As per the latest report published by Variant Market Research, Global Sports Nutrition Market size was valued at $36 billion in 2016, and expected to reach $66 billion by 2024; growing at a CAGR of 7.7% from 2016 to 2024. Asia-Pacific and RoW are expected to grow at a CAGR of 8.4% and 7.9%, respectively, during the forecast period.
Global Sports Nutrition Market Dynamics
Global sports nutrition market trends are increase in urbanization, and rise in number of fitness centers &health clubs across the world, growing personal appearance concerns. Though, food safety concern may hamper the growth of the market. Furthermore, growing demand in emerging countries, and rapidly growing distribution channels would provide growth opportunities for the market during forecast period.
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Major segments covered under the global sports nutrition market scope are product type and geography. Product type segment comprises sports drink, sports food, and sports supplements. Under geography segment, North America, Europe, Asia Pacific, and Rest of the World (RoW) have been covered. U.S., Canada, and Mexico are included in North America. Europe region comprises UK, Germany, Italy, France, and Rest of Europe. India, China, Australia, Japan, and Rest of Asia-Pacific are covered under the Asia-Pacific. RoW includes South America, Middle East, and Africa. Moreover, Ireland, Australia, and New Zealand are also witnessing the significant demand of sports nutrition market.
Sports drink held the largest market share in the product segment
Sports drink occupied the highest market share in 2016, and it is expected to remain the largest over the forecast period 2016 – 2024. The growth is attributed to its high consumption of sports drink by athletes.
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North America accounted the highest market share of 35.2% in 2016, and the region is expected to maintain its dominance from 2016 to 2024. The growth is attributed to growing investment in fitness in the region and rise in demand of protein-based sports products.
The major players functioning in the sports nutrition market are The Coca-Cola Company, Abbott Nutrition Inc., Clif Bar & Company, Yakult Honsha Co., Ltd., Post Holdings, Inc., Glanbia Plc., GNC Holdings, PepsiCo Inc., Otsuka Pharmaceuticals Co., Ltd., and Reckitt Benckiser Group plc, among others.
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Scope of Sports Nutrition Market
Product Type Segments
- Sports Food
- Sports Drink
- Sports Supplements
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South America
- Middle East
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