Sports Nutrition Market Size, Industry Trends Report | 2031

Report Description

Sports Nutrition Market Outlook 2031

The global sports nutrition market size was around USD 13.09 Billion in 2022 and is estimated to reach USD 32.41 Billion by 2031, expanding at a CAGR of 10.6% during the forecast period, 2023–2031. The growth of the market is attributed to increasing number of consumers focusing on self-care and fitness activities.

According to the International Diabetes Federation, 463 million adults aged 20 to 79 had diabetes in 2019, with the number expected to rise to 700 million by 2045. During the forecast period, all of these factors are forecast to expand participation in fitness activities and drive consumption of various supplements, including sports nutrition products.

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The market is being driven by an increasing awareness of the availability of sports nutrition products. Furthermore, consumers are educating themselves regarding the benefits of various ingredients and supplements from various sources. According to a research reported by Friesland Campina Ingredients, in 2020, 45% of consumers is expected to seek nutritional information from gyms and personal trainers, while 53% of them is anticipated to seek information friends and family.

According to the International Health Racquet and Sportsclub Assocation (IHRSA), in 2019, 73.6 million people in the US were part of health clubs. Athletes are focusing on achieving dietary requirements while engaging in physical exercise in order to improve their performance. This, in turn, is expected to drive the market for nutritional supplements. Market participants are introducing new flavors, ingredients, and technology to expand their market share.

Sports Nutrition Market Trends, Drivers, Restraints, and Opportunities

• Growing awareness of the increased risk of serious illness in COVID-19 patients who have obesity, diabetes, or heart disease is expected to spur the market growth.
• Rising prevalence of diabetes and incidence of obesity is anticipated to propel the growth of the market.
• Increasing number of people following an active lifestyle is projected to boost the market growth during the forecast period.
• Expanding consumer demand for nutritional products containing plant-based ingredients and products that provide immunity-boosting benefits are positively influence the market growth.

Scope of Sports Nutrition Market Report

The report on the global sports nutrition market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Sports Nutrition Market Segment Insights

Product Type Segment Analysis 

Based on product types, the market is segregated into sports drink, sports supplements, and sports foods. The sports drinks segment is further divided into isotonic, hypotonic, and hypertonic. The sports supplement segment is classified as probiotics, omega-3, carbohydrates, protein, vitamin, minerals, and amino acids. Moreover, the sports food segment is further segmented into protein bars, energy bars, and protein gel.

The sports supplement segment is expected to account for a key market share during the forecast period owing to increasing use of supplement among athletes and gym members for a variety of reasons, including endurance, strength gain, muscular growth, recuperation, energy, weight management, immune enhancement, and cognitive restoration.

However, the sports foods segment is anticipated to expand at a rapid pace during the forecast period owing to the increasing adoption of protein and energy bars as healthy ready-to-eat snacks. In 2020, the sports supplements segment dominated the market, accounting for more than 80% of the total revenue.

The easy availability of sports supplements in various flavors and ingredients by top retailers such as Bodybuilding.com, Walmart, and Amazon is driving the segment growth. Furthermore, the availability of vegan- and plant-based supplements is increasing sports supplement adoption across the globe.

Furthermore, the development of innovative sports food products to gain a competitive advantage is propelling the segment growth worldwide. For instance, Clif Bar expanded its product portfolio in June 2018 with the introduction of two new energy bars to the market, namely Clif Fruit Smoothie Filled Energy Bar and Clif Sweet & Salty Energy Bar.

Distribution Channel Segment Analysis 

On the basis of distribution channels, the sports nutrition market is segregated into e-commerce and brick & mortar. The brick and mortar segment is expected to constitute a significant market share owing to presence of huge range of sports nutrition items that are readily available in physical stores. In 2020, the brick and mortar segment accounted for more than 75% of total revenue.

Furthermore, these stores are employing a variety of techniques in order to attract more customers and obtain a competitive advantage. For instance, The Vitamin Shoppe opened a new store in New Jersey, the US, in October 2019.

It features digital product guides, individualized health assessments, mobile POS checkout, supplement sampling machines, and body composition analysis stations. Additionally, in January 2021, The Vitamin Shoppe opened its first store in Vietnam in collaboration with Kim Lien Group.

On the other hand, the e-commerce segment is anticipated to expand at a rapid pace during the forecast period owing to rapid technological adoption and increasing e-commerce activities. Furthermore, due to the spread of the COVID-19 and the resulting lockdowns have increased the online sales.

According to a survey undertaken by the United Nations Conference on Trade and Development and the Netcomm Suisse e-Commerce Association, the online purchase of pharmaceutical and health items climbed by 9% in 2020.

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Regional Analysis

In terms of regions, the market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Europe is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth is attributed to increasing public awareness about physical fitness, healthy lifestyle, weight loss, and nutrition goods.

Furthermore, many initiatives by important stakeholders aimed at promoting the uptake of sports nutrition products in the Europe is gaining the market traction. For instance, Westomatic launched a contactless sports nutrition drink dispenser in January 2021, which can help to reduce the spread of COVID-19.

On the other hand, North America dominated the sports nutrition market in 2020, accounting for almost 60% of the total revenue. This is due to rising health consciousness as well as the widespread availability of sports nutrition products.

According to a survey done in September 2020 by Optimum Nutrition, a sports nutrition company, 62% of the people in the US are concerned about their overall health. Furthermore, government-sponsored nutrition and exercise efforts are boosting market growth in the region. The President's Council on Sports, Fitness, and Nutrition (PCSFN) is a US Advisory Committee dedicated to encourage Americans to engage in physical exercise and eat healthily.

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