SAN FRANCISCO, June 1, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled «Sports Nutrition Foods and Drinks – Global Market Trajectory & Analytics». The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 20; Released: January 2021
Executive Engagements: 14269
Companies: 341– Players covered include Abbott Nutrition; Ajinomoto Company; Clif Bar & Company; Coca-Cola Co.; Monster Beverage Corporation; CytoSport, Inc.; Dr Pepper Snapple Group, Inc.; Glanbia Plc; Glanbia Nutritionals Limited; Optimum Nutrition Inc.; GlaxoSmithKline Plc; GNC Holdings, Inc.; Lucozade Ribena Suntory Ltd.; Meiji Co., Ltd.; MusclePharm; Nature’s Bounty, Inc.; Nestle SA; Otsuka Pharmaceutical Co., Ltd.; PepsiCo Inc.; The Quaker Oats Company, Inc.; Post Holdings, Inc.; Red Bull GmbH; Rockstar Inc.; The Balance Bar Company; Twinlab Consolidated Holdings, Inc.; Vitaco Health Ltd.; Weider Global Nutrition, LLC; Yakult Honsha Co., Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Product Segment (Sports Nutrition, Sports/Energy Foods, Sports/Energy Drinks); Distribution Channel (Offline, Online); End-Use (Athletes, Bodybuilders, Lifestyle Users, Recreational Users)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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Global Sports Nutrition Foods and Drinks Market to Reach $115.2 Billion by 2026
The concept of sports nutrition revolves around the consumption of specific nutrients including minerals, vitamins, supplements and certain organic compounds comprising proteins, fats and carbohydrates. Growth in the market will be driven by increasing demand for nutrition bars, ready-to-drink products and energy bars; and growing prominence of protein as the most ubiquitous and important ingredient. Proteins are expected to gain popularity as an effective source of a balanced and nutritional diet due to their functional benefits such as superior nutritional value, support to the immune system and weight management. Additional growth drivers include exponential growth of health clubs, fitness centers, and recreational outfits; immense potential of non-protein products; increasing use of sports beverages as refreshment drinks; emergence of Internet, particularly social media, as the new marketing platform; steady launch of products with natural ingredients that offer long lasting and sustainable energy benefits; and ever changing flavor trends. The COVID-19 pandemic resulted in a dramatic surge in sport nutrition product sales initially, as stringent measures to curb spread of the virus prompted consumers to stockpile products. The spike in uptake of protein bars and associated products during the pandemic has prompted various providers to launch plant-based sports snacks. The market is slated to gain from reopening of gyms and fitness centers following easing of COVID-19-related rules and guidelines.
Amid the COVID-19 crisis, the global market for Sports Nutrition Foods and Drinks estimated at US$79.8 Billion in the year 2020, is projected to reach a revised size of US$115.2 Billion by 2026, growing at a CAGR of 6.2% over the analysis period. Sports Nutrition, one of the segments analyzed in the report, is projected to record a 5.1% CAGR and reach US$25.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Sports/Energy Foods segment is readjusted to a revised 7.1% CAGR for the next 7-year period. Sports nutrition products were traditionally developed and consumed by bodybuilders and athletes to enhance their performance and stimulate muscle growth. In recent years, sports nutrition products have started finding mass adoption among recreational and lifestyle users. The trend reflects a notable expansion of consumer demographic in the market.
The U.S. Market is Estimated at $38.9 Billion in 2021, While China is Forecast to Reach $14.4 Billion by 2026
The Sports Nutrition Foods and Drinks market in the U.S. is estimated at US$38.9 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$14.4 Billion by the year 2026 trailing a CAGR of 8.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.9% and 5.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.8% CAGR. High levels of health consciousness, widespread and easy access to products, aging baby boomers and desire to lead physically active lifestyles, and need to combat growing prevalence of obesity represent key growth drivers in the US market. Developing countries across Asia-Pacific and Latin America provide tremendous growth opportunities. The notable expansion is attributed to ongoing transformation in economy, lifestyle and spending patterns across Asian countries due to strong growth rates, rising disposable incomes, and improving living standards. Moreover, increasing health awareness and indulgence of people in fitness and outdoor sports activities is likely to boost demand for sports nutrition products across the region.
Sports/Energy Drinks Segment to Reach $85.9 Billion by 2026
Sports drinks today are slowly foraying into the larger beverage market and are now becoming a part of the mainstream market. A fitness-crazy generation and the good-health image of sports drinks are driving growth in sports/energy drinks segments. Additionally, sports beverages are increasingly being used as refreshment drinks, which are further fueling demand for these products in the marketplace. In the global Sports/Energy Drinks segment, USA, Canada, Japan, China and Europe will drive the 6.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$48.5 Billion in the year 2020 will reach a projected size of US$74.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$8 Billion by the year 2026, while Latin America will expand at a 7.9% CAGR through the analysis period. More
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SOURCE Global Industry Analysts, Inc.