Global Sports Nutrition Market To Triple In Value, Reaching $63.09 Billion By 2034 Amid Rising Fitness Trends – Fact.MR Report

(MENAFN- GlobeNewsWire - Nasdaq) Sports Nutrition market Expanding: Demand for Specialized Supplements for Endurance athletes to Drive Growth, Says Fact.MR Analyst

Rockville, MD, Sept. 10, 2024 (GLOBE NEWSWIRE) -- As per an updated research study published by Fact.MR, a market research and competitive intelligence provider, the global sports nutrition market is analyzed to be worth US$ 25.23 billion in 2024 and is projected to rise at a noteworthy CAGR of 9.6% from 2024 to 2034. Demand for sports nutrition increasing globally because endurance sports including triathlons, marathons, and cycling contests are becoming more popular.

Athletes participate in several physical activities require specific nutrients to perform at their best, sustain energy levels, and accelerate recovery. The need for specialized nourishment, such as energy gels, electrolyte drinks, and protein supplements, is rising as these athletes search for ways to maintain their rigorous training and competition schedules, is positively affecting the market expansion.

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North America is evaluated to possess a leading position over the next ten years due to the growing popularity of athleticism, especially among young people. Protein supplements, endurance nutrition products, low-calorie sports drinks, and bodybuilding supplements are becoming more widely available through supermarkets, hypermarkets, e-Commerce platforms, and other channels. This is further leading to the expanding market size in East Asia.

Key Takeaways from Sports Nutrition Market Analysis

• The global sports nutrition market is forecasted to reach a value of US$ 63.09 billion by 2034-end.
• Sales of regular sports nutrition supplements are analyzed to reach US$ 39.68 billion by 2034.
• North America is estimated to hold 23.9% share of the worldwide market in 2024.
• The market size of sports nutrition in the United States is analyzed to touch 6.99 billion by the end of 2034.
• Demand for sports nutrition in Japan is estimated at US$ 1.63 billion in 2024 and is forecasted to reach US$ 4.28 billion by 2034.
• Sales of sports nutrition in East Asia are evaluated to rise at a CAGR of 9.9% through 2034.
• Based on price range, economic sports nutrition products are projected to account for 74.3% market share in 2024.

“Prominent companies in sports nutrition are focusing on broadening the scope of their business and research to accelerate product introductions and increase overall profitability,” reports a Fact.MR analyst

High Preference for Regular Sports Nutrition Supplements

Regular sports nutrition products prioritize functional benefits above sensory qualities, because of this they are more in demand compared to flavored ones. Common sports nutrition products that are well-known for enhancing performance, promoting muscle recovery, and enhancing overall health include protein powders, amino acids, and recovery supplements.

Several professional athletes and fitness-passionate people are using these products extensively because they meet specialized nutritional needs more than other sports nutrition products.

Key Market Players Driving the Sports Nutrition Industry

The leading companies in the sports nutrition industry involve Abbott; Cliff Bar; Post Holdings; Cardiff Sports Nutrition; Iovate Health Sciences; The Bountiful Company; BA Sports Nutrition; Quest Nutrition; The Coca-Cola Company; MusclePharm; Jacked Factory; Glanbia PLC; Spacemilk; HealthKart; Steadfast Nutrition; Gorilla Mind; Vitacost.

The report analyzes the above in depth and focuses on the growth of this industry.

Industry News in the Sports Nutrition Market

Key players in the sports nutrition market are ramping up efforts to accelerate product launches and boost revenue. They are investing in research, expanding their business scope, and raising new capital for future growth. For example, in June 2024, launched a new sports-focused section featuring NSF Certified for Sport and Informed Sports supplements. Additionally, Gorilla Mind expanded its partnership with GNC to introduce new performance nutrition products.

Other notable moves include Steadfast Nutrition's November 2023 launch of HerbFast in India, aimed at meeting local protein needs and capturing a larger market share. HealthKart raised $135 million in December 2022 to scale its D2C brands and expand its product reach.

Also, Spacemilk signed a $3 million deal with NextFerm Technologies in August 2022 for a non-GMO protein alternative, showcasing the industry's ongoing innovation and investment.

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More Valuable Insights on Offer

The study divulges essential insights into the market based on ingredient (plant-derived protein [soy protein, rice protein, pea protein, potato protein], animal-derived protein [creatine, milk protein, whey protein concentrates, whey protein isolates, casein, BCAA], blends), function (energizing products, rehydration, pre-workout, recovery, weight management), product form (ready-to-drink sports supplements, energy & protein bars, powder sports supplements, sports supplement tablets/capsules), flavor (regular, flavored [Fruit Punch, Berries, Citrus, Chocolate, Vanilla]), nature (organic, conventional), price range (economic, premium), and sales Channel (B2B Sales, B2C Sales [hypermarkets/supermarkets, convenience stores, specialty stores, drug stores, online retail stores]), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).

Discover Additional Market Insights from Fact.MR Research

The Sports Nutrition Ingredient Market projects the global sales to rise at a CAGR of 10% from 2024 to 2034. Alongside fruits, vegetables, and animal products, protein supplements such as whey protein have become especially popular among athletes and gym enthusiasts as an efficient and effective energy source.

The global Performance Nutrition Market is expected to surpass a market value of US$ 72.1 billion by 2033, up from US$ 36 billion in 2023. Physical fitness is becoming more popular among millennials and Gen-Z in the U.S., leading to a 40% rise in gyms and training centers over the past five years. As more Americans take part in intense workouts and extreme physical activities, their reliance on performance nutrition to reach their fitness goals has also grown.

The Global Nutraceutical Supplements Market was valued at US$ 87.41 billion in 2022 and is expected to grow significantly, with a projected CAGR of 7.9% , reaching US$ 201.75 billion by the end of 2033. In the United States, sales of nutraceutical supplements are anticipated to grow with the market forecasted to reach US$ 48.82 billion by 2033.

The global Sports Hydration Market Demand is expected to reach a valuation of US$ 5.3 Billion by 2033. Sports hydration in fluid form is expected to generate significant revenue in the market, projected to grow at a CAGR of over 5% from 2023 to 2033.

As of 2023, the global Protein Supplements Market is valued at US$ 22.3 billion and is projected to nearly double, reaching US$ 41.1 billion by 2033, with a CAGR of 6.3% over the next decade. Protein supplements have become immensely popular among fitness enthusiasts and gym-goers due to their numerous benefits, including weight management, improved heart health, elevated energy levels, enhanced metabolism, and robust muscle growth.

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