Albany, NY, March 13, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Sports Nutrition Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" the market was valued at USD 29.74 billion in 2013, which is expected to reach USD 52.55 billion by 2020, growing at a CAGR of 8.5% from 2014 to 2020. In terms of volume, the global sports nutrition products market was valued at 8.58 kg billion in 2013 and is expected 14.67 kg billion by 2020, growing at a CAGR of 8.0% from 2014 to 2020.
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Sports nutrition products cater to the consumers who are concerned about their health and fitness. Sports persons are the major consumers of such products. Regular consumers are also shifting towards sports nutrition products to reduce the health issue and to remain active in their busy schedule. These products are manufactured with ingredients like creatine, linoleic acid, caffeine, taurine and various others. Health issues like obesity have increased globally over the years. Increasing health awareness among the consumers, rapid urbanization and rise in disposable income of the consumers are the major factors driving the demand for sports nutrition market. Developing countries offer better penetration opportunities for the manufacturers of sports nutrition products.
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Availability of counterfeit products is one of the major factors restraining the growth of sports nutrition market. North America held the largest market share in the sports nutrition segment and is expected to remain the same over the forecast period. Europe is second largest market for sports nutrition products. However, Asia Pacific is the fastest growing market for sports nutrition products. Increasing consumption of sports nutrition products is one of the major factors fueling the demand for sports nutrition products in Asia Pacific, Brazil, India, and Argentina are some of the major markets boosting the demand for sports nutrition products globally.
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North America is expected to remain the market leader globally over the forecast period owing to increasing health concern among the consumers and the widespread awareness of sports nutrition products among the consumers. Sports food segment accounted for the largest market share in 2013. However, sports drink segment is the fastest growing segment.
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Major industry participants include Maxinutrition Ltd (U.K.), PepsiCo (U.S.), The Coca-Cola Company (U.S.), Glanbia Plc (Ireland), GNC Holdings (U.S.), Monster Beverage Corporation (C.A.), Nestlé S.A.(Switzerland), Reckitt Benckiser Group Plc (U.K.), Abott Nutrition Inc (U.S.), Yakult Honsha Co Ltd. (Tokyo). The report studies the Global Sports Nutrition Market, and provides estimates in terms of revenue (USD Billion) and volume (kg billion) and ASP from 2014 to 2020. Market estimates on the basis of product type have also been provided for each region.
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The market has been segmented as follows:
Sports nutrition products Market, by Product
- Sports Food
- Sports Drink
- Sports Supplements
Sports nutrition products Market, by geography:
- North America
- Europe
- Asia Pacific
- Rest of the World
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.