WELLESLEY, Mass.—The global market for sports nutrition was worth $27.2 billion in 2007, according to a new report from market research firm BCC Research. The organization further estimated sales will top $31.2 billion in 2008 and reach $91.8 by 2013, a compound annual growth rate (CAGR) of 24.1 percent.
BCC’s report, Sports Nutrition and High Energy Supplements: The Global Market, breaks down the market into sports beverages, sports food and sports supplements, with beverages taking the largest market share and growing at the fastest rate. Revenues for sports beverages were $24.9 billion in 2007, and are expected to have a CAGR of 25.6 percent through 2013, resulting in an $87.0 billion market. The sports food segment was worth $1.2 billion in 2007 and will reach an estimated $1.5 billion in 2008. This should increase to $2.5 billion in 2013, for a CAGR of 10.0 percent. The sports supplements segment was worth $1.1 billion in 2007 and will reach an estimated $1.9 billion in 2008. This should reach $2.3 billion in 2013, a CAGR of 4.0 percent.
According to BCC, the United States is the largest consumer market for sports nutrition products, followed by Western Europe and Japan. Key market drivers include taste, price, variety and brand trust. Now that the demand for sports nutrition products is coming from mainstream consumers, convenience and taste are seen as the biggest growth drivers.¹
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With over 100 million baby boomers beginning to retire in the USA alone, this industry is set to go into hyper space. This group is extremely health conscious and will seek out excellent products to compliment their lifestyle.
The media has made us extremely aware of all the health problems that plague us, and I think it has finally started to filter through to our lifestyle. People also think because they are buying health supplements such as Vitamins, that they can tick that box and not worry about the rest of their diet.