Sports Food Market expected to grow at a CAGR of 7.59% from 202 to 2027 Globally – Axiom MRC
Axiom Market Research & Consulting published a report which covers detailed analysis of key drivers and restricting factors, value chain analysis, economic impact of COVID 19 on sports food market, GDP impact of COVID 19 and competitive landscape backed by strategic outlook of each company. The global sports food market was projected to grow at a CAGR of 7.59% over the forecast period of 2020 to 2027. The global market is estimated and forecasted in terms of revenue (USD million) generated by the sports food market.
Sports food market reports comprise of market estimates and forecast based on product, distribution channel, end user and geography. Product category further includes energy food, protein-based, rehydration, pre-workout and meal replacement. Additionally distribution channels considered in this market study includes supermarkets, convenience stores, drug stores, online channel. Moreover, end-user analyzed in this report includes athletes, bodybuilders, and recreational user and lifestyle users. Based on geography the global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World.
Key Driving Factors and Growth Challenges
• Growing popularity of e commerce channels has made it easier for the brands to reach directly to the consumers along with giving access to the international and trusted brands, promoting product consumption in the common class of consumer.
• Stressful life, busy schedules, obesity and chronic disease have induced mindset shift among the consumer towards daily exercise and fitness increasing gym and fitness club memberships
• Availability of cheap & counterfeit products owing to high penetration of various players in e commerce channels providing subdued products without proper legal authentication will act as a major challenge for industry growth.
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