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Sports Nutrition Market Report
Unleashing the Power of Sports Nutrition Sports Nutrition Market is expected to witness significant growth due to increasing health consciousness, rising demand for protein supplements, and growing participation in sports activities”
- SNS Insider ResearchAUSTIN, TX, UNITED STATES, February 13, 2024 /EINPresswire / -- The Sports Nutrition Market rising awareness of the importance of nutrition in achieving fitness goals and overall well-being is contributing to the growing demand for sports nutrition products. Consumers are becoming more conscious of the role nutrition plays in optimizing performance, aiding recovery, and supporting various aspects of health, including muscle development, weight management, and energy levels.
The sports nutrition market has witnessed significant growth in recent years, driven by the increasing awareness among individuals about the importance of maintaining a healthy and active lifestyle. As more people engage in various sports activities and fitness regimes, the demand for specialized nutrition products has surged.
The SNS Insider report indicates that the Sports Nutrition Market was valued at USD 41.85 billion in 2022, and it is projected to achieve a market size of USD 88.42 billion by 2030, with a compound annual growth rate (CAGR) of 9.8% expected over the forecast period from 2023 to 2030.
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Market Report Scope –
A major factor behind the growth of the sports nutrition market is an increasing demand for sustainably and hygienically labelled products. Desire for the transparency of the products' ingredients has led to a growing preference for sports nutrition options, which are compatible with sustainability practices and features clean labels. Manufacturers are forced to produce products that meet both performance as well as ethics and environmental standards, in view of this shift considerations.
Some of the major key players studied in this report are:
Iovate Health Sciences, Abbott, Quest Nutrition, PepsiCo, Cliff Bar, The Coca-Cola Company, MusclePharm, The Bountiful Company, Post Holdings, BA Sports Nutrition, Cardiff Sports Nutrition
Market Growth Factors –
The growth of the sports nutrition market is expected to be stimulated by increasing consumer interest in sport nutrition, including athletes, bodybuilders and nonathletes who seek health lifestyle. The market growth of sports nutrition is expected to accelerate over the forecast period, driven by lifestyle users that are consuming sport nutrition products in order to meet their day's dietary requirements and not for exercise.
Segmentation Analysis –
In view of growing awareness about health and fitness, as well as the high commercial availability of sports supplements in the market, the supplement segment accounted for a 39.4% revenue share by 2023. Another important factor contributing to the growth of this segment is the increase in the number of gyms and fitness centres. Moreover, industry growth is expected to increase in the coming years due to an increasing number of new product launches and continuing research on emerging ingredients.
The powder segment accounted for the largest market share in 2023 according to its formulation. It is due to the increasing number of sports events in this region, as well as a proliferation of health and fitness centres which contribute to market growth. In addition, powder supplements are preferred for their ease of use, high stability ingredients and longer shelf lives. Moreover, a significant proportion of protein is consumed by adults focused on muscle building and physique enhancement.
Impact of Covid-19 :
. The impact of Covid-19 on the sports nutrition market has been significant and multifaceted. With the outbreak of the pandemic, various restrictions and lockdown measures were implemented worldwide, leading to the closure of gyms, fitness centers, and sporting events. This sudden halt in physical activities directly affected the demand for sports nutrition products.
. One immediate consequence was a decline in sales as consumers shifted their priorities towards essential items and focused on health and safety concerns. The closure of gyms also meant that individuals had limited access to fitness facilities, resulting in reduced demand for supplements and protein-based products typically associated with intense workouts.
. However, as people adapted to the new normal and sought alternative ways to maintain their fitness routines at home, there was a gradual recovery in the sports nutrition market. Many individuals turned to online platforms for workout tutorials, virtual training sessions, and home exercise equipment. This shift towards home-based fitness activities created opportunities for companies to promote their sports nutrition products through digital channels.
Key Regional Development –
In 2022, the European sports nutrition market is expected to reach USD 20.97 billion, with a potential for significant growth. Growth in the compound annual growth rate during the study period, which increased the number of visitors to gyms and fitness centers in the region, The growing demand for supplements to improve physical health, and the growing number of diseases, can partly be attributed to this. Club postVIDCO-19 pandemic health issues and related health concerns, and the need to improve and maintain good health regimens. As a result of the increasing number of individuals and groups taking part in sports activities, as well as an increase in competition sport events and leagues, North America's sports nutrition market is also one of the top markets. The existence of significant sports leagues in the region, such as the National Football League NFL, Major League Soccer, is one example. Major League Baseball and National Hockey League MLB.
As an energy source, fatty acids from fat can be used particularly if the exercise is longer than one hour. In addition, fats are a building block for hormone production and cell membranes. As a consequence, the consumption of sports nutrition products by consumers is increasing due to improved health awareness and an increase in their disposable income. Consequently, the growth rate of the sports nutrition market is growing. Indulgence in the purchase of goods and knowledge about products.
Recent Developments -
February 2022: The latest EVERx CBD Sports Nutrition Beverage has been announced by North American Cannabis Holdings. It was launched in Columbus, Ohio, at the Arnold Sports Festival of March 4-6, 2022. The EVERx has been modified by USMJ. formula and packaging and will now compete in the Arnold Classic among 20,000 competitors from 80 nations in 60 sports and events.
Sports Nutrition Market Opportunity: Expanding and Evolving
. The sports nutrition market presents a significant opportunity for growth and development. With the increasing popularity of sports and fitness activities, there is a growing demand for products that can enhance athletic performance, aid in recovery, and support overall well-being.
. One of the key factors driving this market opportunity is the rising awareness among individuals about the importance of maintaining a healthy lifestyle. People are becoming more conscious about their dietary choices and are actively seeking products that can help them achieve their fitness goals. This shift in consumer behavior has created a lucrative market for sports nutrition products.
. Furthermore, advancements in scientific research have led to the development of innovative ingredients and formulations that cater specifically to athletes' nutritional needs. These products not only provide essential nutrients but also offer targeted benefits such as improved endurance, muscle recovery, and enhanced strength.
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Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
18.104.22.168 United Kingdom
22.214.171.124 South Korea
126.96.36.199 Rest of the World
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Sports Nutrition Market Segmentation on the basis of Flavor
8.1 Regular Sports Nutrition Supplements
8.2 Flavored Sports Nutrition Supplements
8.3 Fruit Punch
8.8 Other Flavors
9. Sports Nutrition Market Segmentation on the basis of Function
9.1 Energizing Products
9.5 Weight Management
10. Sports Nutrition Market Segmentation on the basis of Product Form
10.1 Ready-to-Drink Sports Supplements
10.2 Energy & Protein Bars
10.3 Powder Sports Supplements
10.4 Sports Supplement Tablets/Capsules
11. Sports Nutrition Market Segmentation on the basis of Sales Channel
11.1 Modern Trade
11.2 Convenience Stores
11.3 Specialty Stores
11.4 Pharmacy Stores
11.5 Online Retail
11.6 Other Sales Channels
12. Sports Nutrition Market Segmentation on the basis of Nature
12.1 Organic Sports Nutrition Supplements
12.2 Conventional Sports Nutrition Supplements
13. Sports Nutrition Market Segmentation on the basis of Price Range
13.1 Economic Sports Nutrition Products
13.2 Premium Sports Nutrition Products
14. Sports Nutrition Market Segmentation on the basis of Flavor
14.1 Regular Sports Nutrition Supplements
14.2 Flavoured Sports Nutrition Supplements
14.3 Fruit Punch
14.8 Other Flavours
15. Regional Analysis
15.2 North America
15.3.6 The Netherlands
15.3.7 Rest of Europe
15.4.2 South Korea
15.4.6 Rest of Asia-Pacific
15.5 The Middle East & Africa
15.5.3 South Africa
15.6 Latin America
15.6.3 Rest of Latin America
16. Company Profiles
16.1.2 Products/ Services Offered
16.1.3 SWOT Analysis
16.1.4 The SNS view
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