The sports nutrition market is in growth, fuelled by broader brand appeal, analysts have found.
A new report from Key Note has revealed that the UK market for sports nutrition products continued to exhibit year-on-year growth in 2013, with market value increasing by 8.8 per cent from 2012. It believes the market will continue to develop, with dramatic growth forecast of 34 per cent between 2014 and 2018.
The growth was spread across all four market sectors – powders, capsules and tablets, pre-prepared products and gels – but it was protein-based powders that continue to be the most popular product by a significant margin.
Key Note says the primary reason for such strong sales performance in recent years is the broadening consumer appeal of sports nutrition products, moving away from the traditional professional athletes, and bodybuilders.
Now, thanks to broader brand strategies, NPD and an increasingly health-conscious consumer base, there is now a much larger potential sales base for recreational athletes. Key Note added that events such as the London 2012 Olympics and the 2014 Glasgow Commonwealth Games have inspired many consumers to exercise more frequently.
While the sports nutrition market cannot yet be described as fully robust, Key Note expects impressive sales performance to continue throughout the next five years, fuelled by NPD, increasingly widespread distribution and targeted marketing strategies.