Sports And Fitness Markets Grow Big: Athletic Apparel To Reach $180.9 Billion And Nutritional Foods And Drinks To Touch $55 Billion By 2018
FARMINGTON, Conn., March 4, 2013 /PRNewswire-iReach/ -- From nutritional drinks and supplements and athletic clothing, consumers spend a lot on sports and fitness. Increasing awareness about health and fitness, westernization of lifestyles and increasing incomes in developing markets are driving markets such as sports and fitness clothing to $180.9 billion by 2018. Related to this market, the global market for sports and fitness nutrition supplements is projected to reach $6.17 billion by 2018. Meanwhile, the global market for sports and fitness nutrition foods and drinks is projected to reach $55 billion by 2018.
Sports and Fitness Nutrition Foods and Drinks
The sports and energy drinks market is no longer considered a niche segment in the beverage industry, with usage confined only to athletes and persons engaged in physical exercises and sports. The scenario has radically changed, with majority demand generated by active lifestyle users, keen on staying fit. Sports/energy drinks account for a massive chunk of the sports nutrition products market and are slowly foraying into the larger beverage market and are now becoming a part of the mainstream cluster.
Sports and energy bars, part of the effervescent Sports and Energy Foods category, represents one of the fastest growing markets, as consumers are turning busier day-by-day and are more impulsive towards their purchases of meals or meal replacements. Bars are mainly used as meal replacement snacks, which can provide quick medium of replenishing energy levels of the body. Ever since energy bars were first invented, efforts have been concentrated to develop products keeping in mind nutritional needs of both athletic and active lifestyle users. PowerBar, a pioneer in the food and energy bars business has played a revolutionary role in the category. Popular distributors of nutrition bars are food stores that garnered a big chunk of the market share. Drugstores are also the fast emerging distribution option in the bar category.
Major players profiled in the report include Abbott Laboratories Inc., Coca-Cola Co., Dr Pepper Snapple Group Inc., GlaxoSmithKline Plc., GNC Holdings Inc., Monster Beverage Corporation, Optimum Nutrition Inc., PepsiCo Inc., The Balance Bar Company, Red Bull GmbH, and Rockstar Inc., among others.
Sports and Fitness Nutrition Supplements
In the past, the terms fitness and exercise were associated only with certain physically active groups such as athletes and body builders and therefore exercise equipment or sports nutrition products were mainly targeted at such people. But with changing times and with growing focus on the aspect of overall well-being among the general population, sports products particularly nutrition supplements also started being targeted at the common man. The new customers groups that are increasingly becoming an area of interest for various sports and fitness nutrition supplement companies include weekend fitness or sports enthusiasts and people who are interested in maintaining their health by using supplement products. With growing interest from such users, sports nutrition products, which were previously available only in gyms and health food stores, are now available in mainstream mass market outlets such as super markets and convenience stores. Further, to effectively leverage such new market opportunities, products are being revamped in terms of taste, packaging and delivery formats and are being positioned in unique ways to suit the needs of such emerging customers.
Major players profiled in the report include Abbott Laboratories Inc., Clif Bar & Company, The Coca-Cola Co., GlaxoSmithKline Plc, GNC Holdings Inc., Nestlé SA, Optimum Nutrition Inc., PepsiCo Inc., Red Bull GmbH, and Yakult Honsha Co., Ltd., among others.
Sports and Fitness Clothing
Worldwide, participation in individual and team sports and fitness activities is on the rise, which is expected to provide a significant thrust to sales of sports and fitness clothing in the following years. Within the developing regions, the trend towards westernization is fast catching up and together with rising income levels, there is considerable demand for using sportswear for sports as well as casual purposes. Continuously evolving and heading in diverse directions, the sports apparel market has found new themes versatility, growing fashion consciousness, increase in sports participation, particularly among women, emphasis on product performance and comfort, focus on healthy life styles that are propelling its steady growth. The US, the largest sporting goods market worldwide, continues to set global standards in the industry.
Major players in the global sports and fitness market include ASICS Corporation, adidas Group, Reebok International Ltd., Bauer Performance Sports Ltd., HanesBrands, Inc., lululemon athletica Inc., Nike, Inc., Puma SE, Under Armour, Inc., and VF Corporation, among others.
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