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Global Sports Food Market Expected to Witness 9.2% CAGR During 2016 – 2022
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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.
One of the key reasons for the increasing demand of sports and nutrition bars is the product repositioning of such products by their manufacturers. The increasing consumer awareness and athletic spirit in them is another reason for the growth of the sports bars market.
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Earlier, sports foods were mostly consumed by the athletes and body builders. However, now-a-days, the non-athlete consumer group, especially the younger demographic profile people are also consuming them, owing to healthy profile of sports foods, as compared to the snack bars or chocolates consumed 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.
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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.
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