NEWS IN BRIEF
Market research company estimates sports supplement market to surpass $10 billion in 2020
Analysts at Persistence Market Research attribute “increasing consumer awareness towards physical health and fitness” as the driving force of growth in the global sports supplements market. Valued at US$6.9 billion in 2013, the report said the category is expected to grow at a compound annual growth rate of 9.1% from 2014 to 2020, reaching an estimated value of US$12.4 billion.
“Historically, consumers of sports nutrition products have been bodybuilders and athletes. Growing consumer base including lifestyle and recreational users, who prefer to take sports supplements for health and fitness reasons has further reshaped the market,” the company said in a press release.
The report is titled “Global market Study on Sports Supplements: Protein Powder witness highest share in product segment by 2020” and can be found here.
