Sports nutrition was negatively affected by the pandemic in 2020, with growth slowing against a backdrop of gym closures and lockdowns. However, even with Coronavirus (COVID-19) still present in the region, growth has picked up again in 2021, with people trying to work out and exercise as best they can, particularly given the increased focus on health due to the pandemic. With health and wellness remaining important for consumers, sales will continue growing over the forecast period.
This report comes in PPT.
Asia Pacific continues to experience changing lifestyles backed by increased disposable incomes, which grew by 8% y-o-y over 2017-2018. People have developed an increased interest in fitness and healthy lifestyles, resulting in a rising trend amongst consumers to join gyms, as well as resorting to supplementation through sports nutrition to maintain a balanced diet.
In 2018 Japan was the largest market for sports nutrition products in Asia Pacific. It experienced an increase in sporting activities due to the fervour associated with the upcoming Summer Olympics in Tokyo in 2020. Also, people are becoming more aware of topics such as the benefits available from different types of products, and are increasingly reading product labels to gain maximum results.
International sporting events such as the recent PyeongChang 2018 Winter Olympics in South Korea, followed by the approaching Summer Olympics in Tokyo in 2020 and the Winter Olympics in Beijing in 2022, have helped promote the health and wellness trend and created interest in sports amongst the mainstream, directly impacting sales.
Under non-store retailing, internet retailing leads distribution in Asia Pacific due to factors such as a broader selection of options, greater convenience and lower prices. Also, there is an increase in cross-border e-commerce transactions through sports nutrition websites such as BodyBuilding.com.
The Asia Pacific market is witnessing a continuous shuffling in the rankings of the top brands due to intense competition. This resulted in Optimum Nutrition topping the market in 2018, due to the continued success of its products such as Gold Standard Whey, which are doing extremely well in India.
It is the aggregation of OTC, Vitamins and Dietary Supplements (VDS), Sports Nutrition, and Weight Management and Wellbeing
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