A new report published by Allied Market Research has found that the global sports nutrition market would garner revenue of $33.6 billion by 2020, with North America occupying the largest share of approximately 47 per cent.
In the five year period between 2015 -2020, sports nutrition products are expected to be quickly adopted as levels in income and indulgence in sports and fitness activities increase.
Accounting for the largest share of the overall shares value, sports drinks are set to be the leading contributor over the forecast period, with Gatorade (a brand of PepsiCo) and Powerade (a brand of Coca-Cola) the leading two sport drink products.
In developing healthier products, PepsiCo have modified their existing food products to reduce their fat, salt and sugar contents and is also working towards further development of new products to expand its market presence.
Athletes, bodybuilders, recreational users and lifestyle users are the end customers of sports nutrition products. Athletes account for nearly 37% of the global sales of sports nutrition products, trailed by recreational users accounting to nearly 27 per cent of the global sales.
The sports supplement category is witnessing a significant growth in demand and would continue to gain popularity due to an increase in the number of health clubs and fitness centres worldwide.
Despite this, convenience stores are the major distribution channels for the small retail format whilst sport supplements are predominantly sold through fitness centers and pharmaceutical stores.
Asia-Pacific is currently the fastest growing market for sports nutrition products, as demands in the region are supplemented by rapid urbanisation and increasing per-capita income. Asia-Pacific is projected to account for a market share of nearly 24 per cent by 2020.