Though sports dietary supplements were initially targeted at athletes to support their heightened nutritional requirements, the rising number of people conscious about their health and physique has fueled the growth of the global sports supplement market. The increasing number of health clubs and fitness centers has helped the market considerably.
However, a lack of proper regulatory bodies could negatively affect the global sports supplement market. There have been numerous reports of sports supplement manufacturers using new dietary ingredients in supplements that have not been tested for their safety and efficacy. The Food and Drug Administration (FDA) has recently warned 14 sports supplement companies to not use DMBA (1,3-dimethylbutylamine), a drug that raises blood pressure, in their products.
Such factors have helped paint a bad picture of the market among the masses. Expanding distribution channels are one of the major challenges faced by the organized sports supplement market.
Substitute products are now easily competing with sports supplements products, thereby affecting the growth of the market.
The increasing urban population in Asia-Pacific is expected to open a huge opportunity for the global sports supplement market. Manufacturers are promoting their products through advertising in various sports events and endorsements by famous sportspersons.
This will further boost the expansion of the market. Sport supplements are usually available at health food stores, supermarkets, and pharmacies.
However, it has recently been observed that consumers prefer to purchase products through ecommerce. This new trend will shake up the distribution channels of the global sports supplement market.
The overall market has been segmented on the basis of the products offered into protein-based supplements and non-protein based supplements. Protein-based supplements have been further sub-segmented into protein powder and ready-to-drink (RTD) protein supplements.
Protein powder is the largest product segment in the global sports supplement market and is estimated to grow at a CAGR of 9.4% from 2014 to 2020. This segment is expected to be valued $8 billion by 2020
Globally, the sports supplement market has been segmented into Europe, Asia-Pacific, and North America. North America is the leading region of the global sports supplement market, followed by Europe and Asia Pacific.
The U.S. and Canada contribute significantly toward the growth of the overall market in this region. However, the robust demand for sports supplement from the developing economies in Asia Pacific is expected to challenge the North American market.