05-10-2018 12:26 PM CET - Sports
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Sports Nutrition Market Evaluating Major Trends, Consumer Attitudes and an In-Depth Analysis of Key Market Players

Press release from: Orbis Research

Description:

The market is expected to grow at a CAGR of 7.3% from 2018 to 2023. Given the strong trend towards more active lifestyles, sports nutrition has become increasingly relevant to the mass market.

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Wider reach and availability of the sports nutrition product.
Sports nutritional products were once classified as a niche category, designed particularly for athletes and hardcore full-time sports personnel. The scenario has been altered quite significantly with such products getting popular and being demanded by more diverse consumer group - the regular exercisers and the everyday consumer looking for an extra boost in their workouts.

The Germany retail markets represent one of the fastest growing market for sports nutrition products. Protein supplements in particular owing to the intensified awareness of health and well-being from such products and their easy availability. Germany represents third largest sports nutrition market in value terms followed by U.K. and Eastern Europe combined.

The sports nutrition market of Germany is driven by the widespread penetration that these products have achieved in the past few years. The products that were once available in dedicated fitness products shops, have made their way to convenience in pharmaceutical stores and supermarkets providing opportunity for the players to gain higher margins.

Sports Drink to dominate the market
The sports nutrition landscape in Europe, especially in Western Europe (which includes Germany) have undergone a paradigm shift since 2011. The supplements that were once exclusively available in sports clubs, specialty stores and fitness centers have captured the retail shelves of convenience stores globally. The e-commerce websites and chain stores have also adopted this health and wellness sections in order to capture higher sales from the average consumers and daily exercisers.
Sports drinks posted a sluggish volume performance in 2016 recording a revenue of USD 430 million. In 2015, the sports drinks segment is dominated by the multinationals. The category continued to be appealing for various types of consumers such as athletes and regular gym goers, as they tend to consume food to boost their performance. The essential dietary supplements are specifically manufactured and marketed to those involved in bodybuilding, weightlifting and athletics. The market for sports supplements will record a CAGR of 4.8% during 2018 - 2023.

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Sports nutrition has seen increased availability in various distribution channels, including supermarkets, hypermarkets and drugstores/parapharmacies. Currently, private label accounts for only a minor share of value sales in sports nutrition.

Key Developments
• September 2017: Glanbia Nutritionals showcase two new pea protein offerings, including Crunchie™ Pea Protein Crisps and BevEdge™ Pea Protein, a revolutionary advance in the dispersibility and flavor of pea protein. ProTherma™, has been specifically designed to use in hot ready-to-mix powdered beverages and foods such as malt/hot chocolate drinks, teas, coffees, soups, oatmeals, coffee creamers and coffee pods offering manufacturers the opportunity to create rich, high-protein, ready-to-mix products.
• February 2017: CytoSport, Inc., a leading sports nutrition company and maker of MUSCLE MILK® premium protein products, launched the EVOLVE® brand, the company’s first plant-based and vegan protein line. EVOLVE® products are free of dairy, soy, gluten and artificial flavors, and are made with all non-GMO ingredients.

Major Players: GLANBIA Plc, PEPSICO, HORMEL FOODS CORP., MUSCLEPHARM CORP., POWER BAR, CLIF BAR COMPANY, MULTIPOWER, GERMAN SPORTS NUTRITION, KONZEPT, SQUEEZY SPORTS NUITRITION

Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
• Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
• 3 months analyst support along with the Market Estimate sheet (in excel).

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Customization of the Report
• Value chain analysis
• Consumer behavior analysis in country level

Companies Mentioned:
Glanbia PLC, Pepsico, Hormel Foods Corp., Musclepharm Corp., Power Bar, Clif Bar Company, Multipower, German Sports Nutrition, Konzept, Squeezy Sports Nuitrition

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