Global Sports Nutrition Market – Overview
Global Sports Nutrition Market is valued at USD 43.40 billion in 2022 and is projected to reach a value of USD 83.35 billion in 2030 expanding at a CAGR of 8.5% over the forecast period of 2022-2030.
Nutrition and diet are considered as an essential part for maximum performance. Sports nutrition products has offered several benefits that includes optimal gains from training, rise in recovery between workouts and events, maintenance and achievement of ideal body weight, reduction in injury risk, and performance consistency.
The consumption of sports nutrition products has been rapidly growing among fitness enthusiasts and active lifestyle consumers. Consumers have been utilizing these products to gain energy as well as muscle and support weight management.
Also, the prevalence of lifestyle diseases, commonly obesity is growing rapidly. Rise in obesity rate has driven the demand for sports nutrition products for weight management. Also, with the changing lifestyle the global sports nutrition market has risen rapidly.
Key market trends- Growth Determinants and Challenges
Every market has its growth determinants and challenges. One of the major factor that has fuelled the market growth is the advantages linked with the sports nutrition market. The adoption of sports nutrition products by the athletes has helped in the growth of the market.
Also, the adoption of these products help to gain energy as well as muscle mass and weight management. There has been a rise in the market because of the gym-goers who links all the advantages related to the sports nutrition market.
Additionally, the availability of a variety of the formulation, such as, ready-to-drink, gels, bars, as well as powders all have driven the market growth over the forecast period. Manufacturers have added innovative flavours and functional ingredients in order to enhance the nutritional value.
On the flip side, the pandemic had a negative impact on the Market. This was because of the strict lockdown policy as there was less labour, temporary shutdown of gyms and other fitness centres. But, post pandemic the market has evolved and is growing during the forecast period.
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Segmental Analysis of the Market
Based on Product
- Sports supplement
- Sports food segment
Sports supplement is projected to dominate the market over the forecast period. This is because of the rise in consumption of whey proteins, and availability of various plant proteins globally.
Based on application
- Post-workout
- Others
The post workout segment has dominated the market over the forecast period. This is because of the numerous benefits associated with it. Also, the rise in awareness about the post workout supplement has increased the market growth.
Based on Formulation
- Powder
- Gummies
The powder segment has dominated the market growth during the forecast period. This is because of the high consumption of protein powders among the athletes and fitness enthusiasts.
Based on Distribution Channel
- The brick and mortar segment
- The online distribution channel
The brick and mortar segment has dominated the market growth. This is because of the easy availability of a large number of products in brick and mortar stores. Also, the stores offer membership benefits.
North America is anticipated to amplify at a considerable CAGR
North America, Europe, Asia pacific, and middle east and Africa are the major regions constituting the geographical landscape of Global design thinking market. Among these, North America has dominated the regional market share. This is because of rise in demand and increased awareness regarding health and well-being among the people in the U.S.
Competitive Landscape
The prominent players influencing the competitive hierarchy of the market
sphere are Iovate Health Sciences; Abbott; Quest Nutrition; PepsiCo; Cliff Bar; The Coca-Cola Company; Muscle Pharm; The Bountiful Company; Post Holdings; BA Sports Nutrition; Cardiff Sports Nutrition.
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Major questions answered in this report
- What is the growth rate of Global Sports Nutrition market?
- What are the primary growth determinants of the market?
- Which are the major regions constituting the geographical landscape of the market?
- Which are the prominent companies operating in the market?
Key takeaways from the report
- Global sports nutrition market is projected to register at a CAGR of 8.5% over the forecast period of 2022-2030.
- Numerous advantages related to the sports nutrition products is aiding market progression.
- Powder segment has poised to expand significantly over the forecast period.
- North America is anticipated to amplify at a considerable CAGR
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