Market Research Reports Search Engine (MRRSE), a leading portal offering business intelligence reports, has announced the addition of a study titled ‘Global Market Study on Sports Supplements: Protein Powder witness highest share in product segment by 2020’ to its database. The report, published by Persistence Market Research, pegs the CAGR of the market at a healthy 9.1% from 2014 through 2020. This indicates that the market value US$12,449.6 million by 2020, growing considerably from its 2013 value of US$6,800.8 million.
The report meticulously studies each section of the global sports supplements market by segmenting it on the basis of product types and geographical regions. By product, the market is composed of: Protein powder, non-protein supplements, RTD protein supplements, other protein supplements, and others. Of these, protein powder is the most widely consumed segment in the world and thus holds the largest share in the global sports supplements market. At a 9.4% CAGR from 2014 to 2020, the protein powder segment is expected to register a pace of growth exceeding that of the overall sports supplement market. The protein powder segment is estimated to be worth US$8,065.7 million by 2020, globally.
The report also profiles leading entities in the global sports supplements market. These include: MaxiNutrition, NBTY, Inc., GNC Holdings, Inc., Glanbia Plc , and Herbalife, Ltd. The market, on the basis of geographical region, is segmented into North America, Asia Pacific, Europe, and Rest of the World. Much of the business in the sports supplements market is currently concentrated in North America. The next largest markets for sports supplements are Europe and Asia Pacific. Going by the market shares of different regions, it is evident that the sports supplements culture is yet to gain popularity outside of the traditional markets of North America and Europe. An analysis of the Asia Pacific and RoW markets shows that a departure from conventions is occurring and the effects will be visible over the next decade.
Asia Pacific, especially, carries massive potential for the further growth of the global sports supplements market. This growth will occur essentially because the region has a high population growth rate. This is corroborated by the findings of the United Nations Department of Economic and Social Affairs (UN DESA), which say that by 2050, Asian countries will be home to about 3.3 billion urban dwellers. Growth in APAC will largely be concentrated in Australia, Japan, China and India.