(Food-Beverage-News.Com, June 08, 2018 ) Global sports food market was valued at US $ XX Mn in 2017 and expected to grow at 7.0% Compound Annual Growth Rate (CAGR) over 2018 to 2024
Market Outline: Sports Food Market Sports food are the specially formulated foods which help to achieve precise nutritional values required by the athletes body. They are intended to supplement the diet of the sports people. The sports food includes sports drinks and sports food. Sports food comprises of energy bars, nutritional powders, and protein bars.
Market Dynamics: Sports Food Market Soaring health consciousness among the people is the key factor anticipated to drive the growth of sports food market. The rapid urbanization along with unhealthy lifestyle and rising health concerns such as obesity is driving towards the switch to nutrition-rich food supplements which is expected to influence the growth of the sports food market. The burgeoning fitness centers and health clubs are enhancing the growth of the market. However, the stringent government regulations for the approval of the new products are hampering the growth of the market.
Market Scope: Sports Food Market Sports food market is segmented based on the product type, form, end-users and distribution channel Based on the product type, the market is segmented into the following: Capsule/Tablets Protein Powder Carbohydrate Drinks Carbohydrate/Energy Bars Protein Bars Others
Based on the form, the market is segmented into the following: Solid Liquid Others
Based on the end-users, the market is segmented into the following: Athletes Recreational Users Others
Based on the distribution channel, the market is segmented into the following: Fitness Institutions Drug Stores Online Stores Others
Regional Analysis: Sports Food Market Geographically, global sports food market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America sports food market is the largest market when compared with that of the other regional market. The United States contributes the largest share in the sports food owing to the burgeoning gymnasiums and fitness centers. The Europe sports food market is expected to grow exponentially which is primarily led by the U.K. Asia Pacific is predicted to outpace the global sports food market over the forecast period due to its growing economy. Japan holds the major share in the Asia-Pacific sports food market. China trails Japan followed by Australia which accounts for the higher prevalence of obesity, which is likely to add fuel for the growth of the sports food market.
Competition Assessment: Sports Food Market Some of the players in the global sports food market include: MusclePharm (U.S) Reckitt Benckiser Group Plc (U.K) Glanbia Plc (U.K) Nestle SA (Switzerland) Danone S.A (France) Clif Bar & Company (U.S) The Hain Celestial Group, Inc. (U.S)
Notable Market Developments: Sports Food Market In March 2017, MusclePharm has launched organic alternative in sports nutrition space.
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