The global sports nutrition market is, in a word, massive. And it’s only going to continue to grow.
Different research firms will give you different dollar figures, but the consensus is the market is huge and only getting bigger. Grand View Research predicted the global sports nutrition market will reach US$24.43 billion by 2025, growing at a compound annual growth rate (CAGR) of 9.7 percent. Market Research Future is even more bullish, predicting the global market to reach $39 billion by 2020; Zion Market Research predictions go even further, estimating the market will reach $45.27 billion by 2022.
Not long ago, this market consisted mainly of two things: electrolyte-filled sports drinks and ready-to-mix protein powders. And while these products still make up the largest parts of the sports nutrition market—Euromonitor International expects those two subgroups to account for more than $7 billion each in 2020—they are hardly alone in today’s sports nutrition market. Supplements, bars, sweet and savory snacks, spreads, baking mixes and more now inundate the sports nutrition market as consumers seek new and innovative ways to obtain the benefits they seek.
With an ever-growing consumer base, the key for brands who wish to take advantage is to be sure they have a product for everyone.
Brands like Kodiak, IDF, Natural Force and others all understand this changing landscape. As the sports nutrition market continues to expand from athletes and body builders to the population at large, supplementation should continue to take new forms.
As Grand View researchers put it, “[A] growing consumer base…[and] widening base of health-conscious population are anticipated to foster the growth of the market over the coming years.”
Read The Full Article HERE