profits out of the luxury and value-added product segments.
Sports and Energy Drinks market is no longer considered a niche segment in the beverage industry, with usage confined only to athletes and persons engaged in physical exercises and sports. The scenario has radically changed, with majority demand generated by active lifestyle users, keen on staying fit. Sports/energy drinks account for a massive chunk of the sports nutrition products market and are slowly foraying into the larger beverage market and are now becoming a part of the mainstream cluster. Major sports drink companies such as Coca-Cola and PepsiCo, are launching aggressive advertising campaigns to promote brands and capture attention of health conscious consumers. Energy beverage makers are also aware of demands of active lifestyle users while bringing about innovations in their product lines. Sales in energy and sports drink segment are also being driven by growing number of product introductions promising natural ingredients that offer long lasting and sustainable energy benefits.
Sports and energy bars, part of the effervescent Sports and Energy Foods category, represents one of the fastest growing markets, as consumers are turning busier day-by-day and are more impulsive towards their purchases of meals or meal replacements. Bars are mainly used as meal replacement snacks, which can provide quick medium of replenishing energy levels of the body. Ever since energy bars were first invented, efforts have been concentrated to develop products keeping in mind nutritional needs of both athletic and active lifestyle users. PowerBar, a pioneer in the food and energy bars business has played a revolutionary role in the category. Popular distributors of nutrition bars are food stores that garnered a big chunk of the market share. Drugstores are also the fast emerging distribution option in the bar category.
As stated by the new market research report on Sports and Fitness Nutrition Foods and Drinks, the U.S. constitutes the largest market worldwide. Favorable demographics, aging baby boomers and a sedentary lifestyle are the major growth promoters of the fitness industry in the country. The sports nutrition market witnessed exponential growth over the years due to new innovations, novel packaging and marked changes in consumer preferences. Sports supplements and sports nutrition functional foods are among the leading categories exhibiting strong growth. Latin America represents the fastest growing regional market displaying a CAGR of about 9.5% over the analysis period. Despite accounting for a small portion to the world’s food and beverage market, Latin America is expected to emerge as the hotspot in the coming years. The market for sports and energy drinks in Latin America is expected to surge in the near future primarily due to rising income levels, increased focus on health and wellness and willingness of consumers to spend on the category.
Major players profiled in the report include Abbott Laboratories Inc., Coca-Cola Co., Dr Pepper Snapple Group Inc., GlaxoSmithKline Plc., GNC Holdings Inc., Monster Beverage Corporation, Optimum Nutrition Inc., PepsiCo Inc., The Balance Bar Company, Red Bull GmbH, and Rockstar Inc., among others.
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