Rapid urbanization, growing health awareness among consumers, rise in disposable income, and introduction of new ingredients in sports nutrition products are some of the key factors driving the market. Developing areas in Asia Pacific and Rest of the World region offer immense expansion opportunities to market players. On the down side, availability of counterfeit products and expanding distribution channels pose a threat to the growth of the market, according to TMR.
By product type, the sports nutrition products market is segmented into sports drinks, sports food, and sports supplements. Pegged at 8.2 billion liters in 2013, sports drinks formed the largest segment of the sports nutrition products market. This segment is largely driven by the rise in disposable income and rapid urbanization. Sports supplements held a 10.0% share in the overall market in terms of revenue and are anticipated to witness strong growth during the forecast period. Registering an impressive 9.60% CAGR from 2014 to 2020, the sports food segment is projected to develop at the fastest pace.
Geographically, the global sports nutrition products market covers four main regions: Asia Pacific, Europe, North America, and Rest of the World. In 2013, North America emerged as the leader in the overall market and was valued at $10.53 billion. Driven by growing health awareness, this region is anticipated to witness strong growth in the coming years and retain its lead position throughout the forecast period. Europe is also a major market for sports nutrition products and this region is anticipated to have an 8.20% CAGR from 2014 to 2020, reaching a value of $15.4 billion by the end of the forecast period. The sports nutrition products market in Asia Pacific, which was valued at $5.9 billion in 2013, is projected to develop at the fastest pace from 2014 to 2020. This region is fueled by improving economic conditions, growing awareness regarding health and nutrition, and rise in disposable income.
The research report identifies and reviews the key players functioning in the global sports nutrition products market. The companies featured in the report include The Coca-Cola Company, MaxiNutrition Ltd., GNC Holdings Inc., Glanbia plc, Yakult Honsha Co Ltd., Reckitt Benckiser Group Plc, Monster Beverage Corporation, PepsiCo Inc., Abbott Nutrition Inc., and Nestlé S.A. These companies are studied based on recent developments, business strategies, and business and financial overview.