PUNE, India, May 19, 2020 /PRNewswire/ -- Sports nutrition has received considerable attention over the past few decades as it plays such crucial role in an athlete's performance. Sports nutrition influences nearly every process in the body involved in energy production and recovery from exercise. "Sports Nutrition Market ( By Product Type - Sports Food, Sports Drink, and Sports Supplements; By Distribution Channel - Bricks and Mortar, E-Commerce, and Others; By End-User – Athletes, Bodybuilder, and Others) Global Industry Analysis, Trends, Size, Share and Forecasts to 2026, published by Infinium Global Research", the reported study estimated the market for sports nutrition will reach up to 86,110.8 million in 2026, with a Compound Annual Growth Rate of 6.32%, over the forecast period (2020-2026).
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Key Players Adopting Expansion, Acquisition & Partnership Strategies
In March 2020, Herbalife Nutrition which is the global leader in nutrition has come into sports nutrition partnership with Inspire Institute of Sport (IIS). This partnership is expected to provide the best science-based nutrition products and proficiency to make possible highest level of sports performance from the athletes. Furthermore, in November 2018, Science in Sports (SiS) has acquired a well-known sports nutrition brand PhD, which is headquartered in Hull and sold across the UK. Its products are sold through the likes of Holland & Barrett, Sainsbury's, Tesco and ASDA. The takeover will give SiS access to an established and growing international presence in more than 45 countries across Europe, the Middle East, China and Australia.
The above figure shows the age group of respondents in the survey conducted for the consumers of sports nutrition. After analyzing it, we came into results that people having age between 20 to 40 are the major consumers of sports nutrition. Increasing awareness about physical fitness is the key growth factor in this age group. People having age between 40 to 60 are the second largest consumers of sports nutrition. Increasing health awareness is the primary growth factor in this age group. People having age less than 20 and more than 60 consume less sports nutrition as compared to other age groups.
According to responses collected from consumers across the globe, we conclude that males consume more sports nutrition than females. The majority of consumers prefer sports nutrition's for health benefits and to increase energy levels. Majority of consumers prefer sports drinks over sports food and sports drink. Moreover, sports nutrition is consumed almost every day by consumers. Consumers also prefer to buy sports nutrition from bricks and mortar.
Sports Drink and Bricks & Mortar are a Major Revenue-Generating Segment
The report on the global sports nutrition market covers segments such as product type, distribution channel, and end-users. Based on product types, the market is sub-segmented into sports food, sports drink, and sports supplements. Sports drink segment dominated the sports nutrition market owing to high consumption by athletes and active lifestyle consumers to maintain the water level in their body. Based on the distribution channel, the market is sub-segmented into bricks and mortar, E-Commerce, and others. The bricks and mortar segment holds a large market share of the sports nutrition market due to high consumer base for retail stores. On the basis of the end-users, the market is sub-segmented into athletes, bodybuilders, and others.
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The North America Region Is the Most Lucrative Region for the Sports Nutrition
Geographically, the global sports nutrition market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America dominates the global sports nutrition market as it holds more than 40% market share of the global market in 2019. The U.S. and Canada are major consumers of sports nutrition in this region. Europe is the second-largest market for sports Nutrition owing to high consumption in countries such as Germany and the UK. The UK is the fastest-growing market for sports Nutrition in the European region. The Asia Pacific is the fastest-growing region due to growing demand among bodybuilders and athletes.
The Report Provides:
- Comprehensive analysis of the factors promoting the growth in the sports nutrition market
- Survey results for
- Consumer preferences
- buying patterns
- spending habits
- purchase decision making
- preferred distribution channels
- Choice of alternatives in case of unavailability of the product
- consumer feedback
- Social listening.
- Competitive landscape in the leading country markets in the world
- Worldwide competitive landscape and market trends in the sports nutrition market
- Analysis of the worldwide market using analytical tools such as porter five forces, market drivers and opportunity analysis, product position matrix.
Research Methodology and Data Collection Methods for the Report
Infinium Global Research published reports are based on extensive primary and secondary research methods. The research begins with extensive exploration through secondary sources followed by primary research. With these research methods we are able to estimate the market size of the sports nutrition market, to identify the factors that promote the growth in this market as well as the factors that hamper the growth in the market.
The secondary research primarily involves extensive exploring through the secondary sources of information available in both public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources. While the primary research involve extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents. The primary respondents generally include key opinion leaders associated with Infinium Global Research, internal and external subject matter experts, and professionals and participants from Linkedin, Hoovers, Factiva and bloggers.
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SOURCE Infinium Global Research