Global nutrition products market is predicted to grow considerably in the coming years due to changing lifestyle of consumers from developing economies. Nutrition products are the dietary items that improve the body’s nutrition. They are ready-made consumables, packed with protein, calories, minerals and vitamins and are widely available in different styles and flavors. The nutrition products are consumed with a healthy diet but do not replace the regular diet.
The key driving factors of nutrition products market include high demand from the sports population and gym professionals, increasing urbanization, growth in fitness club members, rise in elderly population, increase in spending power of consumers in developing economies, growing obese population, introduction of variety of nutrition products. Additionally, growing marketing strategies and advertising campaigns by the leading market players is also propelling the market growth. However, nutrition product market is hampered by the availability of cheaper substitutes and increasing food safety issues.
Strong growth of nutrition products segment, increasing use of supplements and growing e-commerce sales are a few trends observed in the market. Nonetheless, ban on any particular ingredient used in any of the nutrition products is an opportunity for the market players to sell the same ingredient in the developing nations, where the norms are less strict.
The market is categorized based on product type, distribution channel, end user, and geography. Based on product type, market is divided into iso drink powder, supplement powder, protein powder, RTD protein drinks, capsule/tablets (Creatine, BCAA and others), carbohydrate drinks, iso & other sports drinks, carbohydrate/energy bars, protein bars, and others. Iso & other sports drinks segment lead the market owing to adoption of various marketing strategies by the market players and increasing focus on product improvement.
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Based on distribution channel, nutrition products industry is divided into drug & specialty stores, fitness institutions (gym & health clubs), independent retail stores, online retail stores, and others. Drug & specialty stores, large retail & mass merchandisers, and retail stores lead the market due to easy availability of nutrition products. Furthermore, online retail stores also account for considerable market share due to availability of a wide range of nutrition products, increased penetration of internet and growing number of online retailers.
In terms of end user, market is bifurcated into recreation purpose, athletes, and bodybuilders. Athletes and bodybuilders segment lead the market due to high preference for nutritional diet.
Geographically, nutrition product market is segmented as North America, South America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is expected to lead the market due to high demand from emerging economies like Japan. This can attribute to the prevalence of traditional sports, such as sumo, martial arts, baseball, football, etc. North America is also expected to hold a larger share of the market due to increasing preference for healthy diet among adults and millennials. Furthermore, Europe also accounts for a significant share of the market due to growing demand for nutrition products.
The major players in the nutrition products market include Abbott, America Advanced Nutritional Technology, Nature Made, Neocell, GNC, Atrium-Innovations, Rainbow Light, Puritan’s Pride, DSM, Vitamin World, Nature’s Bounty, Y.S. Organic, USANA, Amway, Optimum, ForeMost, GI Nutrition, Verda Superfood, Twinlab, and Nature’s Way.
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