New York, March 07, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Sports Nutrition Market Size, Share & Trends Analysis Report By Product, By Distribution Channel, By Region And Segment Forecasts, 2020 – 2027” – https://www.reportlinker.com/p05741317/?utm_source=GNW
The global sports nutrition market size is expected to reach USD 31.0 billion by 2027, registering a CAGR of 8.9% over the forecast period. Increasing importance of an active lifestyle owing to rise in sedentary jobs and shift in demographic base from core athletes to recreational athletes and lifestyle users are the key factors expected to drive the market. Moreover, increasing number of health and fitness centers and gyms, rising consumer awareness regarding the adoption of a healthy lifestyle, and demand for these products from athletes is expected to boost the market growth.
Widespread product availability due to the presence of large companies is expected to drive the demand for these products. For instance, in 2018, Amazon launched its private label sports supplement brand “OWN PWR” for U.S. consumers. Companies such as Glanbia Plc; Abbott Laboratories Inc.; Neutra Science Labs; Hormel Foods Corporation; and GNC Corporation are the key players operating in the market. Moreover, favorable government initiatives to promote health, growing base of health-conscious population, and rising awareness about sedentary health risks further drive the market.
Moreover, the U.S. population is becoming increasingly health-conscious and hence focuses on adopting an active lifestyle. The International Health, Racquet & Sportsclub Association (IHRSA), a Boston-based, commercial health clubs trade association, reported a 3.6% rise in the number of health club members, from 55.3 million in 2015 to 57.3 million in 2016. The number of health clubs in U.S. increased by 5.2%, from 36,540 in 2016 to 38,447 in 2017. These health clubs and fitness centers have consulting dietitians, which influences the consumption of sports nutrition products among trainers and fitness enthusiasts.
Further key findings from the report suggest:
• Sports supplements emerged as the largest product segment in 2019 with a share of over 80.0% of the global sports nutrition market owing to increasing commercialization of these supplements and wide product range including creatine and whey protein supplements
• On the basis of distribution channel, bricks and mortar dominated the market in 2019 owing to high consumer base for retail stores
• Ecommerce is projected to be the fastest-growing segment over the forecast period owing to increasing popularity of ecommerce platforms and the associated benefits such as discounts and convenience
• North America dominated the global market in 2019 due to growing awareness about nutritional supplements and rise in government initiatives promoting sports-related activities
• Key players operating in the market include Glanbia plc; Hormel Foods Corporation; General Nutrition Centers, Inc.;Abbott; The Coca-Cola Company; and Clif Bar & Company.
Read the full report: https://www.reportlinker.com/p05741317/?utm_source=GNW
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