The Global Market for Sports & Fitness Nutrition Supplements is Projected to Reach US$8.8 Billion by 2020
Growing Emphasis on Health Maintenance Drives Demand
for Sports & Fitness Nutrition Supplements, According to a New Report by Global Industry Analysts, Inc.
GIA announces
the release of a comprehensive global report on Sports and Fitness Nutrition
Supplements. The
global market for Sports & Fitness Nutrition Supplements is projected to
reach US$8.8 billion by 2020, driven by the growing emphasis on health
maintenance, and rising consumption of dietary supplements.
The global market
for fitness nutrition supplements is witnessing growth supported by a large affluent
base of aging baby boomers, increased involvement in various sports and fitness
activities and growing consumer propensity to spend on nutrition supplements.
The trend towards preventive healthcare is helping spur consumption of sports and
fitness nutrition supplements among the high-risk population, such as the
elderly. Preventive intake of dietary supplements at recommended levels has
been shown to reduce the occurrence of diseases such as coronary heart
diseases, diabetes, hypertension, age related eye diseases, and osteoporosis,
among others. In the coming years, demand is expected to grow strongly for nutrition
supplements that offer health, therapeutic, disease fighting, and healing benefits,
in addition to providing energy, and stamina.
Focus on
leading active lifestyles is resulting in increased participation in sports and
fitness activities, thus benefiting consumption of sports and fitness nutrition
products. Growing participation in aerobics, cycling, swimming, badminton, and
increased enrollment in gyms and sports clubs, are factors spurring growth in
the market. The retail scenario is also changing with sports and fitness
nutrition products now being made available in mainstream mass market
outlets such as supermarkets and convenience stores. Though, majority of sales are through retail stores,
the Internet is rapidly emerging as a lucrative channel for distribution and
sales. Women form the major consumer group for dietary supplements, given
their higher genetic predisposition to certain diseases.
Product
innovation represents an important trend, with manufacturers focusing on the
development of novel formulations with natural ingredients. Sales of premium
brands and products are receiving a major boost, encouraged by the growing
consumer preference for natural and herbal supplements. Supplements featuring
potent herbs and spices, specifically those used in Chinese traditional medicine
and Ayurveda, are poised to witness strong growth over the short-to-medium term
period.
As stated by
the new market research report on Sports and Fitness Nutrition Supplements, the
United States represents the largest market worldwide. Growth in the country is
supported by aging baby boomers, increase in gym and health club memberships, and
wide availability and easy access to sports and fitness nutrition products at
fitness clubs, pharmacies, health food stores, and supermarkets. Asia-Pacific ranks
as the fastest growing market with a CAGR of about 12.5% over the analysis
period. Growth in the region is led by government focus on the development of
infrastructure for nutrient supplementation among the growing population and
increased healthcare spending by the expanding base of affluent middle class
population.
Major players covered
in the report include Abbott Laboratories Inc., Champion Nutrition Inc., Clif
Bar & Company, The Coca-Cola Co., Dymatize Enterprises Inc., Glanbia Plc.,
Optimum Nutrition Inc., GlaxoSmithKline Plc, GNC Holdings Inc., Herbalife
International Inc., NBTY Inc., The Balance Bar Company, Nestlé SA, Otsuka
Pharmaceutical Co. Ltd., PepsiCo Inc., Red Bull GmbH, and Yakult Honsha Co.
Ltd., among others.
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