The global sports food market is expected to record an impressive growth in the years to come. The market is gaining traction at present too due to increase in the number of fitness centers and sports and health clubs across the globe, particularly in developed regions. The popularity of several games and sports in increasing among global population, especially among youngsters. With this tremendous growth in the sports activities, the awareness about the nutritional food is also increasing which is likely to fuel the demand and growth of the global market for sports food in upcoming years. “Sports Food Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2022,” is the new report that has been added in the database of Market Research Reports Search Engine (MRRSE). According to this report, the global sports food market is expected to be valued at US$ 63.70 Bn in 2017, while in 2022 the market is likely to jump to US$ 88.76 Bn, expanding at a robust CAGR of 6.90 %.
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Global Sports Food Market- Drivers
The report has listed some of the factors which are fuelling the growth of the global sports food market. These drivers are as bellows
- Rising popularity of games and various types of sports, particularly among youngsters
- Rising per capita income and growing urbanization
- Increasing number of sports and health clubs, especially in developed regions
- Increasing health conscious population
- Increasing awareness among people about nutritional food
Global Sports Food Market- Segmental Analysis and Forecast
The market is broadly segmented into distribution channel, gender and product. On the basis of product type, this market is segmented into rehydration sports food, energy sports food, mean replacement sports food, pre-workout sports food and other miscellaneous sports food. Energy and protein-based sports food is largely demanded across the globe.
Consumer’s gender segment is consists of females and males segments. At present, the segment of males is leading is the global sports food market and this trend is expected to remain the same in the years to come.
Online stores, supermarkets and hypermarkets, convenience stores, and drug stores are some of the important segments of the distribution channel. Better response and consumer base are two factors which are supported the traditional distribution channel segment, such as drug store, hyper and supermarkets and convenience stores. Nevertheless, increasing number of smartphone users, e-commerce, online websites and growing internet penetration are likely to shape the future of online channel segment.
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Global Sports Food Market- Regional Forecast and Analysis
North America is dominating the market presently and it will show its dominance in the years to come. In 2017, the region is likely to be valued US$ 25.35 Bn in 2017 and in 2027, it is expected to touch the value of US$ 36.73 Bn in 2022. Growing number of sports buffs is one of the major reasons behind this tremendous growth.
Global Sports Food Market- Key Companies
Following are the key companies that are operational in the market-
Glanbia Plc , GlaxoSmithKline Plc, General Mills, Red Bull GmbH, Monster Beverage Corp., Abbott Laboratories, Dr Pepper Snapple Group Inc., The Coca-Cola Co., GNC Holdings Inc., Nestlé S.A., and.
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