The online company, which is now in its second year of trading, sells protein products such as protein pancakes, protein porridge, bite-sized protein treats and protein crisps as well as a range including amino acids, minerals and vitamins, carbohydrates and fibres.
Co-founder and head of marketing, Mark Coxhead told Nutraingredients that there was interest from across the globe in its range, including from “huge virgin markets such as India and the Far East.”
He said that the Protein Works, launched in December 2012, saw sales of more than £2.25m (€2.8m) in its first year of trading and aims to more than double that in 2014 to £6.5m (€8m).
Exploring new ingredients
The company is currently exclusively online and delivers to more than 30 countries across Europe. As it expands, it plans to set up collaborations with sports organisations such as Everton Football Club, and also seek cross-over opportunities into other areas, according to Coxhead.
“Our core focus is protein, but we see opportunities across our product range in terms of new formats and working with new ingredients and technologies. It's our ability to challenge conventions and experiment, in search of what we call paradigm shifting products, that sets us apart in sports nutrition today. For us, it's all about using the finest ingredients and keeping things ultra-pure to ensure whatever the product, it helps our customers achieve the results they are looking for.”
All natural flavours
Co-founder, and head of development, Nick Smith added the fact that the company has a commitment to only use all natural colours and flavours, flavours like lemon shortcake and cherry bakewell, made its products appealing to the mainstream audience.
He says: “Customers have even said the flavours invoke childhood memories of their favourite deserts and mum’s homemade cooking which is the biggest compliment we could get really.”
In 2010 market research firm Datamonitor identified the ‘lifestyle user’ consumer group as being key to the growth and development of the sports nutrition sector, The Protein Works reports.
Datamonitor senior consumer analyst, Richard Parker said in that report that ‘lifestyle users’ are not necessarily athletic but are choosing to consume sports nutritional products as a building block to a healthier lifestyle.
These customers now play a critical role in the growth of the sector, says market intelligence firm Euromonitor says. Despite the VAT increase that hit the sports nutrition sector in the UK in 2012, it grew by 16% and has now reached value sales of £301m (€375m)
Euromonitor International forecasts a Compound Annual Growth Rate (CAGR) of 9% in constant value terms in the forecast period 2013-2018 to reach value sales of £471m (€588m).