September 17, 2008
Wellesley, Mass—According to a new technical market research report, SPORTS NUTRITION AND HIGH ENERGY SUPPLEMENTS: THE GLOBAL MARKET (FOD043A) from BCC Research the global market for sports nutrition was worth $27.2 billion in 2007. This is expected to increase to $31.2 billion in 2008 and reach $91.8 billion in 2013, a compound annual growth rate (CAGR) of 24.1%.
The market is broken down into sports beverages, sports food and sports supplements. The largest and fastest growing segment is sports beverages. This segment generated revenues of $24.9 billion in 2007 and an estimated $27.8 billion in 2008. This is expected to increase to $87.0 billion in 2013, for a CAGR of 25.6%. This segment is further sub-categorized into energy drinks and sports drinks. The energy drink segment is the one driving growth for the segment and the industry while the sports drinks are at a mature stage.
The sports food segment was worth $1.2 billion in 2007 and will reach an estimated $1.5 billion in 2008. This should increase to $2.5 billion in 2013, for a CAGR of 10.0%.
The sports supplements segment was worth $1.1 billion in 2007 and will reach an estimated $1.9 billion in 2008. This should reach $2.3 billion in 2013, a CAGR of 4.0%.
The global sports nutrition industry emerged from the shadows of the mainstream food industry, to create its own identity in the late 1980s. The sports nutrition market has changed in recent years from being a niche segment of specialist sports products to supplying mass-market demand, which is the biggest contributor to the industry’s growth.
In terms of market sizes, the United States is the largest consumer of sports nutrition products. This is followed by Western Europe and Japan. The developing markets are Asia and Latin America. The key market drivers for the industry are taste, price, variety and brand trust. Now that the demand for sports nutrition products is coming from mainstream consumers, convenience and taste are being looked upon as the biggest growth drivers.
Sports Nutrition and High Energy Supplements: The Global Market ( FOD043A )
Publish Date: Sep 2008
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