New York City, New York, Feb 19, 2016: A market research report recently published by Persistence Market Research analyses the prime factors driving and inhibiting the global market for sports supplements. The report, titled “Global Sports Supplements Market is Expected to be Valued at US$ 13,579.4 Mn by 2021”, states that expanding at a positive 9.1% CAGR between 2014 and 2020, the global market for sports supplements will rise from valuation of US$6,800.8 million in 2013 to US$12,449.6 million by 2020.
The report states that the global market for sports supplements is observing a steady growth over the past few years owing to a paradigm change in the global population’s perspective about physical fitness.
The rising awareness about the many health issues one can easily escape by adopting a healthy lifestyle has led to the development of a massive global market for dietary substitutes. These dietary substitutes help in cutting unwanted calories from the diet and help the health conscious individuals to switch to lower-calorie alternatives. Sports supplements, as most of these dietary supplements are called, are available in the market in a variety of forms, such as powders, gel caps, pills, tablets, and granules.
Mainly consumed by athletes and bodybuilders to enhance their athletic and workout performances, the market for sports supplements has witnessed remarkable growth in the past years owing to the increasing number of fitness centers and health clubs opened across the globe. Rising urbanization, busy lifestyles, and the epidemic-like spreading concern of obesity are also some other key factors driving the global sports supplements market.
The easy availability of sports supplements at places such as health food stores, pharmacies, supermarkets, and fitness clubs has also led to increased consumption of sports supplements across the globe. These distribution channels have led to high market penetration of sports supplements in the recent years. Over the past few years, the number of health clubs has increased at an enormous pace, leading to increased growth potential for the global sports supplements market.
The busy lifestyles of the urban population and advances in the global e-commerce industry have made online shopping a preferred medium of shopping sports supplements in the past few years.
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The report segments the global market for sports supplements on the basis of product types and key regional markets. Based on the various products available in the market, the report further segments the market into protein powder, protein and non-protein supplements, and RTD protein supplements. Geography wise, the market is segmented into North America, Asia Pacific, Europe, and the Rest of the World.
View TOC (table of content), Figures and Tables of the Report: http://www.persistencemarketresearch.com/toc/3034
Of the various product types studied in the report, the segment of protein powder held the largest share in terms of market revenue in 2013 and is expected to rise at a 9.4% CAGR between 2014 and 2020, and rise from US$4715.8 million in 2014 to US$8065.7 million in 2020.
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Of the key regional markets studied in the report, the market for sports supplements in North America held the largest market share in 2013, followed by the European market. While developed markets in North America such as the U.S. and Europe are currently the dominant buyers of sports supplements, the changing purchasing pattern of developing countries is expected to challenge the monopoly of the developed countries in the sports supplements market.
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