Sports Nutrition Market Size, Share & Trends Analysis Report By Product Type (Sports Supplements, Sports Drinks), By Formulation (Liquid, Tablets), By Consumer Group, By Sales Channel, By Region, And Segment Forecasts, 2024 - 2030

Sports Nutrition Market Size, Share & Trends Analysis Report By Product Type (Sports Supplements, Sports Drinks), By Formulation (Liquid, Tablets), By Consumer Group, By Sales Channel, By Region, And Segment Forecasts, 2024 - 2030

Sports Nutrition Market Growth & Trends

The global sports nutrition market size is expected to reach USD 75 billion by 2030, registering a CAGR of 7.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Due to the increasing health & fitness awareness, rising number of fitness & health apps, and growing interest in sports, it is expected to propel the market growth of sports nutrition over the forecast period. According to July 2021 statistics, by the International Health Racquet and Sportsclub Association (IHRSA), there were 32,270 health clubs in the U.S. Before the COVID-19 pandemic in 2019, nearly 64 million individuals in the U.S. were members of one or more of the 41,370 health clubs. Moreover, in 2019, a total of 73.6 million Americans were engaged in health club activities. Similarly, according to an article published by Australian Grants in 2021, the fitness industry holds a significant position in the nation, which includes fitness centers, gyms, sports facilities, and health clubs as its primary components. The Aus tralian Government has invested around USD 1.3 billion in funding for sports and fitness initiatives, which includes contributions and grants from state governments and territories. Thus, these factors are anticipated to drive the growth of the market over the forecast period.

The increasing demand for vegan products among consumers has further propelled the growth of sports nutrition. For instance, according to the news article, published in September 2022, vegan products are increasingly being consumed by gym users before, during, and after the exercise sessions. Moreover, in August 2023, Herbalife launched Herbalife V, a line of plant-based supplements in response to the growing demand for plant-based products, including dietary supplements. These products have received certifications such as USDA Organic, non-GMO verification, kosher certification, and plant-based and vegan certification by FoodChain ID. Similarly, in October 2023, Gelita, a German-based company, launched Easyseal, a pharmaceutical-grade gelatin designed for dependable softgel seams, along with a new collagen peptide called Peptendure. Thus, the launch of plant-based supplements due to rising demand is also anticipated to contribute to the growth of the market.

The global increase in obesity rates has led to a significant rise in the occurrence of chronic diseases across the world. This can be attributed to the increasing adoption of inactive lifestyles and the higher consumption of unhealthy diets, which are the primary driving factors contributing to the rise in obesity rates. According to an American Medical Society report, published in July 2023, approximately 42% of Americans are obese in the nation. Thus, the upsurge in obesity rates has raised concerns and increased awareness among people regarding healthy lifestyles and nutritious diets, thereby propelling the market for sports supplements. However, the sports nutrition industry is subjected to various regulatory analyses, mainly in terms of labeling, health claims, and product safety. Changes in regulations or compliance issues pose a threat to companies in the market. Thus, expected to inhibit the growth of the market over the forecast period.

Sports Nutrition Market Report Highlights

• Based on product type, the market is segmented into sports supplements, sports foods, sports drinks, weight loss products, and meal replacement products. The sports supplements segment held the largest market share of 39.4% in 2023. This is attributed to the growing number of gyms & fitness centers across the globe. The sports food segment is expected to grow at the fastest CAGR of 9.1% over the forecast period
• Based on sales channel, the market is segmented into brick & mortar and e-commerce. The brick & mortar segment held the largest market revenue share of 53.7% in 2023. The presence of various fitness institutes and specialty stores has significantly contributed to the growth of the market. The e-commerce segment is expected to grow at the fastest CAGR of 8.6% over the forecast period
• Based on consumer groups, the market is segmented into children, adults, and geriatric. The adults segment held the largest market share of 50% in 2023 and is expected to maintain the same over the forecast period. This is attributed to the active involvement in fitness and sports activity
• Based on formulation, the market is segmented into tablets, capsules, powder, softgels, liquid, and others. The powder segment held the largest market share of 27.2% in 2023. The capsule segment is expected to grow at a significant CAGR of 9.5% over the forecast period
• North America dominated the market with a revenue share of 26.72% in 2023, owing to the presence of major market players, increasing awareness among individuals, and growing government initiatives to promote various sports activities. Latin America is expected to grow at the fastest CAGR of 9.1% in the forecast period

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