At 4.8% CAGR, Global Sports Nutrition Market Size To Hit USD...| MENAFN.COM

Sunday, 29 January 2023 12:23 GMT

At 4.8% CAGR, Global Sports Nutrition Market Size To Hit USD 23.8 Billion By 2030 Astute Analytica


(MENAFN- EIN Presswire)

CHICAGO, UNITED STATES, December 1, 2022 /einpresswire.com / -- The global sports nutrition market was valued at US$ 15.7 Billion in 2021 and is anticipated to reach US$ 23.8 Billion by 2030, growing at a CAGR of 4.8% from 2022 to 2030.

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Sports nutrition is the meals and beverages that athletes take to fulfill their physical nutritional needs. Sports nutrition products are made using a wide range of organic ingredients, including milk, egg proteins, sugars, vegetable starches, vitamins, fibers, minerals, and herbs. By providing the body with the essential minerals, vitamins, carbohydrates, fats, and proteins it requires, sports nutrition also enhances athletes' performance.

Factors Affecting Market Growth

Drivers:

Bodybuilders and even those interested in general fitness consume sports nutrition products to stay in shape and fulfill their daily protein needs. Protein- and other nutrient-rich diets have been the main focus of bodybuilders and other fitness enthusiasts. According to a study in the Journal of the International Society of Sports Nutrition, in 2020, about 43.8% of gym users used nutritional supplements. The trend is quickly shifting, though, as people become more conscious of the need of eating a varied diet that provides the body with all of its necessary nutrients and improves overall health, cardiovascular health, and respiratory health. These factors are likely to increase the demand for sports nutrition products in the near future.

Restraints:

The accessibility of several counterfeit supplements may slow down the overall industry growth. It may be challenging for consumers to find the difference between genuine supplements and imitations due to the diversity of supplements available on the market. Both bogus and authentic supplements are widely available due to the tremendous demand for and popularity of the product. However, the industry for alternative supplements has grown by the rising desire for less expensive supplements.

Trend:

Plant-based diets are anticipated to be major trends in the near future in both the food and health sectors as businesses prioritize fruits, vegetables, nuts, seeds, grains, and botanicals in the pursuit of healthy living. For instance, in November 2018, BASF introduced an artificial intelligence-identified sports nutrition ingredient called PeptAIde, which is composed of a special group of plant-based peptides that aid in controlling inflammation. The market for vegan cuisine is expanding because a growing number of people worldwide are attempting to eat low meat. Vegans and non-vegans alike aim to replace animal-based diets with vegan ones. One reason for the surge in veganism is its possible advantages for health, animal welfare, weight loss, the environment, and the overuse of antibiotics.

Impact Analysis of COVID-19

Several governments globally enacted lockdowns in order to prevent the virus from spreading. This forced the closure of swimming pools, athletic facilities, physiotherapy clinics, parks, fitness studios, and playgrounds. In addition, the majority of the raw materials used to manufacture nutritional supplements in the U.S. come from China. Due to the pandemic's impact on the supply chain and the worsening of US-China trade ties, several firms turned to increase local ingredient sourcing.

The COVID-19 pandemic led the FDA to drastically cut back on the number of inspections of facilities that manufacture dietary supplements in March 2020. Even once inspections start at the end of July 2020, local laws and virus data will likely continue to influence how they occur. A lack of quality inspections can make consumers less likely to trust supplements, which might have an adverse effect on market expansion.

Segmentation Summary

In 2021, on the basis of product type, the protein powder segment acquired a share of 24% in the global market. Protein powders provide the building blocks for healthy muscles and tissues and aid in weight management, tissue repair, enzyme production, immune system enhancement, and the maintenance of normal cholesterol levels. In the protein ready-to-drink (RTD) market, beverages with a high protein content are very popular.

There are an increasing variety of high-protein options available on the market as a result of companies learning how to incorporate protein in several popular sports foods and snacks. This has helped the global market for sports nutrition. Over the projected period, the category for vegan supplements will have the highest annual growth rate. This is due to the rising popularity and demand for vegan and vegetarian proteins.

In 2021, in terms of application, the post-workout category segment had a maximum revenue share of 50% in the global industry. Post-workout supplements have advantages that improve muscle growth, repair, and mass maintenance. The demand for post-workout supplements is rising over the projected period due to their many advantages and growing consumer awareness of the health benefits of these sports nutrition.

In 2021, on the basis of end-user, the athlete sector segment dominated the sports nutrition industry and will grow at a CAGR of 5.6% over the projection period. Protein-rich products help athletes create new muscles and retain lean muscle mass while minerals, electrolytes, carbs, and other nutrients help the body keep hydrated and give energy and nourishment. Athletes also combine a variety of sports nutrition products to get the greatest outcomes and effectively supplement their nutritional demands during demanding workouts and physical activities.

In 2021, in terms of distribution channels, the offline distribution channel segment acquired a revenue share of 60.9% in the industry. A wide range of products is available in offline outlets like specialist shops, small retail stores, supermarkets, gyms, and everyday cheap merchants. In order to keep current customers and draw in new ones, offline shops also provide member incentives and customer loyalty programs. On the other hand, the online sale segment increased owing to the outbreak of the COVID-19 pandemic and related lockdowns.

Additionally, online retailers like Walmart and Amazon are entering the fast-growing sports nutrition market. One of the main factors encouraging the use of online channels for the purchase of sports nutrition products is reduced prices on a wide array of supplements, which has led to an increase in self-directed purchasing.

Regional Analysis

In 2021, North America had a leading position in the global sports nutrition market and accounted for a revenue of approx 40%. This is due to the increased usage of sports supplements and rising health and wellness understanding. In addition, the existence of many firms and different techniques utilized by these companies in the region drive the market. Additionally, the increasing initiatives by the government and private sectors and a surge in sports participation boost regional market growth.

However, the Asia Pacific region will grow at the highest CAGR in the upcoming years. This is due to the rising popularity of sports nutrition products as an alternative to conventional food to satisfy hunger and provide nutrients after exercise or sports, owing to the transforming lifestyles of people in the APAC region.

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Leading Competitors

The prominent companies operating in the global sports nutrition market are:
Abbott Laboratories
Cardiff
BA Sports Nutrition
Glanbia PLC
BioTech USA Kft.
Powerbar
Clif Bar & Company
GNC Holdings, LLC
Iovate Health Sciences International
Multipower
Lonza Capsules & Health Ingredients
Other Prominent Players

Key Developments by these Players

In Nov 2021, CLIF, a nutrition food, and natural energy maker partnered with five of its sponsored athletes to support firms that assist communities after natural disasters such as COVID-19 in order to make it easier for more people to get active, get outside, and promote the protection of their favorite recreation areas.

In May 2022, Glanbia Nutritionals declared the purchase of Sterling Technology, a producer of dairy bioactive products derived from colostrum from cows. According to Glanbia's CEO, the acquisition broadens the company's selection of bioactive solutions, allowing it to meet the needs and professional goals of its customers.

In May 2022, GNC, a worldwide specialty health retailer made Rocket Pop, a pre-workout energy drink. The energy drink is presently available in its best-selling product formulations and provides a wellness-focused alternative to America's favorite summer delight.

In Dec 2020, Abbott introduced a new version of Pedialyte called Pedialyte formulation, which was specially prepared with nutrients necessary to keep the immune system healthy. Customers looking for essential immune-supporting components in their hydration beverages were the target market for the product.

Segmentation Overview

The global sports nutrition market segmentation focuses on Product Type, Application, End-User, Distribution Channel, and Region.
By Product Type
Protein Powder
Sport Drinks
Protein Bars
Supplements
Vegan
Creatine
Performance Enhancers
Others

By Application
Pre-workout
Post-workout

By End-User
Athletes
Bodybuilders
Fitness Enthusiast
Weightlifters

By Distribution Channel
Online
oeMarketplaces
oOnline Brand Stores
Offline
oSupermarkets/ Hypermarkets
oSpecialty Stores
oFitness Centers

By Region
North America
U.S.
Canada
Mexico

Europe
UK
Germany
France
Italy
Spain
Poland
Russia

Asia Pacific
China
Taiwan
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific

Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA

South America
Brazil
Argentina
Rest of South America

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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

Aamir Beg
Astute Analytica
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