Sports Nutrition Market Analysis| 2023-2028

Market Insights

The sports nutrition market was estimated at USD 47.02 billion in 2023 and is likely to grow at a CAGR of 8.7% during 2023-2028 to reach USD 71.36 billion in 2028.

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Market Dynamics

Introduction

The sports nutrition market encompasses various products designed to optimize athletic performance, enhance recovery, and support overall health and fitness goals for athletes and active individuals. This market has experienced significant growth over the past few decades, driven by increasing health awareness, rising disposable incomes, growing interest in fitness and sports activities, and advancements in nutrition science and technology.

Market Drivers 

• Increasing Obesity Rates: Obesity rates have surged globally, with 39.0% of adults affected and projections of 1 billion by 2030. Factors like sedentary lifestyles and unhealthy diets contribute to this. Surging rates have raised concern and awareness about healthy lifestyles and nutritious dietary choices, driving the market for sports nutrition.
• Surge in Buying Pharmaceutical and Health Products Online: A survey by the UN Conference on Trade and Development and Netcomm Suisse eCommerce Association shows a 9.0% rise in online purchases of pharmaceutical and health products, accelerating sports nutrition market growth.
• Increasing Popularity among Youngsters: Younger consumers' growing preference for fitness and acceptance of protein supplements are expected to drive market growth. The demand for plant-based nutritional products with immunity-boosting benefits is also contributing to this growth.
• Increasing use of Social Media among Manufacturers: Manufacturers' increasing use of social media platforms like YouTube and Instagram is expected to increase the demand for sports nutrition products.

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Key Players

The following are the key players in the sports nutrition market:

• Abbott Laboratories Inc.
• Bulk Powders
• Glanbia PLC
• Clif Bar & Company
• GNC Holdings Inc.
• Multipower.
• MusclePharm Corporation
• PepsiCo Inc.
• The Coca-Cola Company

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Product Type

"The sports supplement segment held the largest share of >45% in 2022" 

The sports nutrition market is segmented as food, drinks, and supplements. The sports supplement segment held the largest share in 2022 and is expected to maintain its vanguard over the forecast period owing to the rising regularized usage of sports nutrition supplements among sportspersons.A rapid upsurge in sports nutrition market preference for personalized nutrition is boosting segmental growth.

By Distribution Channel Type

"The online store’s segment is expected to expand with the fastest CAGR"

The sports nutrition market is segmented as supermarkets/hypermarkets, convenience stores, specialty stores, online stores, and other distribution channels. ?The online store’s segment is expected to expand with the fastest CAGR over the forecast period owing to rising customer preference for e-commerce websites coupled with the availability of the widest variety of sports nutrition with global reach.

Regional Analysis

"North America is estimated to contribute >45% market share in 2022" 

North America is estimated to contribute >45% market share in 2022 and is expected to grow with a lucrative CAGR due to the region's high awareness of health and fitness and the high adoption of advanced nutrition. The presence of dominant market players and the rising popularity of the sports nutrition market among recreational and lifestyle users along with sportspersons will augment the regional growth over the foreseeable future.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s sports nutrition market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The sports nutrition market is segmented into the following categories:

By Product Type 

• Sports Food
• Sports Drinks
• Sports supplements

By Distribution Channel Type 

• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Stores
• Other Distribution Channels

By Region 

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

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Report Customization Options

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current sports nutrition market segmentation of any one of the product types by distribution channel type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

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