A British study has found that the global market for performance foods and drinks is now worth in excess of $11billion(€12.5bn), and is dominated by drinks, which account for over 90 per cent of total sales.
The report published by the Leatherhead Food RA, and called "The Market For Performance Foods and Drinks - A Global Analysis", claims that the market is led by Japan and the US, both of which have large and established sports drinks markets. Japan also has a significant energy drinks sector.
According to the report, the performance foods market is dominated by the US, which has developed a $750million (€853m) energy and nutrition bar market in recent years, which now accounts for half the overall snack bar market.
It also notes that the performance foods and drinks market is mainly being driven by developments in the US. "Further development of performance foods and drinks in other countries will largely depend on the extent to which other countries follow US trends. With the UK and Australia tending to follow US trends more closely than Continental Europe, it is likely that these countries are likely to see stronger mainstream market development over the next few years."
The report attributes success in the sector to "rising consumer interest in health, growing awareness of the benefits of exercise and the perceived need to cope with increasingly busy lifestyles." Indeed, many products once seen as specialist nutrition products are more likely to be found in the mainstream market now.
Sports drinks are used by a wider range of people as a lifestyle choice, and energy drinks have an even wider appeal, from the drink of choice for clubbers to keep fluid levels up and energy levels high, to an aid to concentration when working long hours or driving long distances.
The study aims to give a global overview of the performance food and drinks market, and highlight the trends and future developments in the industry. A detailed review of the performance market in Japan, the US and the five major European markets of the UK, Germany, Spain, Italy and France, and Australia is included.
Details on the report can be found at www.lfra.co.uk