Newark, Jan. 04, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 48.73 Billion in 2022 sports nutrition market will reach USD 111.71 Billion by 2032. Nutrition and diet are essential for peak performance. The increasing frequency of sedentary lifestyles and poor diets has increased the risk of getting diabetes, cardiovascular disease, obesity, and cancer. A significant amount of data indicates that dietary habits are responsible for 30% of cancer cases.
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Key Insight of the Sports Nutrition Market
North America is anticipated to expand at the highest CAGR of 10.35% over the projection period.
North America is expected to grow at the highest CAGR of 10.35% over the forecast period. There is a strong fitness culture in the area, and many health-conscious consumers are actively looking for nutritional supplements. Strong emphasis on sports and fitness, extensive product availability, and effective marketing techniques all support the market's expansion. Demand is also fueled by rising disposable money and a growing understanding of the value of active lives. North America's leading role in the sports nutrition industry continues to be maintained by the existence of significant market participants and ongoing innovation in product formulations.
The sports foods segment is expected to register the highest CAGR of 11.28% over the projected period in the sports nutrition market.
The sports foods segment is anticipated to grow at the highest CAGR of 11.28% in the sports nutrition market. Some of the factors anticipated to propel the market in North America are the expanding number of health and fitness facilities nationwide and the growing consumer awareness of health and fitness. In the next years, there will likely be a rise in demand for these products due to the growing number of new product launches in this category. For example, Bodybuilding.com introduced its own private label line of protein crunch bars in 2018; these were offered in two flavours: cookies and cream and chocolate peanut butter.
Over the projected period, the adults segment is expected to register the highest CAGR of 11.72% in the sports nutrition market.
Over the forecasted period, the adults segment is anticipated to grow at the highest CAGR of 11.72% in the sports nutrition market. It's because people are becoming more conscious of their well-being and spending more money on vitamins and health items. The expanding trend of holistic well-being and the availability and demand for accessible, sugar-free, vegan, and plant-based supplement formulations are driving this market.
Market Dynamics
Driver: The availability of sports supplements
Customers who enjoy exercise and have active lifestyles are increasingly purchasing sports nutrition goods and supplements. The main factors driving the market are sports supplements sold in bars, gels, and powder forms, as well as vitamin- and fruit-flavored sports beverages. Major players in this sector have partnered, collaborated, and increased their investments, giving customers access to a wide range of tastes and sensations.
Restraint: Premium prices
High-end sports nutrition products are typically pricey, which deters consumers on a tight budget and hinders the market's growth. Businesses must constantly innovate to differentiate themselves in a crowded market and meet the shifting demands of their customers.
Opportunity: Research into new ingredients and formulations
Research into novel ingredients and formulations, which improves product effectiveness and distinction, is driving innovation in the sports nutrition market. The attractiveness of products is being enhanced by novel protein sources, bioactive ingredients, and state-of-the-art delivery techniques. Tailored sports nutrition initiatives, like AI-powered recommendations and genetic testing, can boost market share and cultivate customer loyalty.
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Some of the major players operating in the sports nutrition market are:
• Abbott
• PepsiCo
• The Coca-Cola Company
• The Bountiful Company
• BA Sports Nutrition
• Jacked Factory
• Lovate Health Sciences
• Cliff Bar
• Post Holdings
• Orgain
• Quest Nutrition
• Cardiff Sports Nutrition
• MusclePharm
Key Segments cover in the market:
By Product Type:
• Sports Drinks
• Meal Replacement Products
• Sports Supplements
• Weight Loss Product
• Sports Foods
By Consumer Group:
• Adults
• Children
• Geriatric
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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