Global Sports Supplements Protein Powder witness highest share in product segment by 2020
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Sports supplements are distributed and sold through health food
stores, supermarkets, fitness clubs, and pharmacies. This expanding sales
network has given consumers easy and convenient access to sports supplements.
Most of the times, health clubs and fitness centers act as the main source for
sports supplements for consumer groups like recreational users, bodybuilders,
and athletes.
As new product segments continue to emerge, sports supplements are
no longer just for men. Many college students, teenagers, women, and older
individuals also consume supplements to stay more active and healthier. Protein
powder is the leading segment in the market. However, as of 2015, growth in the
bars and ready-to-drink beverages product segment is expected to exceed that of
the protein powder segment.
To
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The rising number of health clubs, fitness centers and
urbanization are the main key drivers for the sports supplements market. The
global sports supplements market also relies heavily on online sales channels.
In recent years, websites such as Vitacost.com and Amazon.com have added more
supplements and ancillary product offerings.
In the U.S., the total number of online shoppers is expected to
reach US$215.1 million by 2018, from a value of US$191.1 million seen in 2010.
Due to busy life schedules, consumers are increasingly shifting their
purchasing pattern towards online shopping. This will boost the online sales of
sports supplements and other sports nutritional products by 2020.
According to the United Nations Department of Economic and Social
Affairs (UNDESA), Asia Pacific is expected to provide abundant growth
opportunities to various market players such as MaxiNutrition, Creative Edge
Nutrition, Inc., and GNC Holdings, Inc in the global sports supplements market.
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Analysis:
In the past few years, the global sports supplements market has
experienced many changes due to emerging regional markets vying for a share of
the global revenues. Certain changes in the regulations and mandates regarding
the nutrition products were also seen in markets such as North America, Asia
Pacific, Europe, and RoW (Rest of the World).
As things stand today, all the current regulations and mandates
remain disparate in various regions of the world. Such factors have created
many new business practices, ingredients, and a variety of sports nutritional
and supplements’ products within the global sports supplements market. The
global sports supplements market is now growing at a steady rate. This growth
is expected to continue until 2020.
Sports supplements are mainly consumed by athletes and
bodybuilders to improve their athletic performance. These are considered as
dietary supplements and are often consumed in the form of powders, capsules,
gel caps, pills, tablets, and granules.
Today, consumers are more aware about the new and improved sports
supplements products than they were before. With the rise in disposable income
in major developed countries, especially in North America, the willingness
among athletes and bodybuilders to spend more on sports supplements has
increased.
The sports supplements market is rapidly expanding and growing
from its major markets in the U.S. towards the other developing regions of Asia
Pacific and Europe. Countries such as India, China, Brazil, and Argentina are
also growing in terms of improved products and rising number of fitness
centers.
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