Main Essay
Main Essay
Name: Johirul Hassan
Student Number: 14097981
Subject: Introduction to Microeconomics
Module leader: David Kraithman
Word count: 1129 (excluding title, name etc)
Use demand and supply analysis to consider the current conditions in one of the following markets: (2) Protein sports drinks
Bodybuilders and Athletes often supplement their diets with a powdered form of protein, also known as Protein sports drinks. But how effective is this? Currently, no consensus has been reached in determining whether or not an individual in exercise can benefit from protein supplements. The Daily Mail quotes, “Protein drinks ‘are no help for athletes and aren’t better than a balanced diet’,” with The Independent also reporting that there is “no benefit from sports drinks”. However, does this affect the Protein sports drinks’ market?
Clear Barrett writes in an article on The Financial Times saying that Myprotein.com, Europe’s leading online sports nutrition retailer is forecast to generating earnings of £6M on annual turnover of £25M in the year 2011 from the sale of sports protein drinks and supplements, favoured by bodybuilders and sports enthusiasts. Its sales are expected to reach £160M this year.
(Euromonitor 2009) found that “Globally, the U.S is the largest market for sports nutrition supplements and represents 63% of the value. Mexico is the second largest market with US $192 million in retail sales, followed closely by the United Kingdom with US $172 million. Japan has a market size of US $87 million, while China and India have negligible sports nutrition retail sales.
However, Authenticity and efficacy remain big challenges for the sports nutrition market. (Euromonitor, 2008) stated that “the global market for sports nutrition supplements was valued at US $4.2 billion. The market experienced strong growth until 2008, then growth gradually declined due to a lack of consumer confidence in spending on discretionary products, as a result of the global recession. “
Name: Johirul Hassan
Student Number: 14097981
Subject: Introduction to Microeconomics
Module leader: David Kraithman
Word count: 1129 (excluding title, name etc)
Use demand and supply analysis to consider the current conditions in one of the following markets: (2) Protein sports drinks
Bodybuilders and Athletes often supplement their diets with a powdered form of protein, also known as Protein sports drinks. But how effective is this? Currently, no consensus has been reached in determining whether or not an individual in exercise can benefit from protein supplements. The Daily Mail quotes, “Protein drinks ‘are no help for athletes and aren’t better than a balanced diet’,” with The Independent also reporting that there is “no benefit from sports drinks”. However, does this affect the Protein sports drinks’ market?
Clear Barrett writes in an article on The Financial Times saying that Myprotein.com, Europe’s leading online sports nutrition retailer is forecast to generating earnings of £6M on annual turnover of £25M in the year 2011 from the sale of sports protein drinks and supplements, favoured by bodybuilders and sports enthusiasts. Its sales are expected to reach £160M this year.
(Euromonitor 2009) found that “Globally, the U.S is the largest market for sports nutrition supplements and represents 63% of the value. Mexico is the second largest market with US $192 million in retail sales, followed closely by the United Kingdom with US $172 million. Japan has a market size of US $87 million, while China and India have negligible sports nutrition retail sales.
However, Authenticity and efficacy remain big challenges for the sports nutrition market. (Euromonitor, 2008) stated that “the global market for sports nutrition supplements was valued at US $4.2 billion. The market experienced strong growth until 2008, then growth gradually declined due to a lack of consumer confidence in spending on discretionary products, as a result of the global recession. “
References: King, D. (2012) Economics. OUP Oxford Euromonitor International. (July 2009). Global Health and Wellness: Powerful Nutrition 2009 and Beyond. Datamonitor. (August 2006). How to Attract New Sports Nutrition Consumers. Using mainstream health products to pitch professional-style products. Henry, T. (2012) More teens using muscle enhancing products. Available at: http://thechart.blogs.cnn.com/2012/11/19/muscle-building-increasing-focus-of-teens/?hpt=hp_bn12 [Accessed 26th November 2012] Debate over protein drinks for exercise (2011). Available at: http://www.nhs.uk/news/2011/07July/Pages/evidence-protein-drinks-whey-powder-exercise.aspx [Accessed 26th November 2012] Barrett, C. (2011) Hut Group buys online sports nutrition retailer. Available at: http://www.ft.com/cms/s/0/844e6814-8c6f-11e0-883f-00144feab49a.html#axzz2DL1RMpzI [Accessed 26th November 2012] Overview of the Global Sports Nutrition Market Food, Beverages and Supplements (2010) Available at: http://www.ats-sea.agr.gc.ca/inter/5569-eng.htm [Accessed 26th November 2012] Kelsey, R. (2012) Dieticians say extra protein can do more harm than good. Available at: http://www.bbc.co.uk/newsbeat/19449377 [Accessed 26th November 2012]