The global market for sports nutrition products increased from $27.8 billion in 2007 to an estimated $31.2 billion in 2008. It should reach $91.8 billion by 2013, a compound annual growth rate (CAGR) of 24.1%.
Sports beverages have the largest share of the market and were worth $24.9 billion in 2007. This is expected to increase to $27.8 billion in 2008 and $87.0 billion in 2013, for a CAGR of 25.6%.
Sports food currently represents the second-largest market segment, generating $1.8 billion in 2007 and an estimated $1.5 billion in 2008. This should reach $2.5 billion in 2013, a CAGR of 10.8%.
STUDY GOALS AND OBJECTIVES
BCC’s goal in conducting this study was to understand the current status of the global sports nutrition industry and to assess it in the medium-term from 2008 through 2013. We were particularly interested in understanding the future market potential for the industry.
REASONS FOR DOING THIS STUDY
Increased consumer awareness and lifestyle changes have been the driving force in the sports nutrition industry. Once focused on athletes, this market now attracts consumers from all walks of life. With an explosion of companies and brands in the market, players are focusing on retaining existing consumers as much as acquiring new ones. With new products and improved versions of old products being launched regularly, brands are fighting for both shelf space and consumer attention.
SCOPE OF REPORT
This report is a detailed review of the global sports nutrition and high-energy supplement market. It examines product categories, key drivers, and emerging trends, major players in each of the categories, newly emerging product formulations in terms of innovative wellness ingredients and information on new product development.
The report will also analyze companies and regions, which are likely to become the key players in wellness food and drinks and what are likely to be the major wellness trends in the next few years will also be discussed.
The report begins by defining sports nutrition and briefly tracing its history, followed by a brief industry overview.
Then, a detailed description of various product segmentation, consumer classifications, and new products gaining importance is presented.
The next chapter discusses market trends in detail, deliberating on growth drivers and inhibitors as well as market drivers for the industry as a whole.
The report then discusses the various markets, from both regional and product perspectives. Regionally, besides the top developed markets, the developing and upcoming potential markets have also been analyzed. In addition, the global market has been analyzed based on product categories. This further includes the history of the category, competitive scenario, advertising and marketing strategies, and current and future trends.
The next part of the report highlights the market forecasts and projections in terms of revenue segment-wise and region-wise.
This is followed by an overview of the regulatory environment, with special focus on the United States, Europe, and Japan, which currently are the three biggest markets for the industry.
The key industry participants are profiled though a more exhaustive list has been put together for reference. The participants are providers of nutrients to the companies as well as those marketing and manufacturing the sports nutrition products. The report contains a brief discussion about recent market developments reported in various publications.
Finally, the new products developed and new brands launched have been discussed.
This study is likely to be of interest to individuals and organizations involved in the sports nutrition and high-energy supplement industry, such as manufacturers and marketers, and even new players who aspire to enter this market. This report is likely to help marketing managers identify market opportunities in terms of new markets and upcoming trends in various product categories. Advertising agencies working with clients in the sports nutrition industry may also be benefitted. Business development executives understand the dynamics of the market and identify possible partnerships.
BCC Research used both primary and secondary research methods in conducting this research study. BCC presents an analysis by the different categories and regions, with revenue splits for the same for 2008. Then, based on our surveys, we analyze the potential of the existing categories and regional markets to forecast revenue projections for 2013.
BCC surveyed almost 23 companies to obtain data for this study. Included were participants and industry observers in the global sports nutrition industry. In addition, data was compiled from various secondary sources such as government, non-government industry stakeholders, nutrition and market publications, and other public research data sources.
ABOUT THE AUTHOR
Rakhee Dhiman is a market analyst based in Johannesburg, South Africa. She holds a bachelor’s degree in journalism and a post-graduate degree in management. She also has worked for a leading Indian fast moving consumer goods (FMCG) company for 5 years as a sales manager as well as a senior brand manager.
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