Sports Nutrition Market Report - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

The global sports nutrition market is anticipated to record a revenue of US$ 23.8 Billion by 2030 and to register a CAGR of 4.8% over the forecast period of 2022 to 2030. 

The market growth is expected to be supported by factors such as growing awareness about fitness among an increasing number of people and the rapid growth of the sports industry. The sports industry is divided into two main sectors, participatory (community sports, gyms, personal training, etc.) and spectator (event revenue, sponsorship and merchandising, etc.) With a projected future growth rate of 5.9%, the spectator sports industry is predicted to develop the fastest of the two, according to Torrens University Australia. 

According to the Institute of Medicine of the National Academies, an athlete's diet must be comparable to that advised for the general public, with calorie intake divided into 15-25% from protein, 45-65% from carbohydrates, and 20-35% from fat. To achieve the best results and efficiently supplement their nutritional needs during strenuous workouts and physical activities, athletes use a combination of several sports nutrition products. In terms of end users, the demand for sports nutrition products is expected to be highest among athletes over the forecast period.

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Competitive Landscape

Global sports nutrition market is moderately competitive in nature, the top five players in the market have a cumulative share of more than 55%, with Abbott Laboratories holding the highest market share of 16.5%, closely followed by GNC Holding, LLC and Clif Bar & Company. According to the Astute Analytica study, leading market players adopt strategies such as imparting a long-term impact on clients through remarkable customer care and partnering with other organizations in the market.

Key Intakes:

• In November 2021, CLIF, a nutrition food and natural energy maker, partnered with five of its sponsored athletes to help organizations, that aids communities following natural disasters like COVID-19, is supporting this charitable endeavour, making it simpler for more people to get outside, get active, and encourage the preservation of their favourite recreational places.
• In May 2022, Glanbia Nutritionals announced the acquisition of Sterling Technology, a manufacturer of dairy bioactive solutions made from cow colostrum. Glanbia's CEO claims that the acquisition broadens its offering of bioactive solutions to better serve its clients' demands and business aspirations.
• In May 2022, GNC, global wellness and specialty health retailer and Alani Nu, a webshop, created Rocket Pop, a limited-edition pre-workout energy drink. The energy drink offers a wellness-focused alternative to America's favorite summer treat and is currently offered in its best-selling product formulations.
• In December 2020, Abbott released Pedialyte with Immune Support, a new Pedialyte formulation that was particularly formulated with essential nutrients to maintain immune health. The product was targeted at consumers seeking vital immune-supporting ingredients in their hydration beverages.

Market Dynamics

Drivers:

Growing awareness about fitness

The consumption of sports nutrition products is rising rapidly among bodybuilders and even general fitness enthusiasts to keep in shape and meet their daily protein requirements. Bodybuilders and fitness fanatics have primarily focused on consuming foods dense in proteins and other nutritional elements. However, the trend is rapidly changing as individuals become more aware of the need for a well-rounded diet that supplies all essential nutrients to the body and enhances general health, cardiovascular health, and respiratory health. Owing to these factors, the demand for sports nutrition products is expected to in the near future. 

Restraints:

Risk of fake supplements

The availability of a range of fake supplements in the market could be a major restraint for the market. The variety of supplements in the market could create make it challenging for consumers to distinguish between real and fake supplements. Because of the high popularity and demand for supplements, both fake and real supplements are marketed in huge quantities. Health supplements of the highest caliber are expensive. However, the high demand for cheaper supplements is driving the market for phony supplements.

Trend:

Raising trend of plant-based products

As businesses place a higher priority on fruits, vegetables, nuts, seeds, grains, and botanicals in the quest for healthier living, plant-based diets are predicted to be one of the biggest trends in both food and health sectors in the near future. Because an increasing number of people globally are attempting to eat less meat, the market for vegan food is growing. Both vegans and non-vegans strive to substitute vegan diets for animal-based ones. Among the factors associated with the rise in veganism include its potential benefits associated with health, weight loss, animal welfare, the environment, and the overuse of antibiotics.

Covid-19 impact on the market

Athletic facilities, swimming pools, dance and fitness studios, physiotherapy clinics, parks, and playgrounds were all forced to close due to the COVID-19 pandemic. China supplies the vast majority of the raw ingredients needed to make nutritional supplements in the US. Several manufacturers resorted to boosting the local procurement of ingredients owing to supply chain disruptions caused by the pandemic and the deterioration of US-China trade relations. 

In March 2020, the COVID-19 pandemic forced the FDA to significantly reduce the number of inspections of establishments that make dietary supplements. Local legislation and virus data are expected to continue to have an impact on how inspections are done even after they were resumed at the end of July 2020. Lack of quality inspections could negatively impact customer trust in supplements, which, in turn, may impact market growth.

Market Segmentation

Product Type Analysis

In terms of product type, the protein powder segment held the highest market share of 24% in 2021. Protein powders also help with weight management, tissue repair, enzyme generation, immune system improvement, and the maintenance of appropriate cholesterol levels as well as providing the building blocks for strong muscles and tissues. Beverages with a high protein content are seeing high popularity in the protein ready-to-drink (RTD) industry. 

Companies have discovered ways to include protein in a number of common sports foods and snacks, resulting in an explosion of high-protein options in the market. The global market for sports nutrition has benefited from this. The vegan supplements segment is anticipated to register the highest CAGR over the forecast period. This can be attributed to the growing trend and demand for vegetarian and vegan proteins.

Application Analysis

With a revenue share of more than 50%, the post-workout category dominated the market in 2021. Post-workout vitamins offer benefits that include enhanced muscular growth, recovery, muscle mending, and muscle mass maintenance. Due to their numerous benefits and growing consumer awareness of these products, the demand for post-workout supplements is expected to grow at a promising pace over the forecast period. 

End Users Analysis

The athlete sector is anticipated to expand at the highest CAGR of 5.6% over the forecast period. While products containing minerals, electrolytes, carbohydrates, and other nutrients help the body stay hydrated and provide energy and nourishment, products containing protein aid athletes in building new muscles and maintaining lean muscle mass. Furthermore, to achieve the best results and efficiently supplement their nutritional needs during strenuous workouts and physical activities, athletes use a combination of several sports nutrition products.

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 Distribution Channel Analysis

With a 60.9% revenue share in 2021, the offline distribution channel dominated the market. Offline stores such as specialty shops, small retail stores, supermarkets, gyms, and basic discount merchants carry a wide variety of goods. In addition, offline retailers provide member benefits and customer loyalty programs, among other offers, to retain old customers and attract new ones. Online sales, however, rose in 2020 as a result of the COVID-19 pandemic and related lockdowns. 

Online retailers like Walmart and Amazon are also entering the swiftly growing sports nutrition business. The availability of discounts on a variety of supplements, which has increased the number of self-directed consumers, is one of the primary factors promoting the usage of online channels for the purchase of sports nutrition goods.

Regional Analysis

In 2021, North America dominated the market and contributed to over 40% of the global market’s revenues. Factors such as the high use of sports supplements and increased health and wellness awareness are anticipated to encourage market expansion in North American nations, particularly in the US, in the near future. Furthermore, the presence of several businesses and the range of strategies employed by these businesses are expected to encourage market expansion. The growing activities in the government and private sectors, as well as rising sports participation, are expected to fuel market expansion. 

Sports nutrition products are gaining popularity as a convenient food substitute to sate hunger and deliver nutrients after sports or exercise as a result of the changing lifestyles of people in the Asia-Pacific region, notably in nations like India and China. This is expected to drive the Asia Pacific market over the forecast period.

Segment Overview

By Product Type

• Protein Powder
• Sport Drinks
• Protein Bars
• Supplements
• Vegan
• Creatine
• Performance Enhancers
• Others

By Application

• Pre-workout
• Post-workout

By End User

• Athletes
• Bodybuilders
• Fitness Enthusiast
• Weightlifters

By Distribution Channel

• Online
  • eMarketplaces
  • Online Brand Stores
• Offline
  • Supermarkets/ Hypermarkets
  • Specialty Stores
  • Fitness Centers

By Region 

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Poland
  • Russia
• Asia Pacific
  • China
  • Taiwan
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
• South America
  • Brazil
  • Argentina
  • Rest of South America