In a recent published report, Kenneth Research has updated the market report for Sports Nutrition Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Sports Nutrition Market products.
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The Global Sports Nutrition Market was valued at USD 2.63 billion in 2016 and is projected to reach USD 6.92 billion by 2025, growing at a CAGR of 11.35% from 2017 to 2025.
A few examples of sports nutrition products are Isotonic drink powder, capsule/tablets, ready-to-drink protein drink, protein bars, supplement powder and many more. These products are consumed by body builders and athletes to improve their overall performance and muscle growth. Sports drinks are mostly consumed by athletes to maintain the water level in their body, and body builders use more of supplements. However these products are being used very often by normal humans in their day to day life.
1. Market Drivers
1.1 Rise in usage of fitness centers.
1.2 Major growth of non-traditional users.
1.3 Piqued interest in personal appearance.
2. Market Restraints
2.1 Availability of cheap products.
The Global Sports Nutrition Market is segmented on thebasis of User, Product Type, Distribution channel and Region.
1. By User:
1.3 Lifestyle Users
1.4 Recreational Users
2. By Product type:
2.1 Iso Drink Powder
2.2 Protein Powder
2.3 Capsule/Tablets (Creatine, BCAA and others)
2.4 RTD Protein Drinks
2.5 Supplement Powder
2.6 Iso& Other Sports Drinks
2.7 Protein Bars
2.8 Carbohydrate Drinks
2.9 Carbohydrate/Energy Bars
2.10 Other Supplements
3. By Distribution Channel:
3.1 Large Retail and Mass Merchandisers
3.2 Drug and Specialty Stores
3.3 Small Retail
3.4 Fitness Institutions
3.5 Online and Others
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Rest of World
The major players in the market are as follows:
1. Otsuka Pharmaceutical Co., Ltd.
2. Clif Bar & Company
3. GNC Holdings
4. Post Holdings, Inc.
5. Yakult Honsha Co., Ltd.
6. Reckitt Benckiser Group Plc.
7. Glanbia Plc.
8. PepsiCo Inc.
9. Abbott Nutrition, Inc.
10. The Coca-Cola Company
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Sports Nutrition Marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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