Bodybuilding Supplements Market Worth $38.12 Billion By 2031 - Exclusive Report By Coherent Market Insights

(MENAFN- PR Newswire) BURLINGAME, Calif.
, Jan. 16, 2024 /PRNewswire/ -- The
Bodybuilding Supplements Market
is projected to grow from
USD 23.31 billion
in 2023 and is estimated to reach
USD 38.12 billion
by 2031; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.% from 2024 to 2031 according to a new report by Coherent Market Insights. The key market players are focused on adopting various business development activities, such as product launches and development, which, in turn, is expected to propel the market growth over the forecast period.

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Market Dynamics :

The growth of the bodybuilding supplements market is driven by the rising awareness about health and fitness among people. With increasing health consciousness, consumers are opting for bodybuilding supplements to maintain fitness and build muscle mass. Protein supplements continue to be the most popular among gym-goers and athletes for muscle recovery and gains. Furthermore, easy availability of these supplements through online retail channels and growing millennial population are also fueling the market growth.

Bodybuilding Supplements Market Report
Scope:

Report Coverage	Details
Market Revenue in 2023	$22.31 billion
Estimated Value by 2031	$38.12 billion
Growth Rate	Poised to grow at a CAGR of 8%
Historical Data	2017–2021
Forecast Period	2024–2031
Forecast Units	Value (USD Million/Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Product Type, By Source Type, By Form, By Distribution Channel
Geographies Covered	North America, Europe, Asia Pacific, and Rest of World
Restraints & Challenges	. High pricing of supplements due to high manufacturing costs
Growth Drivers	. Growing health and fitness awareness . Easy availability through online and retail stores

The popularity of bodybuilding as a sport and fitness activity has been growing significantly over the past decade. More and more people are focusing on health, fitness and having a toned physique. They are joining gyms and following rigorous workout routines. However, achieving the desired body type through exercise and diet alone can be very challenging and time consuming. This is creating a huge demand for bodybuilding supplements that claim to help maximize muscle gains and accelerate fat loss. Products like pre-workout supplements, protein powders,
BCAAs and creatine are widely used to complement regular workout routines and diet. The growing health and wellness culture is a major driver for the consistent growth of the bodybuilding supplements market.

For instance, Roquette, a global leader in plant-based ingredients and a pioneer of plant proteins, announced the launch of two rice proteins that adds a new botanical origin to its current portfolio. With NUTRALYS rice protein, Roquette offers consumers a familiar, safe and nutritious alternative protein with premium quality and high standards of production.

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Market Key
Developments:

In September 2022, Dyet Nutrition, an India-based health supplement company, announced the expansion of its product portfolio with a new range of products, Whey Protein concentrates in chocolate and vanilla flavors and multivitamins.

In March 2022, MusclePharm Corporation, a global provider of leading sports nutrition and lifestyle branded nutritional supplements, announced the launch of ready-to-drink protein category with the product 'whey protein drink' line in the summer of 2022, which contains over 20g of protein, be sugar free and will be available in multiple flavors.

In May 2021, Unilever, a U.K.-based fast-moving consumer goods company and ENOUGH (formerly 3F BIO), a U.K.-based food tech company, announced a partnership agreement. Through this partnership, Unilever will enter into plant-based proteins segment to create meat-like tastes and textures for its wide-ranging portfolio, which is now available in fast-growing markets in 45 countries across four continents.

Market Key Takeaways:

The global bodybuilding supplements market is expected to exhibit a CAGR of 8.0% during the forecast period. Market players are adopting product launch strategies, which, in turn, is expected to fuel the market growth over the forecast period. For instance, in September 2022, Tata Consumer Products, an India-based fast-moving consumer goods company and a part of the Tata Group, an India based multinational conglomerate with products and services in over 150 countries, and operations in 100 countries across six continents announced the launch of a plant-based protein powder 'GoFit', a health supplement range for women which is a plant-based easy-to-mix product formulated with the goodness of gut-friendly probiotics.

Among product type, protein supplements is expected
to be the dominant segment in the global bodybuilding supplements market, due to the increasing launch of plant-based proteins by the market players. For instance, in March 2021, Fast&Up, an India-based health and nutrition brand, announced the launch of Plant Protein for women under its Terra range of products.

Among regions, North America is expected
to be the dominant region in the global bodybuilding supplements market. Key players focusing on product development and product launches is increasing the market growth of the region, which, in turn, is expected to drive the regional market growth over the forecast period. For instance, LÝFT, a U.S.-based health and nutrition supplement company, announced the launch of strawberry flavored Protein line, which is designed for maximum taste. It has the deep richness of milk, paired with mild sweetness, resulting in a flavor that is nostalgic and soothing. The protein supplement contains 88.83% protein content (as per anhydrous product), and it is a pre-mix product.

Major players operating in the global bodybuilding supplements market
include Glanbia plc, Abbott, GSK, Amway, Nestlé S.A., MusclePharm., BA Sports Nutrition, CSN, AMCO Proteins, DYMATIZE ENTERPRISES, LLC., CytoSport Inc., Iovate Health Sciences International Inc, RSP Nutrition, GELITA AG, Hoogwegt., Mondelez International group., QuestNutrition & WorldPantry LLC. and The Bountiful Company

Read complete market research report , "Bodybuilding Supplements Market, By Product Type, By Source Type, By Form, By Distribution Channel,:By Region, Market Size And Share Analysis - Growth Trends And Forecasts 2024-2031 ",
Published by Coherent Market Insights

Market Segmentation:

By Product Type:

• Protein Supplements
• Pre-Workout Supplements
• Creatine
• BCAA Supplements
• Fat Burners
• Multivitamins
• Others

By Source Type:

• Animal-based
• Plant-based

By Age Group:

• Millennials
• Generation Z
• Baby Boomers

By Form:

• Powder
• Capsules
• Tablets
• Liquids
• Softgels
• Others

By Distribution Channel:

• Supermarkets & Hypermarkets
• E commerce and Online Stores
• Drug stores and Pharmacies
• Others

By Region:

• North America
  • U.S.
  • Canada
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Europe
  • Germany
  • U.K.
  • Spain
  • France
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Middle East & Africa
  • South Africa
  • GCC Countries
  • Rest of Middle East & Africa

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