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.
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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.
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.
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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.
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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