New York, USA, June 08, 2021 (GLOBE NEWSWIRE) -- As per a report studied by Research Dive, the global sports nutrition and supplements market is projected to generate a revenue of $35,350.0 million by 2026, increasing from a market size of $13,900.0 million in the year 2018, at a significant CAGR of 12.9% during 2019-2026 timeframe. The market research gathers the current market growth as well as the upcoming circumstances. Researchers have conducted a market study by evaluating data and numbers using primary and secondary research approaches. Also, reference data from periodicals, newspapers, books, authentic sites, and journals are referred while drafting the market report. Furthermore, the report also cites the impact of the COVID-19 pandemic on the market.
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Key Insights of the Report
- Speculates basic factors of the market including definition, pros & cons, and several application fields.
- An inclusive description of the growth rate, market size, market situations, significant dynamics, statistics, revenues, and future predictions.
- Noteworthy market segmentation, hindrances, growth facets, and investment opportunities.
- Present state of the global and regional market through countries, companies, and industries.
- Main insights on Porter’s five forces analysis, current market trends and advances, SWOT scrutiny, leading market players, and creative business tactics.
Factors Affecting CAGR Figures during Pre and Post Covid-19 Crises
The global sports nutrition and supplements market was accounted for a growth rate of 8.6% before the Covid-19 pandemic, but the market is expected to rise at a CAGR of 12.9% after the coronavirus outbreak. The positive growth of the market is mainly attributed to owing to a shift in people’s lifestyle towards a greater emphasis on fitness and health. Moreover, increase in the consumption of sports nutrient products in order to boost immunity is likely to propel the market growth during the pandemic.
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Factors Impacting the Market Share during Pre & Post Covid-19 Pandemic
The global sports nutrition and supplements market was estimated to hold a market share of $16,445.4 million before the pandemic in 2020, but the market garnered a revenue of $17,497.9 million during the coronavirus outbreak. Maintaining good immunological health, according to the World Health Organization (WHO), will aid recovery from a variety of virus ailments, including coronavirus. In addition, nutritional deficiencies such as micronutrient deficiencies, protein and vitamin may reduce immunity and raise vulnerability to infections.
These factors are raising the need for nutritional supplements that help people stay fit and enhance their immune systems. During the COVID-19 crisis, this element is greatly boosting the growth of the sports nutrition and supplements market.
Future Scope of the Market
The global sports nutrition and supplements market is estimated to maintain its growth even after the end of the pandemic. During this period of crisis, most manufacturers are majorly focusing on R&D operations to produce unique goods based on client customization and personalization, which is estimated to produce significant growth potential in the global market. Furthermore, there is fast developing demand for online fitness and body maintenance activities due to internet usage, which is predicted to drive the growth of the market in the future years.
For instance, the Canadian government recently raised $5 billion in funding for premier agribusiness and food processors. This financing will provide additional assistance to formers experiencing cash flow challenges as well as food processors experiencing sales losses due to the COVID-19 outbreak.
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Key Market Players:
The prime players of the global market are
- Hormel Foods Corporation
- Glanbia plc
- PepsiCo Inc.
- The Coca-Cola Company
- Clif Bar & Company
- Abbott
- General Nutrition Centers, Inc.
- Yakult Honsha Co., Ltd
- Otsuka Holdings Co., Ltd
- MUSCLEPHARM
- POST HOLDINGS, INC.
- Reckitt Benckiser Group plc
These industry players are working on several strategies like merging with key businesses, launching new products, engaging in collaborations and profitable tie-ups, and financing research and development projects to maintain their competitive state in the market.
For instance, TRX, for example, developed a new product in 2019 called the “TRX Home 2 suspension training kit,” which is a simple fitness routine for achieving fitness objectives and weight loss & gain.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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