Performance Nutrition Market in UK: Key Research Findings
- Soaring number of wellbeing clubs and gyms
- Escalating market initiatives and online retailing
Technavio has added a new report on the Performance Nutrition Market in the UK to its nutrition segment. Analysts estimate that the performance nutrition market in the UK is estimated to grow at a CAGR of more than 8% between 2015 and 2019, owing to the increase in retail penetration in the UK and campaigns on sports nutrition marketing.
The new research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
Consumption of protein products is increasing thanks to the growing perception of these products being compulsory elements of working out (cardio, jogging on the treadmill). Performance nutrition products are mostly consumed by people who aspire a healthy lifestyle, or those inclined towards losing or gaining weight. The market is experiencing significant growth due to the spiralling number of gyms and wellness centres propping up in cities and an overall shift toward a more conscious and healthy lifestyle.
Web retailers of performance nutrition products are selling their products online by introducing novel components to them. Inclination towards internet is primarily to boost sales as it has an extremely competitive space, easy accessibility to customers, an array of digital tools for tracking sales and visitor traffic. Online retailing is especially advantageous for small and medium enterprises that cannot afford huge marketing space and budgets, and an additional advantage for consumers who can avail products without physical engagement.
Performance nutrition market in UK by online retail ($ millions)
Source: Technavio Research
“Performance nutrition products are consumed not only by athletes and body builder but also by other recreational users. Vendors are repackaging their offerings by adjusting fixings, bundling, and serving capacity.,” says Sriram Mohan, Consumer Good, Retail, Food Services, Technavio Research.
Three major vendors dominate the performance nutrition market including GSK, EAS (Abott) and Reflex Nutrition. The surge in the national and international sporting events taking place in the UK is expected to drive the performance nutrition market over the next four years. Around 80 marathons are expected to take place during 2015 in the UK.
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