New York: Persistence Market Research (PMR) says that sports supplements will be a US$12,449.6 million market globally by 2020, growing robustly from its 2013 value of US$6,800.8 million. Much of this growth can be credited to the sheer ease with which sports supplements can be purchased today. Most companies heavily use e-commerce portals to sell their products while others reach consumers through gyms, fitness clubs, health stores and exclusive retail stores.
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While some experts lambast sports supplements for their reported side effects, others say that sports supplements may actually promote good health when consumed in regulated quantities. Pit experts against each other as they will, but there’s no denying that sports supplement sales are on the rise, and this trend will likely continue over the coming decades. While these ergogenic aids were previously only consumed by athletes and bodybuilders, today it is not uncommon to see the average person turn to sports supplements in a bid to improve vitality, vigor, and health.
The PMR report studies protein-based supplements and non-protein based supplements. For the purpose of this study, the former is further split into protein powder and ready-to-drink protein supplements. Come 2020 and the protein powders will emerge as the largest segment in the global sports supplements market, hitting approximately US$8065.7 million by 2020.
How Sports Supplements are Riding High on the Ecommerce Wave
- According to the European Travel Commission’s Digital Portal, the total business-to-customer (B2C) ecommerce sales were pegged at US$1.5 trillion in 2014, reflecting a 20.1% jump over the. Worldwide, e-commerce sales in 2015 are predicted to hover around the US$1.771 trillion mark.
- These figures are massively encouraging for almost every business that sells via the internet, but especially so for the sports supplements market. The majority of companies dealing in sports supplements sell directly to their end consumers via online portals.
- On their part, consumers too show a strong preference for purchasing muscle builders and performance enhancers online simply because it is a more convenient process and helps save both time and money in the bargain.
- Almost every major sports supplement label is now available online. In the U.S. alone, the number of people shopping from ecommerce portals is projected to hit 215.1 million by the end of 2018.
- Another key trend in the online sales of sports supplements is to sell through numerous blogs and other websites that are dedicated to the healthcare segment. This not only helps companies brand their products, but also translate these branding initiatives into tangible sales.
- As is the case with most other products, websites such as Amazon.com, EBay.com, and Vitacost.com are among the preferred sales channels for companies dealing in sports supplements.
While no player in the global sports supplements market can afford to undermine the power that ecommerce yields on increasing sales, companies also need to align themselves with the latest health mandates, especially because stringent regulatory frameworks are still conspicuous by their absence in this industry.
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