(MENAFN- Straits Research) Sports nutrition is studying and implementing a diet or regimen to enhance athletic performance. Delivering the correct kind and quantity of food (protein, carbohydrates, fats, fiber, etc.), water, and nutrients to maximize energy and aid in sports recovery will result in your best performance. It is particularly prevalent in activities that require strength and endurance. Whether someone exercises to maintain or improve their physical and mental health, if they are a professional athlete in training, or for any other reason, sports nutrition is essential to maximizing the health advantages of physical activity.
Market Dynamics
Surge in Health Consciousness and Growing Awareness Drives the Global Market
The increased inclination for a healthy, active lifestyle is one of the primary elements influencing the industry. The rising popularity of yoga, meditation, and exercise largely influences people's desire to lead active lives. Increasing demand for the ideal figure, particularly among younger people, is projected to fuel market growth. Regarding illness or disease, consumers prefer preventative actions over therapeutic ones. In addition, the market is rising because of the increased recognition of the value of sports nutrition in preserving health and leading an active lifestyle.
Clean Label and Vegan Options Creates Tremendous Opportunities
The desire for clean-label products and the popularity of plant-based diets present significant growth opportunities for the sports nutrition market. Customers prefer natural, minimally processed, and sustainably sourced meals. One can tap into this growing market niche by developing plant-based sports nutrition products that offer essential nutrients and appeal to vegan and vegetarian consumers. In response to the increased demand for veganism, several businesses in the sports nutrition sector are releasing plant-based variations of their sports protein bars, powders, and Ready-to-Drink (RTD) drinks. According to the Vegan Society, there have been 600% more vegans in the US during the last three years. More athletes and fitness enthusiasts are choosing vegan options in the sports nutrition industry to enhance their performance and recovery, which is expected to help the market grow over the forecast period.
Regional Analysis
North America is the most significant global sports nutrition market shareholder and is estimated to grow at a CAGR of 10.6% during the forecast period. The increasing number of sports supplement product launches, which implies a high demand for these products in the next years, and the local presence of top market players are other major factors projected to fuel market progress. Expanding government initiatives supporting sporting events is another significant factor promoting these things. For instance, the President's Council on Sports, Fitness, and Nutrition supports programs and activities that increase interest in sports among the general public. In addition, enhancements in related industries also contribute to the economy's expansion. For instance, PeptAIde, a sports nutrition supplement with artificial intelligence identification composed of a unique assortment of plant-based peptides that aid in managing inflammation, was introduced by BASF in November 2018. Similarly, Hotshot, a sports injectable with scientific support that aids both endurance and non-endurance athletes in avoiding cramping and pain, was introduced by Flex Pharma, Inc. in June 2016.
Europe is estimated to exhibit a CAGR of 12.1% over the forecast period. This is connected to the general public's growing awareness of healthy lifestyles. New product introductions and increased marketing and promotional activities by manufacturers are further factors anticipated to support the growth of the sports nutrition market over the forecast period. An increase in athletes in Europe and a strong demand for supplements are expected to boost the market growth. In addition, many companies in this region also sell sports supplements online. In the past, only athletes would use these items. In recent years, many European people have started taking sports supplements to maintain a healthy lifestyle and manage weight.
Key Highlights
The global sports nutrition market was valued at USD 42.9 billion in 2022. It is estimated to reach USD 81.8 billion
by 2031, growing at a CAGR of 7.4% during the forecast period (2023–2031).
Based on product type, the global sports nutrition market is bifurcated into supplements, drinks, and foods.
The sports supplement segment dominates the global market and is expected to grow at a CAGR of 9.2% over the forecast period.
Based on the distribution channel segment, the global sports nutrition market is bifurcated into e-commerce and bricks and mortar.
The bricks and mortar owns the highest market share and is estimated to grow at a CAGR of 10% over the forecast period.
Based on the application segment, the global sports nutrition market is bifurcated into pre-and post-workout. The post-workout category held the largest market share.
North America is the most significant global sports nutrition market shareholder and is estimated to grow at a CAGR of 10.6% during the forecast period.
Competitive Players
The major players in the global sports nutrition market are Glanbia Plc, Hormel Foods Corporation, GNC, Abbott, Iovate Health Sciences International Inc, POST HOLDINGS INC., COCA-COLA COMPANY, Stokely-Van Camp, Inc, Clif Bar & Company, MUSCLEPHARM, and Nature's Bounty.
Market News
In December 2022, Mars, Inc. introduced a new performance nutrition bar for consumers looking for a sweet protein substitute. The Snickers Hi Protein bar will debut at a few retailers in January 2023 and will include 20 grams of protein per bar in addition to the classic Snickers flavor and components.
In March 2023, Co-owners of Ready Athletes, one of the fastest-growing sports nutrition companies in America, Aaron Donald and Giannis Antetokounmpo, announced the release of a lighter version of its advanced and scientifically based Ready Sports Drink line of performance products. These products are intended to maximize hydration replenishment and energy production.
Global Sports Nutrition Market: Segmentation
By
Product Type
Supplements
Drinks
Foods
By Applications
Pre-Workout
Post-Workout
By Distribution Channel
E-Commerce
Bricks and Mortar
By Regions
North America
Europe
Asia-Pacific
Latin America
The Middle East and Africa
MENAFN01032024004597010339ID1107922813
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.