The market is expected to generate an incremental $ opportunity of US$ 23,930.9 Mn between 2022 and 2032
Category: Food & Beverages Published Date : October 2022 ID: CVC-00356 Format: PDF Pages: 340
Sports Nutrition Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Sports Nutrition Market grew at a CAGR of 4.7% between 2017-2021 and is estimated to be US$ 37132.4 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.1% and is expected to reach a valuation of US$ 61,063.3 Mn by 2032 end.
Diet and nutrition are crucial for achieving peak performance. Products for sports nutrition can help athletes attain their maximum potential via training, recover more quickly between sessions and competitions, maintain a healthy weight, decrease their risk of injury, and perform consistently.
The market for sports nutrition is being driven by a rise in the number of health clubs, fitness centers, and gyms, as well as the expanding use of various exercise programs in these facilities, where dietitians offer advice on consuming sports nutrition.
Market Dynamic
GROWING PREFERENCE FOR HEALTHY, ACTIVE LIVING IS ONE OF THE KEY FACTORS DRIVING THE MARKET
One of the main elements influencing the industry is people’s growing preference for leading active, healthy lives. Additionally, it is anticipated that the rise would be fueled by young consumers making fitness a major aspect of their lifestyle and by consumers’ rising acceptance of protein supplements. Growth is also driven by increasing customer demand for nutritional goods with plant-based components and immunity-boosting properties.
Additionally, it is projected that manufacturers will use social media sites like YouTube and Instagram more frequently to advertise their goods, boosting demand for sports nutrition items. A study by the United Nations Conference on Trade and Development and the Netcomm Suisse eCommerce Association found a 9.0% rise in online sales of pharmaceutical and health items. This thus drives the market for nutritional supplements.
LIMITED ADOPTION OF SPORTS NUTRITION MAY RESTRICT THE MARKET GROWTH OF SPORTS NUTRITION
The market expansion of sports nutrition may be constrained by the low acceptance rate of sports nutrition due to poor public perception. A rise in product visibility brought on by manufacturers’ increased emphasis on advertising their goods at sporting events may present huge growth potential. The greatest and most advantageous medium for promoting and disseminating sports nutrition and raising awareness of different brands and products is sporting events. Therefore, the promotion of sports nutrition products by manufacturers may help to accelerate market growth.
DEMAND FOR FLAVORED HEALTHY DRINKS DRIVING SALES
Due to the shift in consumer desire for ready-made products, manufacturers have begun to produce more flavored sports nutrition food items. Because they save time, are healthier, and taste better, approximately 60% of consumers are inclined to pick flavored sports nutrition products (particularly over normal protein powders).
Additionally, industry competitors are creating tastier items to compete in the market. Products like energy bars and ready-to-drink (RTD) sports beverages are being released in flavors consumers love, like chocolate, vanilla, fruit, and others, giving traditional chocolate bars and soft drinks strong competition.
| Sports Nutrition Market |
Market Segments Covered in Report
By Product Type:
By Application:
By Formulation:
By Consumer Group:
By End-User:
By Sales Channel:
By Region and Country:
Segment-Wise Analysis
Why is Powder estimated to account for the largest market share?
In 2022, powder formulation held the biggest market share, about 40.5%. The market’s growth is supported by increased athletic events and the region’s opening of health and fitness facilities. Powdered supplements also have more stable ingredients, an extended shelf life, and are simple to take.
Additionally, folks who want to bulk up and improve their bodies drink protein powders. Innovations are being launched in this market to help athletes maintain energy levels for longer by offering concentrated nutrients compared to standard powders, such as powders that make thick shakes.
Why are Sports Supplements expected to expand the fastest during the forecast period?
Due to rising interest in fitness and health and the wide commercial availability of sports supplements on the market, sports supplements accounted for the largest market share in 2023, with a 46.3% market share.
One of the key drivers of the industry growth is an increase in gyms and fitness facilities. In the upcoming years, the industry’s growth is also projected to be boosted by the number of new product releases and continued research into novel ingredients. For instance, Science in Sports introduced a new line of sports nutrition products called Beta Fuel in July 2021. This line contains a blend of 1 part fructose and two parts maltodextrins.
Which Consumer Group is increasing in demand?
In 2022, the adult market had the highest share—more than 65.5%. This is explained by the fact that many consumers are between 18 and 64. Customers in this age range also regularly participate in sports and fitness activities, which supports category growth. Additionally, the demand for women’s sports nutrition in this age bracket is being driven by an increase in the number of working women.
Why are Fitness Enthusiasts segments expected to grow?
Due to the expanding popularity of fitness among consumers, the fitness enthusiasts category held the majority of the market share in 2022, with a revenue share of over 40.0%. A vast populace participates in various exercise activities due to the COVID-19 outbreak’s increased public awareness of the importance of living a healthy lifestyle. Additionally, pre- and post-workout nutritional supplements are more in demand among fitness enthusiasts due to studies on their advantages. The expansion of health clubs and fitness facilities has also aided industry expansion. According to a study in the Journal of the International Society of Sports Nutrition, in 2020, nutritional supplements were utilized by about 43.8% of gym users.
Region-Wise Analysis
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Competition Analysis
Among the main tactics used by top corporations to achieve a competitive edge in the market are mergers and acquisitions, partnerships, and flavor differences. The major players in the industry are heavily concentrating on R&D to expand their product line. Product releases and innovation are the market participants’ major strategies for gaining a competitive edge.
Some of the key developments that have taken place in the Sports Nutrition Market include the following:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
| Research Scope | Details |
| Forecast period | 2022-2032 |
| Historical data available for | 2017-2021 |
| Market analysis | USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032 |
| Key regions covered | North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa |
| Key countries covered | US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt |
| Key segments covered | By Product Type, Application, Formulation, Consumer Group, End-User, Sales Channel, and Region |
| Customization scope | Available upon Request |
| Pricing and purchase options | Available upon Request |