Albany – NY, Oct. 21, 2015 (GLOBE NEWSWIRE) — TMR analysts say that lack of inflation in the sports nutrition products market in the forecast period, which is indicated by the marginal difference in the market’s CAGR by revenue and volume, will benefit growth of the market.
Historically, in developing economies in Asia Pacific and in Rest of the World, lack of education and insufficient resources have been reasons for the average consumer to refrain from buying new healthcare products. Nevertheless, in recent times, due to economic development and consequent increase in purchasing power, large manufacturers of sports nutrition products are mainly targeting these regions for increased market share in the global sports nutrition products market.
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However, in these regions, the limited number of official distribution channels for sales of sports nutrition products is challenging growth of this market. As a repercussion, substitute products that are available at much lower prices are benefitting due to the operating insufficiencies in the sports nutrition products market.The report examines the global sports nutrition products market on the basis of products and geography. By product, sports food, sports supplements, and sports drinks are the various segments of the sports nutrition products market.
In 2013, sports drinks dominated and accounted for 8.21 bn liters in the sports nutrition products market. However, sports food is slated to emerge as the fastest growing product segment, displaying a CAGR of 9.6% for the forecast period. Sports supplements currently account for 10% of the market by revenue and will exhibit steadfast growth between 2014 and 2020.By geography, the global sports nutrition products market is divided into North America, Asia Pacific, Europe, and Rest of the World (RoW). Amongst all, North America is the largest market for sports nutrition products and will retain its dominance for the forecast period.
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Europe stands as the second largest market for sports nutrition products, with the region expected to display a CAGR of 8.2% for the forecast period and reach a valuation of US$15.45 bn by 2020.However, Asia Pacific will emerge as the fastest growing market for sports nutrition in the forecast period.The major companies operating in the global sports nutrition products market are Maxinutrition Ltd (U.K.), The Coca-Cola Company (U.S.), GNC Holdings (U.S.), Nestle S.A. (Switzerland), Abott Nutrition Inc(U.S), PepsiCo (U.S.), Glanbia Plc (Ireland), Monster Beverage Corporation, Reckitt Benckiser Group Plc (U.K.), and Yakult Honsha Co Ltd. (Tokyo).
The report segments the sports nutrition market as:
Global Sports Nutrition Market, by Product Type
- Sports Food
- Sports Drinks
- Sports Supplements
Global Sports Nutrition Market, by Geography:
- North America
- Asia Pacific
- Rest of the World
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