Sports Nutrition Industry Overview
The global sports nutrition market size is expected to reach USD 82.3 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.5% from 2022 to 2030. Consumer awareness regarding health and wellbeing is contributing to market growth. People are actively involved in various health and fitness activities. For instance, according to the AusPlay Survey 2021, 83.3% of women and 79.4% of men participate in sports and physical activity at least once a week in Australia. Additionally, consumers with lifestyle diseases are growing.
Sports Nutrition Market Segmentation
Grand View Research has segmented the global sports nutrition market on the basis of product type, application, formulation, consumer group (age group & activity), distribution channel, and region:
Based on the Product Type Insights, the market is segmented into Sports Supplements, Sports Drinks, Sports Foods, Meal Replacement Products, and Weight Loss Products.
- Sports supplements accounted for the largest revenue share of over 50.0% in 2021 owing to the growing consumption of protein supplements such as whey protein and the availability of various plant proteins such as soy, spirulina, pumpkin seed, hemp, rice, and pea.
- The availability of a large variety of protein supplements in retailers including Walmart, Amazon, and Vitamin Shoppe will support the segment growth.
- The sports foods segment is expected to expand at the fastest growth rate over the forecast period. Sports foods such as protein and energy bars are gaining popularity as on-the-go snacks.
Based on the Application Insights, the market is segmented into Pre-workout, Post-workout, Weight Loss, and Others.
- The post-workout segment held the largest revenue share of over 35.0% in 2021. Post-workout supplements offer benefits such as repairing damaged muscles, enhanced muscle gain, recovery, and maintenance of muscle mass.
- Post-workout supplements such as branched-chain amino acids, glutamine, and casein are gaining traction globally owing to the growing awareness regarding their benefits.
- Consumer demand for probiotics, vitamins and mineral supplements, meal replacement products, weight management products, and during-workout supplements will foster the segment growth in the near future.
Based on Consumer Group Insights, the market is segmented into Children, Adults, and Geriatrics.
- The adult segment held the largest revenue share of over 65.0% in 2021. This is attributed to a large number of consumers falling in the age of 18 to 64 years.
- The increasing working women population is driving the demand for women's sports nutrition in this age group.
- The adult segment is expected to emerge as the fastest-growing segment over the forecast period due to the growing spending on health products and supplements and growing awareness regarding well-being.
Based on the Formulation Insights, the market is segmented into Tablets, Capsules, Powder, Softgels, Liquid, and Gummies.
- The powder segment held the largest revenue share of over 40.0% in 2021 owing to the high consumption of protein powders.
- The gummies segment is expected to be the fastest-growing segment over the forecast period.
- Growing consumption of gummies owing to benefits such as convenience, taste, and easy consumption is estimated to drive the segment.
Based on the Consumer Group, By Activity Insights, the market is segmented into Heavy Users and Light Users.
- The light users segment held the largest revenue share of over 70.0% in 2021.
- The main reason behind the large revenue share is the expansion of the customer base from high endurance athletes and bodybuilders to general customers, ranging from women and teenagers to college students and even older individuals displaying a high interest in maintaining a healthy lifestyle.
Based on the Distribution Channel Insights, the market is segmented into Brick and Mortar and E-commerce.
- The brick and mortar segment held the largest revenue share of over 75.0% in 2021.
- The online distribution channel segment is expected to expand at the fastest growth rate. The COVID-19 pandemic and associated lockdowns boosted online sales in 2020.
- E-commerce retailers such as Amazon are entering sports nutrition to enter the rapidly growing industry.
Sports Nutrition Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Mergers & acquisitions, collaborations, and flavor differentiation are the key strategies adopted by the major companies for gaining a competitive edge in the market.
Some prominent players in the Global Sports Nutrition market include:
- Iovate Health Sciences
- Abbott
- Quest Nutrition
- PepsiCo
- Cliff Bar
- The Coca-Cola Company
- MusclePharm
- The Bountiful Company
- Post Holdings
- BA Sports Nutrition
- Cardiff Sports Nutrition
Order a free sample PDF of the Sports Nutrition Market Intelligence Study, published by Grand View Research.
No comments:
Post a Comment