Sports Nutrition Market
The sports nutrition market is expected to reach US$ 82.3 Bn by 2028 from US$ 42.3 Bn in 2020, at a CAGR of 8.7% during the forecast period of 2020 to 2028
Meridian Market Consultants (MMC) has published a new report titled, “Sports Nutrition Market: Opportunity Analysis and Future Assessment 2020-2028”
Global Sports Nutrition Market, By Product Type (Protein Powder, Iso Drink Powder, Capsule/Tablets, Supplement Powder, RTD Protein Drinks, Iso & Other Sports Drinks, Carbohydrate Drinks, Protein Bars, Carbohydrate/Energy Bars, and Other Supplements), By End User (Athletes, Bodybuilders, Recreational Users, and Lifestyle Users), By Distribution Channel (Large Retail & Mass Merchandisers, Small Retail, Drug & Specialty Stores, and Fitness Institutions), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The sports nutrition market is expected to reach US$ 82.3 Bn by 2028 from US$ 42.3 Bn in 2020, at a CAGR of 8.7% during the forecast period of 2020 to 2028.
Sports nutrition is an interdisciplinary field that emphasizes the science and application of proper nutrition during exercise. Some of the advantages of sports nutrition are it enables the athlete to train longer and harder, delays the onset of fatigue, focuses on enhancing performance, encourages optimal recovery and adaptation to intense workouts.
The sports nutrition market is expected to have a steady growth during the forecast years prominently accounting for the increasing count of health clubs and fitness clubs across the globe. Besides, the rapid urbanization and expanding retail channels across the globe are also influencing the market growth in a positive direction.
In addition, the rising adoption of healthy lifestyles among consumers coupled with the robust demand for protein supplements, energy drinks, and nutrition bars are also responsible for expanding the sports nutrition market size globally. Also, the rising awareness about risk associated with serious illness in the COVID-19 era for the patients suffering from obesity, diabetes, and heart diseases encouraged people to implement a healthy lifestyle, which in turn, fueled the market growth in an upward direction.
On the other hand, lack of brand awareness and the availability of cheap counterfeit products with food safety issues are likely to hamper the demand for sports nutrition in the next five years. Also, the adulteration of nutrition products with steroids is a major concern obstructing the demand and negatively impacting the market size. Furthermore, factors such as increasing demand for sports nutrition from emerging nations coupled with the expanding distribution channels globally are likely to offer profitable business growth opportunities in the near future.
Based on product type, the Iso drinks are expected to have the majority of market shares, owing to the marketing tactics promoting the sale of the product along with the focus on innovating new products. Athletes and bodybuilders are dominating the end-user segment, accounting for the increasing health awareness. Regionally, North America dominates in terms of both market share and revenue, majorly owing to the easy availability of sports nutrition products in this region.
MMC Study identifies some of the key participating players in the sports nutrition market globally are The Coca-Cola Company, Abbott Nutrition Inc., PepsiCo Inc., Glanbia Plc., Reckitt Benckiser Group Plc., Yakult Honsha Co. Ltd., Post Holdings Inc., GNC Holdings, Clif Bar & Company, Otsuka Pharmaceutical Co. Ltd., Atlantic Multipower UK Limited, GlaxoSmithKline PLC, Olimp Laboratories, Ultimate Nutrition Inc., and PowerBar Europe GmbH.
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