- Ireland-based Glanbia now controls about 13% of the $11.3 billion global sports nutrition market and is the biggest player in the segment.
- The protein powders, shakes and bars for the sports and health food industry added the most ot the company, which saw its earnings rise 35% in the first half of the year.
- In that same time frame, the traditional ingredients division saw its earnings fall 4%.
The sports nutrition segment — comprising sports food and drinks and supplements — is growing rapidly. According to a Technavio report in June, it is expected to expand at a CAGR of more than 8% from now to 2020. Food and drinks have the vast majority of the market share, with 83%.
Glanbia has been positioning itself in the segment through acquisitions and development. Last November, the company acquired protein-enriched bars and snacks company thinkThin. At the time of the purchase, the Los Angeles-based bar company had net sales of $84 million and a previous three-year CAGR of 31%. Primarily distributed in the United States, the acquisition helped increase Glanbia's reach.
Despite the unfavorable exchange rate that the United Kingdom's Brexit vote has caused, Glanbia Managing Director Siobhan Talbot told the Irish Independent that its look toward acquisitive growth will continue. Talbot said that while many recent opportunities have been in the sports nutrition segment, the company is also looking at growing in its dairy and ingredients businesses.