Wilmington, Delaware, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Sports Nutrition Market by Type (Protein Powder, ISO Drink Powder, Sports Supplements, RTD Protein Drinks, Sports Drinks, Energy Bars, and Others), End User (Athletes, Bodybuilders, and Lifestyle Users), and Sales Channel (Hypermarket/Supermarket, Specialty Stores, Fitness Centers, and Online Channels): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global sports nutrition market generated $43,651.8 million in 2023 and is anticipated to generate $78,427.5 million by 2032, witnessing a CAGR of 6.7% from 2023 to 2032.
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Prime determinants of growth
The sports nutrition market is experiencing robust growth due to increasing consumer awareness about the importance of fitness and healthy lifestyles. Industry players are emphasizing innovation in product development to meet the rising demand for personalized nutrition solutions. Key growth drivers include a surge in health-conscious consumers, a growing fitness culture, and a rising interest in sports activities. The market is witnessing a shift toward natural and organic ingredients, with companies striving to provide clean-label products that align with the preferences of a discerning consumer base.
Despite the positive momentum, regulatory complexities pose challenges, necessitating significant investments in research and development for compliance. However, these challenges also open doors for businesses to distinguish themselves through transparent, high-quality offerings. The expanding reach of e-commerce further unlocks opportunities, allowing companies to tap into a broader consumer base and capitalize on the increasing trend of online health and wellness purchases.
Report coverage & details:
| Report Coverage | Details | |
| Forecast Period | 2023–2032 | |
| Base Year | 2022 | |
| Market Size in 2022 | $43,651.8 Million | |
| Market Size in 2032 | $78,427.5 Million | |
| CAGR | 6.7 | % |
| No. of Pages in Report | 473 | |
| Segments covered | Type, End User, Sales Channel, and Region | |
| Drivers |
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| Opportunities |
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| Restraints |
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The Protein Powder segment to maintain its leadership status throughout the forecast period
Based on type, the protein powder segment held the highest market share in 2023, accounting for more than two-fifths of the market revenue and is estimated to maintain its leadership status throughout the forecast period. The surge in demand for protein powder in the sports nutrition market is attributed to its versatile and convenient nature. As a vital component for muscle repair and growth, protein powder caters to the increasing fitness consciousness among consumers. However, the others segment is projected to attain the highest CAGR of 13.3% from 2023 to 2032.
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The Lifestyle Users segment to maintain its leadership status throughout the forecast period
Based on end user, the lifestyle users segment held the highest market share in 2023, accounting for nearly half of the global sports nutrition market revenue and is estimated to maintain its leadership status throughout the forecast period. The growing demand from lifestyle users indicates a shift towards integrating sports nutrition into everyday routines. As individuals adopt more active and health-conscious lifestyles, there is an increased awareness of the benefits of sports nutrition in supporting overall well-being. However, the bodybuilders segment is projected to attain the highest CAGR of 8.7% from 2023 to 2032.
The Hypermarket/Supermarket segment to maintain its leadership status throughout the forecast period.
Based on the sales channel, the hypermarket/supermarket segment held the highest market share in 2023, accounting for nearly half of the market revenue, and is estimated to maintain its leadership status throughout the forecast period. Additionally, the online channels segment is projected to attain the highest CAGR of 11.9% from 2023 to 2032.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2023, accounting for less than half of the market revenue. The increase in demand for sports nutrition products in North America is driven by a robust fitness culture and an increased focus on health and wellness. Consumers in North America are actively seeking products to support their fitness goals with a well-established market and rise in awareness of the benefits of sports nutrition. In addition, the LAMEA region is also expected to witness the fastest CAGR of 8.6% from 2023 to 2032 and is likely to dominate the market during the forecast period.
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Leading Market Players: -
- Abbott Nutrition, Inc.
- Clif Bar & Company
- Glanbia Plc.
- GNC Holdings
- Otsuka Pharmaceutical Co., Ltd.
- PepsiCo Inc.
- Post Holdings, Inc.
- Reckitt Benckiser Group Plc.
- The Coca-Cola Company
- Yakult Honsha Co., Ltd.
The report provides a detailed analysis of these key players in the global sports nutrition market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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