USD 6.01 Billion
Report ID: SQSG30I2039 | Region: Global | Published Date: December, 2022 | Pages: 157
Global Sports Nutrition Market was valued at USD 6.01 Billion in 2021, and it is expected to reach a value of USD 11.6 Billion by 2028, at a CAGR of 10.6% over the forecast period (2022 - 2028). In terms of volume, the market is projected to reach 0.4 million tons in 2028 at a CAGR of 9.5%.
Sports nutrition product use is fast expanding among fitness enthusiasts and active lifestyle consumers. Consumers are using these products to build energy and muscle, as well as to aid in weight loss. Furthermore, the prevalence of lifestyle disorders like obesity is increasing. Millennials and older adults are increasing their need for sports nutrition formulas to increase energy, strength, and muscular health. Supplements are also becoming more popular among gym-goers. Furthermore, increased engagement in sports activities and events is increasing fitness lovers' use of supplements to improve endurance, strength, and stamina.
Nutrition and nutrition are critical for peak performance. Sports nutrition solutions provide advantages such as enhanced recuperation between workouts and events, maintenance and attainment of healthy body weight, reduced injury risk, and performance consistency. A key factor driving the market is athletes' use of sports nutrition supplements due to their benefits.
Sports supplement sales have decreased because of the COVID-19 epidemic, as customers have been preoccupied on purchasing necessary commodities. Furthermore, the temporary closure of gyms, fitness centres, health clubs, and sports institutes had a detrimental influence on sports nutrition product sales. However, thanks to COVID-19, online sales surged fast in 2020 as people turned to e-commerce to avoid congested venues and preserve hygiene. Soon, it is expected that increased awareness of health and a healthy lifestyle would boost demand for sports nutrition.
Global Market Size
USD 6.01 Billion
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Global Sports Nutrition Market is segmented based on Type and Region. Based on the Type, the Global Sports Nutrition Market are segmented as Vitamins, Minerals, Carotenoids, Probiotics, Proteins, Amino Acids, Carbohydrates, Fats & Fatty Acid, Lipids, Enzymes, and Others. Based on Application the market is segmented into Pre-workout, Post-workout, Weight Loss, and Others. In terms of formulations, the market includes Tablets, Capsules, Powder, Soft gels, liquids, and Gummies. By Consumer Group, the market is segmented into Children, Adult, and Geriatric. By Sales Channel, the market is segmented into Brick And Mortar and E-commerce. Based on Region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Type
In terms of type, probiotics dominated the global sports nutrition market in 2021. Probiotics may help athletes cope with the demands of high levels of physical exercise by improving intestinal barrier function, immunological function, antioxidant defences, energy harvest, and other possible advantages. These effects can raise the tolerated training load, as well as the benefits and competition performance. Probiotic single and multistrain cocktails from the genera Lactobacillus and Bifidobacterium have been shown to reduce upper respiratory tract symptoms and gastrointestinal tract symptoms during high-level training.
Athletes, despite their typically healthy look, may suffer from a variety of stomach disorders. According to research, 30% to 50% of athletes and up to 93% of long-distance triathletes suffer from gastrointestinal issues. These problems might arise before, during, or after a workout or competition. Electrolyte imbalance, sleep disruption, and dehydration can all be caused by gastrointestinal disorders, which can hinder performance or recuperation. Furthermore, in a recent study of ultra-marathon runners, 89% reported nausea, 44% reported stomach cramps, and 44% reported diarrhoea.
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North America led the market in 2021, accounting for a substantial revenue share of more than 20%. This is due to increased demand from the United States. High supplement uptake and greater health and wellness awareness are expected to drive market expansion. Furthermore, the existence of many competitors, as well as the diverse strategies employed by these firms, will drive market expansion soon. Europe is expected to grow at a rapid pace throughout the predicted period. Increasing sports participation and expanding governmental and private sector activities are driving market expansion.
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The industry's primary leading companies control the worldwide Sports nutrition market due to their extensive global reach and trustworthy dispersed systems. To compete, these companies employ a variety of business strategies, such as establishing long-term supply agreements with several distribution channels. Due to the availability of a target consumer base in the area, major firms have increasingly focused on entering Southeast Asian markets in recent years.
The sports nutrition industry is very competitive, with several foreign and domestic competitors present. The global market's behemoths are increasingly depending on product innovation as their primary approach. Extensive R&D investments have occurred in recent years, resulting in the introduction of various new goods to the market. Furthermore, the players are heavily working on supplying consumers with novel solutions that also provide functional benefits.
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According to our Global Our Market Analysis, During the lockdown, as many consumers migrated to e-commerce to purchase sports nutrition goods, it became apparent than how essential social media is to the industry. Social media is being used by consumers to learn more about sports nutrition products and businesses, as well as suggestions from influencers. Direct-to-consumer sports nutrition firms are also finding that social media is an efficient tool to locate and interact with their target consumers.
|Market size value in 2021||USD 6.01 Billion|
|Market size value in 2028||USD 11.6 Billion|
|Forecast period||2022 - 2028|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Sports Nutrition Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Sports Nutrition Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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