27 Jun, 2015
Wellesley, Mass. (PRWEB), June 25, 2015 – Rapidly growing economies in China and India have significantly increased demand for sports foods in the past 10 years. BCC Research predicts in its new report that these emerging markets will approach and even surpass double-digit growth rates from 2015 to 2020.
The global market for sports nutrition and high energy supplements totaled $37.5 billion in 2014. This market is projected to approach $40.8 billion in 2015 and nearly $66.0 billion by 2020, registering a compound annual growth rate (CAGR) of 10.1% through 2020.
The global market for sports and energy drinks should total nearly $28.6 billion in 2015 and nearly $46.8 billion by 2020, with a CAGR of 10.3% for the period 2015-2020. High-energy supplements, the second-largest and fastest-growing segment should reach nearly $6.8 billion in 2015 and $11.2 billion by 2020, with a CAGR of 10.7% between 2015 and 2020.
The sports nutrition and supplements market comprises three segments: sports foods, sports drinks and sports supplements. Increasing health awareness among people is driving the market for sports nutrition and supplements. Sports supplements and food also are viewed as dietary supplements by most consumers. Urbanization and the rising number of fitness centers and health clubs are some of the key drivers for the sports nutrition and supplements market.
In countries such as India and China, their large populations and developing economies offer huge market potential. In addition, with more start–up and smaller companies in the Asia–Pacific region the production of sports nutrition and supplements is increasing with the establishment of new manufacturing facilities.
“Sports food has entered the Asia–Pacific market in a boom due to the rise in sports food and pharmaceutical companies. There are also chains and referral businesses where individuals opt for sports food at a reasonable cost,” says BCC Research analyst Aneesh Kumar. “The European and Asia-Pacific markets are expected to grow at five-year CAGRs of 9.5% and 11.0%, respectively, from 2015 through 2020.”
Sports Nutrition and High Energy Supplements: The Global Market (FOD043B) discusses the major players in each of the regional markets and explains the major global drivers, the current trends, major challenges, and the regional dynamics of the market. The report concludes with a special focus on the supplier landscape. It includes detailed profiles of the major vendors in the sports nutrition and supplements industry globally, and discusses the market share of the major players by region.