Long popular among bodybuilders, athletes and weekend warriors, the sports nutrition sector is gaining a loyal following of active consumers embracing a healthier lifestyle and seeking out supplements, foods and beverages formulated with proven ingredients that deliver results.
The global sports nutrition market is projected to grow from US$28 billion in 2015 to more than US$50 billion in 2022, according to a May 2016 report from P&S Market Research, which predicts robust sector growth representing a 8.4 percent compounded annual growth rate (CAGR) from 2015 to 2022.
Global sports nutrition market activity is being driven by greater health-consciousness among the population, increasing urbanization, new product development and growth in the number of retail outlets, gyms and health clubs. Market leaders in the global sports nutrition sector include Glanbia, PepsiCo, Abbott Nutrition, Nestlé S.A., GNC Holdings, The Coca Cola Co., GlaxoSmithKline, Clif Bar & Co., Universal Nutrition, Creative Edge Nutrition, Monster Beverage, Reckitt Benckiser Group, Yakult Honsha Co. Ltd., and MaxiNutrition Ltd.
According to Euromonitor International’s “Sports Nutrition in the US" report released in September 2016, the United States is the largest market for sports nutrition in the world, posting a current value growth of 12 percent in 2016, with much of its growth driven by the continued expansion of the sports nutrition demographic base, i.e., casual users who are becoming more aware of the health benefits of protein and the importance of active lifestyles.
Speaking at the “Capitalizing on the Future of Energy Drinks, Shots and Supplements Workshop" at the 2016 SupplySide West show, Natural Marketing Institute’s (NMI) Managing Partner Steve French said the desire for energy continues to dominate consumers’ yearning for a healthy lifestyle, and concerns about lack of energy are growing—impacting more than 175 million U.S. adults. What’s more, concern over lack of energy is not just an issue in the States; consumers across the globe are concerned about dealing with low energy levels.
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