ESOMAR-certified consulting firm Future Market Insights (FMI) projects sports nutrition market to register an impressive growth through 2021 & beyond. Demand for organic sports nutrition beverages will increase, augmenting the sales in the market.
Rising demand for clean-label products and trend of vegan lifestyle is fuelling the demand for plant-derived ingredients. Post COVID-19 outbreak, consumers have become more conscious regarding their health, which is directly impacting the sales of sports nutrition products.
Spurred by this, the global sports nutrition demand will increase at an impressive CAGR of 9.3% by the end of 2031. Sales of sports nutrition will total US$ 19,302.2 Mn in 2021, reaching a shipment of 737,780 MT.
Demand for flavored energy drinks and energy bars among fitness enthusiasts have burgeoned significantly, especially in the developed nations including the U.S., the U.K. and Germany.
With the emergence of online fitness centers and health classes, sales of sports nutrition energy bars and ready to drink sports beverages have spiked tremendously. Manufacturers are therefore entering into alliances with local and regional fitness centers to capitalize on existing opportunities.
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Key Takeaways from FMI’s Sports Nutrition Market Study
- Trend for veganism and healthy lifestyle among fitness enthusiasts will drive the sales of plant-derived ingredient sports nutrition. This segment is expected to hold maximum share in the global market.
- In terms of nature, organic segment will exhibit higher growth as compared to conventional backed by the rising demand for natural and organic products
- For B2C, flavored sports nutrition beverages are expected to remain dominant throughout the forecast period
- Expansion of online fitness and retail channels will spur the sales of sports nutrition, exceeding a valuation of US$ 64.1 Bn by 2031
- The U.S. is expected to be the most lucrative market across North America during the assessment period
- India will emerge as a lucrative market backed by the rising demand for organic sports nutrition products in the country
“Growing prevalence of obesity across the globe is pushing the people to opt for healthy lifestyle. With emergence of online fitness centers and health classes, manufacturers are forging partnerships and alliances with local and regional fitness centers generating lucrative revenues,” says the FMI analyst.
Nestlé S.A., Red Bull GmbH, Ajinomoto Co., Inc., Keurig Dr. Pepper, Inc., Nutrabolt, GlaxoSmithKline plc., Optimum Nutrition, Inc., Premier Nutrition Corporation, Biothrive Sciences, Nutrabolt, Now Foods, INC Sports Nutrition, Vitaco Health, and Uelzena Group. among others are some prominent players operating in the sports nutrition market.
Presence of numerous industry players in sports nutrition market has led to intense competition in the market. Key players are focusing on product introduction and launches for the expansion of their product portfolio.
Some of the leading companies are highly focusing on research and development through academic collaborations, lateral collaborations, and customer focused groups. Manufacturers are also focused on building their brand image through innovative marketing campaigns.
Herbalife Nutrition, leading global nutrition company announced its official partnership for Team India in Tokyo Olympics 2021.
In May 2021, Amazentis, an innovative life sciences company pioneering scientific breakthroughs in nutrition, announced the initiation of a new clinical study to evaluate Mitopure for muscle recovery, endurance, and running performance benefits in top athletes.
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Key Points Covered in Sports Nutrition Market Study
- Market estimates and forecast 2021-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Sports nutrition tools market and How to Navigate
- Recommendation on Key Winning Strategies