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Asia-Pacific Sports Nutrition market AMR
Allied Market Research forecasts robust growth in the Asia-Pacific sports nutrition market
The Asia-Pacific sports nutrition market is witnessing significant growth, fueled by the region's expanding fitness culture and consumer interest in health-enhancing products.” - Allied Market Research
WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, July 7, 2024 /EINPresswire / -- Asia-Pacific Sports Nutrition Market Report, published by Allied Market Research, forecasts that the APAC market is expected to garner $7.8 billion by 2020, registering a CAGR of 9% during the period 2015-2020. In the current market scenario, Japan occupies the largest share of approximately 28%, owing to higher penetration of sports drinks and sports food. China was estimated to be the second largest revenue generating country, followed by Australia in the Asia-Pacific sports nutrition market in 2014.
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Major categories of sports nutrition products include sports drinks, sports supplements and sports food. Sports drinks segment accounted for the largest share of the overall market in 2014, and is anticipated to be the leading contributor throughout the forecast period. Sports food segment would witness a double digit growth during 2015-2020, and would account for a revenue of around $2.3 billion by 2020, owing to increasing demand of products such as protein bars in the mainstream market, comprising recreational and lifestyle users. Demand of sports supplements such as meal replacements, would increase among women and other households, due to increasing consciousness towards personal appearance.
Large retail and mass merchandize stores accounted for the largest share of 28.7% of the overall sales of sports nutrition products in 2014, closely followed by the small retail format which includes convenience stores, grocery & specialty stores and others. Sale of sports nutrition products through online distribution channel would witness the fastest growth during, 2015-2020. Players operating in the market have adopted attractive promotional and cross selling strategies in order to boost their online sales.
📍Introduction to the Sports Nutrition Market in the Asia-Pacific Region
The sports nutrition market in the Asia-Pacific region is experiencing rapid growth, driven by increasing health consciousness, rising participation in sports and fitness activities, and growing disposable incomes. Sports nutrition products, including protein powders, energy bars, hydration drinks, and supplements, are designed to enhance athletic performance, support muscle growth, and improve recovery. The market's expansion is fueled by the region's diverse consumer base, encompassing professional athletes, fitness enthusiasts, and individuals seeking healthier lifestyles.
📍Market Drivers and Trends
Several factors are contributing to the robust growth of the sports nutrition market in the Asia-Pacific region. The rising awareness of health and fitness, coupled with the increasing prevalence of lifestyle-related diseases, is driving consumers to adopt healthier habits, including the use of sports nutrition products. The popularity of fitness trends such as bodybuilding, CrossFit, yoga, and marathons is boosting the demand for performance-enhancing supplements. Additionally, the influence of social media and fitness influencers is playing a significant role in promoting sports nutrition products. Technological advancements in product formulation and packaging, along with the growing availability of sports nutrition products through e-commerce platforms, are further supporting market growth. There is also a trend towards natural and plant-based ingredients, reflecting the broader shift towards clean and sustainable nutrition.
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📍Regional Insights
The sports nutrition market in the Asia-Pacific region varies significantly across different countries. In China, the largest market in the region, there is a strong demand for protein supplements and energy drinks, driven by the increasing number of gyms and fitness centers and a rising middle-class population interested in fitness. Japan's market is characterized by a high level of innovation and the introduction of functional foods that combine convenience with health benefits. In India, the market is expanding rapidly, fueled by a growing fitness culture and increasing disposable incomes, with protein powders and energy bars being particularly popular. Southeast Asian countries like Malaysia, Thailand, and Indonesia are witnessing a surge in demand for sports nutrition products, driven by urbanization and the influence of Western fitness trends. Each country presents unique opportunities and challenges, shaped by local consumer behaviors, regulatory landscapes, and economic conditions.
📍Challenges and Opportunities
Despite the promising growth prospects, the sports nutrition market in the Asia-Pacific region faces several challenges. Regulatory complexities and varying standards across countries can pose hurdles for market entry and product approval. Additionally, there are concerns related to the safety and efficacy of sports nutrition products, necessitating stringent quality control and transparent labeling. The high cost of premium sports nutrition products can be a barrier for some consumers, particularly in price-sensitive markets. However, these challenges also present opportunities for innovation and differentiation. Companies can focus on developing affordable and accessible products tailored to the specific needs of different consumer segments. Emphasizing natural and organic ingredients can attract health-conscious consumers. Collaborations with fitness centers, sports organizations, and influencers can enhance brand visibility and credibility. Leveraging digital marketing and e-commerce platforms can further expand market reach and engagement.
The sports nutrition market in the Asia-Pacific region offers significant growth potential, driven by increasing health consciousness, rising participation in fitness activities, and growing disposable incomes. By understanding regional nuances and addressing specific market needs, companies can effectively navigate the complexities of this diverse market. Emphasizing innovation, quality, and sustainability will be key to capturing the growing demand for sports nutrition products in the Asia-Pacific region.
Key Findings of Asia-Pacific Sports Nutrition Market:
. Japan was estimated to be the highest revenue generating country in the Asia-Pacific sports nutrition market in 2014, owing to higher adoption of sports drinks and sports food
. Australia accounted for the largest share of the overall sales of sports supplements in 2014, due to higher percentage of obese population
. Sports food segment would witness a double digit growth during the forecast period, owing to increasing demand among lifestyle users
. China and India would witness the notable growth during 2015-2020, due to increasing adoption of sports nutrition products amongst lifestyle & recreational users
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Prominent companies operating in this market include Yalult Honsha Co. Ltd., The Coca-Cola Company, Universal Nutrition Corporation, CytoSport Holdings Inc, PepsiCO. Inc., GNC Holding Inc., Suntory Beverage and Food Ltd., Glanbia Plc., Herbalife Nutrition, and Otsuka Pharmaceutical Co. Ltd.,Product launch and acquisition have been the key strategies adopted by players to gain competitive advantage. Moreover, companies have adopted innovative marketing strategies and have focused towards strengthening their distribution channel in order to attract more number of customers.
📝About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.
We have professional corporate relations with various companies and this helps us dig out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality of data and help clients in every way possible to achieve success. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top officials from leading companies in domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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