Press release
Global Sports Supplements Market: Growing Demand from North America to Drive Market at 9.1% CAGR during 2015-2021
The growing health consciousness among consumers has propelled the growth of the global sports supplements market. Product promotions through fitness shows and the introduction of new products by the market players will further augment the growth of the market in the coming years. However, lack of proper regulations, high costs, and preference for local brands will restrain the overall sports supplements market.
Demand for Protein Products to be Highest in Coming Years
In terms of product type, the global sports supplements market has been broadly classified into protein and non-protein products. Protein products have been further divided into bars, powder, and ready-to-drink. Non-protein products have been sub-segmented into creatine, amino acids, beta-alanine, and L-carnitine. The demand for protein products is the highest and the segment is expected to dominate the overall market in the coming years. Among the protein products, the protein powder sub-segment is anticipated to account for 61.1% of the market by the end of 2015 and register a moderate growth at a CAGR of 9.3% during the period between 2015 and 2021. During the same period, the protein bar sub-segment is anticipated to witness the highest CAGR of 9.9%.
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On the basis of distribution channels, the global sports supplements market has been categorized into super markets, health food stores, pharmacies and drug stores, fitness clubs, and online. By the end of 2015, the health food stores segment is anticipated to hold 32.4% of the market. During the period between 2015 and 2021, the segment is expected to expand at a CAGR of 8.7%. In the near future, the online segment is estimated to register robust growth at a CAGR of 10.1% owing to the increased penetration of e-commerce.
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Key Regions in Global Sports Supplements Market
The global sports supplements market has been segmented into six key regions: Western Europe, Latin America, North America, Asia Pacific, Eastern Europe, and the Middle East and Africa. North America is expected to dominate the overall market in the coming years. The region is projected to expand at a CAGR of 7.6% during the period between 2015 and 2021 and account for 33.5% of the market by the end of 2015. The growing demand for sports supplements across Western Europe is expected to boost the regional market at a CAGR of 10.3% during the period from 2015 to 2021.
Key Players in Global Sports Supplements Market
Some of the key players in the global sports supplements market are MaxiNutrition, NBTY Inc., Glanbia Plc., Universal Nutrition, GNC Holdings Inc., Creative Edge Nutrition Inc., Plethico Pharmaceuticals Limited, Herbalife Ltd., Enervit S.p.A. and Scitec Nutrition.
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