Europe Sports Nutrition Market - What Are The Main Factors That Contributing Towards Industry Growth?
Rise in obesity, increase in the number of health centers & fitness clubs, pervasiveness of sports culture, and increase in the number of nontraditional users foster the growth of the market. Rise in trend of online retail and growing demand for herbal and natural products are expected to offer lucrative opportunities for the market growth. However, availability of cheap counterfeit products and food safety issues hamper the development of the market.
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The region was characterized with higher demand from Western European countries such as the UK, France, Germany, and others. In addition, Eastern European countries are expected to witness healthy growth over the next 4-5 years, owing to the increase in health awareness and rise in income of middle class customer groups.
Isotonic & other sports drinks accounted for the largest share of the market revenue in 2015. However, protein powder segment is expected to grow at a notable pace owing to the increase in popularity and rise in adoption of protein-rich foods. Carbohydrate/energy bars segment is anticipated to grow at the highest CAGR of 10.5% during the forecast period on account of the increase in demand for healthy and lifestyle foods.
Athletes constituted the largest end users of sports nutrition products in Europe, accounting for over 30% of the total market revenue in 2015 on account of greater adoption of Iso sports drinks and other products among these traditional users. However, lifestyle users are anticipated to grow at the highest CAGR of 8.2%, owing to the increase in health awareness.
The market is classified by distribution channel into large retail & mass merchandisers, small retail, drug & specialty stores, fitness institutions, and online & others. In 2015, Large retail & mass merchandisers accounted for the largest market share of over 28%, owing to the mass adoption of such products through this distribution channel. With online purchase of these products gaining momentum, the channel is expected to increase its penetration in total sales, primarily on account of the increase in smartphone & tablet sales and the extensive availability of these products on various online platforms.
The report provides a detailed analysis of the key European countries, which include the UK, Germany, France, Italy, Spain, and rest of Europe.
UK accounted for the largest market share of over 25% in 2015 and is expected to maintain its dominance throughout the forecast period. This is ascribed to the higher adoption of Iso & other sports drinks and protein powders among recreational and lifestyle users in the country. The region has seen a significant rise in demand for sports nutrition products, which has led to expansion of the customer base. In addition, products such as meal replacement, protein supplements and RTD drinks are gaining popularity, particularly among women consumers, on account of the growing inclination towards achieving a fitter and toned body. Over the past few years, there has been an upsurge in the number of fitness clubs and their memberships. As per the industry sources, in 2014, 1 in every 8 persons in UK was a fitness club member, thereby fueling the demand for sports nutrition products. Companies such as, Myprotein, have launched protein-enriched packaged food, such as hot chocolate and mocha hot drink protein powder in the country, to cater to the growing demand from consumers.
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Growing adoption of health and fitness trend among the German consumers has led to increase in demand for sports nutrition products. Germany is one among the 10 obese countries, where more than 50% of the population is obese. Obesity has become a matter of concern in Germany, as there has been a surge in the number of weight-related surgeries such as gastric bypass and liposuction to prevent the effects of excess weight on health. Adoption of high-end meal replacement options including sports supplements and food, as a substitute for regular meals, has increased at a rapid pace in the past few years.
Leading players profiled in the report include Glanbia PLC, The Coca-Cola Company, Atlantic Multipower Germany GmbH and Co. OHG (Atlantic Grupa D.D.), Maxinutrition Ltd. (GlaxoSmithKline PLC), Olimp Laboratories Sp. Zoo, Nutrend D.S.,a.s., Ultimate Nutrition Inc., PowerBar Europe GmbH, Science in Sports Plc., and PacificHealth Laboratories Inc.
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