The world market for sports and fitness nutrition products (including foods & drinks) is moving from a niche segment to a mainstream market. The global market for Sports and Fitness Nutrition Foods and Drinks is projected to reach US $60.8 billion by 2020. The customer base that began with high endurance athletes has turned into a large scale healthy lifestyle movement – gripping everyone from bored teenagers to business people stepping up their sedentary lifestyles to boomers struggling to keep their mojo working. This divergence in customer profile and its usage of nutritional food and drinks highlights the need for marketers to adopt tailor-made strategies for targeting such varied groups of consumers to gain even greater penetration in the market.
Going forward, expect the market for sports and fitness nutrition foods and drinks to exercise continued growth. As attitudes towards exercise change, the definition of sports and fitness nutrition products has started changing as well. While the newer customers, including amateur, recreational and casual athletes, gym-goers and weekend fitness enthusiasts use such products to increase stamina and enhance physical and mental performance or as a preventive measure against illness, the traditional group uses the products to gain targeted benefits such as muscle enhancement or for post-workout recovery.
All of this is laid out in a new research report titled “Sports and Fitness Nutrition Foods and Drinks: A Global Strategic Business Report” announced by Global Industry Analysts, Inc. The report provides market estimates and projections for product segments including Sports/Energy Foods; and Sports/Energy Drinks. Geographic markets analyzed include the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain and Rest of Europe), Asia Pacific, Latin America and Rest of World.
The sports nutrition market witnessed exponential growth over the years due to new innovations, novel packaging and marked changes in consumer preferences. Sports supplements and sports nutrition functional foods are among the leading categories exhibiting strong growth. Latin America represents the fastest growing regional market displaying a CAGR of about 8.5% over the analysis period. Despite accounting for a small portion of the world’s food and beverage market, Latin America is expected to emerge as the hotspot in the coming years. The market for sports and energy drinks in Latin America is expected to surge in the near future primarily due to rising income levels, increased focus on health and wellness and willingness of consumers to spend on the category. For more details about this comprehensive market research report, click here
