Rising Awareness about Healthy Diet and Demand for Dietary Supplements to Drive Sports Nutrition Market Growth
Sports Nutrition Market Size to Witness CAGR of 9.6% from 2019 to 2025
According to iCognition Insights, the global sports nutrition market size is estimated to be USD 18.27 billion in 2019. Rising demand for varied protein bars, energy drinks, and dietary supplements among sportspersons such as athletes and bodybuilders is a key driver for global market growth. Moreover, an increase in disposable income, rising number of gyms, health & fitness centres, and rapid lifestyle development for sports & fitness are some of the other driving factors influencing the growth. However, adverse effects and counterfeiting of these products are expected to restrain the market growth.
Based on type, the market is segmented into food, supplements, and drinks. In 2019, sports supplement segment attributed for the maximum revenue share owing to rising consumer awareness for health and fitness programs, worldwide. Based on distribution channel, the market is categorized into brick & mortar and e-commerce. In 2019, the brick & mortar segment is estimated to account for a largest revenue share due to the high number of retail purchase for sports nutrition products via on-counter stores.
In 2019, North America accounted for the highest revenue share across the globe and is expected to maintain its dominance during the forecast period. This is attributed to the consumer awareness for sporting activities, health & fitness, increasing number of gym & fitness centres, and government initiatives in the region. Asia Pacific is projected to exhibit the fastest CAGR over the forecast period.
Some of the major players in the sports nutrition market are MusclePharm Corp (U.S.), Hormel Foods Corporation (U.S.), Glanbia, Plc (Ireland), Conagra Brands, Inc. (U.S.), Power Body Nutrition Ltd (U.K.), Clif Bar & Company (U.S.), GNC Holdings, Inc. (U.S.), VitalaboLaboratoriaMedyczne (Poland), The Coca-Cola Company (U.S.), and Nestlé S.A. (Switzerland).
Sports Nutrition Market: Key Datapoints-
- Rising demand for varied protein bars, energy drinks, and dietary supplements among sportspersons such as athletes and bodybuilders, an increase in disposable income, rising number of gyms are some of the key drivers for global market growth
- The sports food type segment is expected to foresee lucrative growth owing to the food lifestyle changes and new product introductions
- The e-commerce distribution channel segment is anticipated to grow at a significant CAGR during the forecast period, due to the increasing consumer awareness and digital penetration
- Asia Pacific is projected to exhibit the fastest CAGR over the forecast period owing to the rising awareness for sports nutrition, and improving digital infrastructure in this region
- The leading players have adopted strategic collaborations, mergers & acquisitions, and novel product development approaches to capture the market share
Sports Nutrition Market Report Scope-
Sports Nutrition Market, By Type (Revenue, 2017-2025, USD Billion)
Sports Nutrition Market, By Distribution Channel (Revenue, 2017-2025, USD Billion)
- Brick & Mortar
Sports Nutrition Market, By Region (Revenue, 2017-2025, USD Million)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of MEA