We are pleased to report that the UK Sports Nutrition market has grown by 16% and reaching value sales of £301 million* despite the potentially catastrophic 20% tax hike. The tax hike was implemented in October 2012 and saw HMRC re-classify standard whey, creatine and amino acids from 0%, to the 20% VAT bracket**.
It is even better news for Maxi-nutrition, acquired by GlaxoSmithKline in 2010. Maxi-nutrition survived the VAT hike and remained the market leader with a recorded 37% value share in 2013. The brand has retained a strong presence thanks to its leading brand Maximuscle. The Maximuscle brand offers an impressive product range and is widely available in sports nutrition retailers and online as well as major supermarket chains such as Tesco and Sainsbury’s.
Increasing awareness
By having these agreements in place Maxi-nutrition is able to further expand its availability and visibility to the consumer on the shelves of retailers, including Tesco. The brand is also able to market its range at very competitive prices, often using promotions online and in stores.
At the start of 2014 Maxi-muscle changed its name to Maxi-nutrition. Despite being an established brand for over 20 years Maxi felt a rebrand was needed due to changes and demands of the market. By moving away from the word “muscle” and embracing the word “nutrition” the product can be marketed to a mass market rather than the health and fitness enthusiast.
– Craig Read, commercial director at Maxi-nutrition UK
The Sports nutrition market is expected to continue to grow, with a forecast period 2013-2018 to reach value sales of GBP471 million*. So, with the markets growing with Maxinutrition leading the way, what are you doing to keep up? Book a free consultation to find out how you can grow in the sports nutrition market.
References:
*Source 1 – Digital Journal
**Source 2 – Nutra Ingredients
***Source 3 – Sport Industry