Sports Nutrition Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Sports Nutrition Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The global sports nutrition market is projected to witness a CAGR of 12.5% during the forecast period, 2022 - 2027.

The COVID19 crisis has had a significant effect on the sports nutrition market. The outbreak disrupted the sporting schedule and affected some of 2020’s largest events, which, in turn, also hampered the sales of sports nutrition products through such events on a large scale. Some of the major international sporting events delayed due to the outbreak include the Tokyo Olympics and Paralympics and the UEFA Football event. As such events increase the consumption of sports nutrition products and offer a venue for promotions.

The consumption of sports nutrition products has increased among consumers, because of increased health awareness and rising disposable income levels of consumers. Thus, the growth rate of the sports nutrition market is rising. Indulgence in buying and product knowledge are the key factors driving the growth rate.

The sports supplement segment occupied a major share due to the increased regularized usage of sports nutrition products by sportspersons in the form of supplements. The growing varrient for different body types, where the consumers get to use the products dependng upon their need and taste is one such factor that stimulate the market growth.

Sports Nutrition Market TrendsRising Consumer Engagements in Fitness Clubs

Consumers these days are more conscious about their health, for instance, in majority of the German population is the members of fitness clubs. Sports nutrition products have increasingly gained popularity, mainly among athletes and individuals involved in vigorous physical activities. The growing emphasis on staying healthy and in shape and rising participation in sports, health clubs, sports clubs, and gyms. These are some of the key drivers contributing to the growth of the sports nutrition industry.​

United States has the most fitness clubs in the world, whereas, Brazil is the second-largest country to have maximum number of gym which is followed by Mexico. Due to the rising concerns of the consumers regarding their health the fitness clube penetration rate is also rising, for example, various studies have depicted that in United States, 18.6% of whole population are the memebrs of various fitness clubs.

Asia-Pacific is the Fastest-growing Market

China is the origin of the " Beijing Olympics Games". The changing lifestyles of consumers in the Asia-Pacific region, particularly in countries like India and China, are paving the way for sports nutrition food as a convenient food choice to satiate hunger and provide nutrition after sports or exercise. For instance, China has the highest annual revenue generated from fitness clubs all over the globe in 2020. Thus, the involvement of consumers in sports is one of the major reasons for driving the sports nutrition market.

The rising snacking trend among the health-conscious consumers of the country drives the demand for sports food, especially energy and protein bars. ​As these products directly relate to the RTE foods, it eventually saves time for consumers.

Fitness enthusiasts in the region are also driving the market with their varied demands, such as muscle development, stamina enhancement, and body-fat reduction, among others, thus enabling players to enter the sports nutrition market., which also attracts other consumers of different ages, thus the demand for sports nutrition is significantly rising in this region.

Sports Nutrition Market Competitive Analysis

The sports nutrition market is highly competitive, with the presence of various international and domestic players. The giants of the global market are progressively relying on product innovation as the most adopted strategy. Extensive investments in R&D have been witnessed in the past years, which led to the introduction of numerous new products in the market. Moreover, the players are also extensively focusing on providing consumers innovative offerings while including functional benefits. The major players in the sports nutrition market are Glanbia PLC, PepsiCo Inc., MusclePharm Corporation, The Coca-Cola Company, Clif Bar & Company, Multipower, etc.

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