Westford, USA, Nov. 18, 2022 (GLOBE NEWSWIRE) -- According to SkyQuest, the sports nutrition market is expected to grow at a CAGR of 10.6% in the years to come, reaching a value of $11.6 billion by 2028. This growth can be attributed to growing interest in diet and exercise as well as an increased awareness of the importance of sports nutrition for athletes and fitness enthusiasts. According to a study published in the American Journal of Clinical Nutrition, the percentage of athletes who consume sport nutrition has increased from 10% to 30% over the past decade.
One trend that is predicted to impact the sports nutrition market significantly is increasing recognition of plant-based proteins as an effective alternative to animal-based proteins. For example, recent studies have shown that plant-based protein sources can help individuals achieve similar results when it comes to weight loss and muscle gain. As a result, we anticipate a growth in the market for plant-based protein supplements across all segments of the market over the next few years.
The biggest growth driver has been the global market for performance-enhancing supplements such as creatine and protein powders, which have seen an 80% rise over the past 5 years. Growth will also come from new categories such as probiotics and botanical extracts, which are expected to see strong demand from athletes looking to improve their gut health while on the road or during training sessions.
However, increasing regulatory scrutiny could limit the upside potential for some segments of the sports nutrition market, warns SkyQuest. For example, the dietary supplement market will face increased scrutiny by regulators due to concerns around doping and links between sports supplements and certain types of injuries. This could lead to a decline in sales for some sports nutrition products across all geographies. Conversely, other segments such as functional foods and beverages are forecast to benefit from stricter regulation because they are considered healthy alternatives to unhealthy snacks and beverages consumed by athletes before or after training sessions.
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SkyQuest Survey Says Less than 60% Athletes are Encouraged to Eat Sport Nutrition
SkyQuest's survey of sport nutrition looks at how individuals and clubs are progressing in implementing healthy eating and physical activity practices into their sport programs in the global sports nutrition market. 70% of respondents report making progress, while 23% say they have not made any progress. When it comes to improving physical activity levels, the majority (86%) of respondents report that their sport program provides enough opportunities to be active.
However, only 43% of respondents feel that their sport program encourages healthy eating habits for athletes, which is an area where more work needs to be done. In terms of nutritional information provided to athletes, 81% of respondents in the global sports nutrition market indicate that they receive nutritional facts about food options during game time; however, when asked about providing balanced meal plans for athletes, just over half (55%) feel that their sport organization invests in this strategy.
The results showed that while most athletes know about the importance of sports nutrition supplements, almost half (45%) do not believe that a balanced diet is necessary for optimum performance. In addition, many respondents reported experiencing some sort of deficiency during physical activity: 46% said they had experienced fatigue after vigorous exercise; 43% had suffered from muscle pain; and 41% had lost muscle mass.
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Sports Nutrition Market Manufactures are Responding to Intense Competition by Introducing Innovative Products
There is no denying that the sports nutrition industry is extremely competitive. Manufacturers are constantly searching for new and innovative ways to differentiate their products from those of their competitors. In order to stay ahead of the competition, manufacturers have developed a variety of marketing strategies. Some of these include developing new products, expanding into new markets, and increasing the quality of their existing products.
The sports nutrition market is expected to grow at a CAGR of 10.6%. This upswing can be attributed to millennials increasingly favoring active lifestyles and the rise of Crossfit, a physical fitness training program that emphasizes the consumption of nutritional supplements.
Experimenting with Formulations and Technologies
To meet growing demand, manufacturers are experimenting with new formulations and technologies, including innovative delivery systems such as oral capsules and powders. These innovations are helping to drive sales growth in the industry. However, challenges remain for sports nutrition manufacturers. For one, there's been pressure from major players in the global sports nutrition market like PepsiCo Inc. (PEP) and Coca-Cola Co. to reduce yields or withdraw products due to concerns about oversaturation in the market. Additionally, diets that emphasize lean protein over carbohydrates may not provide all the nutrients athletes need, which is driving increased demand for multivitamins and minerals products.
Another trend in the industry is the development of food bars and snacks that can be consumed pre- or post-workout. These products provide protein and other essential nutrients without adding extra calories or fat. This type of innovation helps athletes maintain a healthy weight while maximizing their performance.
Despite these challenges, manufacturers in the global sports nutrition market continue to come up with new ways to improve the quality and effectiveness of sport nutrition products. As long as companies continue to innovate, they should be able to keep up with the competition and remain on top of the market.
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Sport Supplement to Generate over 40% Revenue of Sport Nutrition Market
Though the market for sport supplements is estimated to be worth over $4.68 billion, only a fraction of that revenue is generated by products designed to improve physical performance. According to the SkyQuest, sport supplements generate an estimated 40% of the global sports nutrition market revenue. The three most popular categories of sport supplements are energy boosters, recovery aids, and performance enhancers.
The top three categories that make up the majority of sport nutrition products are athletic performance enhancement (30%), weight loss/maintenance (25%), and health & well-being (22%). The popularity of botanical extracts as additives for sports supplements continues to grow as consumers become more familiar with their purported benefits, including improved cognitive function and reduced inflammation
Each category in the global sports nutrition market has a range of products designed to meet specific needs. Energy boosters can help increase stamina and endurance, while recovery aids help reduce post-workout pain and inflammation. Performance enhancers can improve strength, agility, and speed.
Each type of product has a different use case and target audience. Energy boosters are typically marketed to athletes who want to maintain peak performance throughout the entire game or event. Recovery aids are typically used by athletes who require quick relief from fatigue or injury, such as soccer players during halftime or basketball players in the final minutes of a game. Performance enhancers are often targeted at individuals who want to improve their strength or muscle mass.
Top Players in Global Sport Nutrition Market
- Iovate Health Sciences
- Abbott
- Quest Nutrition
- PepsiCo
- Cliff Bar
- The Coca-Cola Company
- MusclePharm
- The Bountiful Company
- Post Holdings
- BA Sports Nutrition
- Cardiff Sports Nutrition
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