According to our latest study on “Sports Nutrition Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Formulation, and Distribution Channel," the market is expected to reach US$ 72,178.19 million by 2028 from US$ 41,683.48 million in 2021; it is estimated to grow at a CAGR of 8.2% during 2022–2028. The report highlights the key factors driving the sports nutrition market and prominent players with their developments in the market. Key factors driving the market are the increasing prevalence of obesity and the rising consumer base of sports nutrition products. However, the availability of adulterated sports nutrition products restricts the market growth.
In the global census undertaken by the International Federation of Association Football (FIFA), a sport’s governing body, there were 265 million individuals who play football, along with more than 5 million referees, which equates to 4% of the global population. Similarly, the Federation of International Basketball Associations (FIBA) estimated that at least 450 million people in the world play basketball, either recreationally or through structured competitions. The number of people participating in recreational sports, including high-impact sports such as tennis or soccer, is increasing in Western countries. According to a study published by the National Federation of State High School Associations (NFHS), the participation of high school boys in the US in soccer, wrestling, and tennis surged significantly during 2018−2019. According to the same study, sports participation in schools in the country was at its peak in the said academic year for the first time in the past 30 years. According to a study published by Stanford Children’s Health in 2020, ~30 million children and teenagers participate in sports annually in the US. Nevertheless, sports are popular among people of all generations. Such an increase in participation in sports is projected to contribute to the growth of the sports nutrition market. With the growing criticality of wellness and mindfulness, fitness has become a more relevant goal for many people. According to MuscleBlaze in India, ~40% of gym-goers consumed whey supplements in 2019. Physical exercises increase cardiovascular fitness and boost overall health by developing a mechanism for coping with stress, anxiety, and depression. As a result, with a surge in the number of people going to gyms and fitness centers, the consumption of health supplements has increased in recent years.
Thus, the increasing awareness of fitness and the extending consumer base of sports nutrition—including athletes, bodybuilders, and non-athletes aspiring to adopt healthy lifestyles drive the sports nutrition market growth.
The COVID-19 pandemic led to a decline in the sales of sports supplements due to the shift in consumers’ shopping habits; they preferred buying essentials over nonessential products. In addition, the temporary shuttering of gyms, fitness centers, health clubs, and sports institutes hampered the sales of sports nutrition products. Further, Fitness centers such as Town Sports International, Flywheel Sports, and 24-Hour Fitness have filed for bankruptcy during the COVID-19 pandemic. However, online sales grew rapidly in 2020 as consumers turned to e-commerce platforms to avoid crowded places and maintain health. The growing demand for sports nutrition products containing functional ingredients and the increasing demand for online sales channels had a positive impact on the market performance.
Glanbia Plc, PepsiCo Inc.; The Coca-Cola Company; LOVATE HEALTH SCIENCES; Clif Bar & Company; BULK POWDERS; Abbott; Yakult Honsha Co., Ltd.; MUSCLEPHARM CORPORATION; and GNC HOLDINGS INC. are a few of the leading companies in the sports nutrition market.
Report : Sports Nutrition Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Sports Supplements, Sports Food, Sports Drinks, and Others), Formulation (Powder, Tablets, Capsules, and Others), and Distribution Channel (Convenience Stores, Supermarkets and Hypermarkets, Specialty Stores, and Others)
Report : Sports Nutrition Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Sports Supplements, Sports Food, Sports Drinks, and Others), Formulation (Powder, Tablets, Capsules, and Others), and Distribution Channel (Convenience Stores, Supermarkets and Hypermarkets, Specialty Stores, and Others)The report segments the sports nutrition market as follows:
The sports nutrition market, based on type, is segmented into sports supplements, sports food, sports drinks, and others. In 2021, the sports supplements segment accounted for the largest share. The sports food segment is expected to register at a CAGR of 8.7% during the forecast period. The rising consumption of protein supplements, including whey protein, and the growing availability of plant proteins, such as spirulina, soy, pumpkin seed, rice, hemp, and pea, boost the growth of the market for sports supplements. Moreover, the growing consumption of protein powders and shakes for muscle strengthening among athletes and the gym-going population fuels the market growth. Many retailers including Amazon, Walmart, and Vitamin Shoppe offer various protein supplement products in different regions.
Based on formulation, the global sports nutrition market is segmented into powder, capsules, tablets, and others. The powder segment held the largest share of the market in 2021, moreover the same is expected to grow over the forecasted period due to the increasing demand for various flavored drinks.
Based on distribution channel, the global sports nutrition market is segmented into convenience stores, supermarkets/hypermarkets, specialty stores, and others. The convenience stores segment held the largest market share in 2021, moreover the same is expected to grow over the forecasted period. The easy availability of convenience stores and the expansion in retail channels drive the growth of this segment in the anticipated period.
Based on geography, the sports nutrition market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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