Global Sports Nutrition Market is Estimated to Reach $66 Billion by 2024, Says Accurize Market Research
Global Sports Nutrition Market report published by Accurize Market Research forecast that the global market is expected to reach $66 billion by 2024; growing at a CAGR of 7.7% from 2016 to 2024. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Demand from fitness centers & health clubs to drive the global market
The factors driving the growth of the global sports nutritionmarket aregrowth in number of fitness centers &health clubs,rising personal appearance concerns, andrapid urbanization.However,food safety concernmay act as a restraint for the growth of the market. Moreover, rapidly growing distribution channels and high demand in emergent countrieswould provide several growth opportunities for the market in the future years.
Product type and geography are the major segments considered in the globalsports nutritionmarket. By product type, the market is bifurcated intosports food, sports drink, and sports supplements.
North America, Europe, Asia-Pacific and rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S., Canada and Mexico. Europe covers countries like Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific countries include China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Africa and Middle East.
“Sports drink accounted for the largest market share in the product type segment", says Accurize
Sports drink accounted for the largest market share in 2017, in the product type segment. It is expected to continue its dominance during the forecast period 2017 – 2025,owing to its high demand coupled with consumption primarily by athletes to refill the water level in the body.
"North America dominated the global market with the highest market share over the forecast period", says Accurize
North America dominated the global sports nutrition market with largest market share of 35.2% in 2017, and expected to continue its dominance during the forecasted period, owing to high demand of protein-based sports products coupled with rising investment in fitnessin countries such as the U.S. and Canada.
Top players in the market
Major companies operating in the market include Yakult Honsha Co., Ltd., Glanbia Plc., Abbott Nutrition Inc., The Coca-Cola Company, PepsiCo Inc., GNC Holdings, Clif Bar & Company, Reckitt Benckiser Group plc, Post Holdings, Inc., and Otsuka Pharmaceuticals Co., Ltd., among others.
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