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Global Sports Food Market Expected to Witness 9.2% CAGR During 2016 – 2022

08-14-2018 06:53 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: P&S Market Research

Global Sports Food Market Expected to Witness 9.2% CAGR During

The global sports food market is expected to grow at a CAGR of 9.2% in terms of value during 2016 - 2022. Among the various types, the energy bars segment accounted for the largest share (71.5%) in the global sports food market in 2015.

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The manufacturers are trying to bring about products with the best blend of taste and healthy ingredients. They have started to concentrate on the sugar content in their product offering. The demand for bars with organic ingredient has grown significantly, especially in the developed countries. With the increasing instances of celiac disease, the sports food manufacturers are choosing ingredients such as sunflower seeds, quinoa, brown rice flour, pea and rice protein, tapioca syrup, cacao nibs and organic agave, in order to match the consumer needs.

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The overall food bar category is led by snack and cereal bars, and sports bars including energy bars and protein bars that have lesser share. However, the current trend in most of the developed countries highlights consumers switching from cereal and snack bars to energy and protein bars, owing to health benefits imparted by them.

The developed countries such as the U.S. and countries in Europe, still remain major markets for sports food products; however the emerging economies in Asia-Pacific are expected to be major growth drivers for the market. The low awareness in the developing countries, as compared to the western markets is the key reason for less market share of eastern countries, in the global sports food market. Moreover, the low disposable income of consumers and use of products limited only to athletes and bodybuilders have also been hindering the growth of the global sports food market earlier.

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The major companies operating in the global sports food market include Nestle S.A., Clif Bar & Company, Glanbia Plc, Abbott Laboratories, PepsiCo Inc., GNC Holdings Inc., The Coca Cola Company, Universal Food, GlaxoSmithKline Plc, and MusclePharm Corporation.

About P&S Intelligence
P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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