According to Future Market Insight, the global sports nutrition market is likely to reach US$ 61.66 billion by 2033, registering a CAGR of 11.5%. This is a considerable increase from its projected value of US$ 20.77 billion in 2023.
Key Drivers in the Sports Nutrition Industry
- Increasing awareness of nutrition and fitness
- Growing popularity of sports and fitness activities
- Rising disposable incomes in developing economies
- Influence of social media and fitness influencers
- Expansion of gyms, fitness centers, and health clubs
- Increasing participation in sports events and competitions
- Continuous innovation in flavors, formats, and packaging
- Emphasis on maintaining a healthy lifestyle
- Advancements in sports nutrition research
- Demand for natural and organic products
- Focus on product labeling and transparency
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Key Challenges in the Sports Nutrition Industry
- Intense market competition and price wars
- Regulatory restrictions and guidelines on ingredients and claims
- Consumer skepticism and negative perception
- Limited consumer awareness and education
- Potential health risks and side effects
- Fluctuating raw material prices
- Limited availability and distribution channels
- Economic downturns impacting consumer spending
Key Trends in the Sports Nutrition Industry
- The evolution of popular supplements includes protein powders, energy bars, and sports drinks.
- Increasing awareness of the benefits of sports nutrition for performance and recovery
- Specialized products developed for specific fitness goals
- Technology integration for tracking nutrition and performance
- Expansion of female-focused sports nutrition.
Key Opportunities in the Sports Nutrition Industry
- Increasing awareness and demand for sports nutrition among athletes and fitness enthusiasts
- The popularity of sports nutrition supplements and personalized nutrition trends
- Collaboration between brands and athletes for endorsement and development
- Innovation in formulations and clean-label products
- Focus on recovery and muscle repair with post-workout nutrition
- The growing interest in plant-based and vegan sports nutrition
- Rise of e-commerce and online retail for convenient access
- Expansion of the market in emerging economies
Key Takeaways from the Sports Nutrition Market:
- The sports nutrition industry in the United Kingdom is anticipated to rise, exhibiting a CAGR of 3.8% through 2033.
- The United States dominated the sports nutrition industry in 2022, holding a 23.9% global market share.
- In 2022, Japan had a 2.4% share of the sports nutrition industry globally.
- With a CAGR of 25.8% over the forecast period, India is predicted to develop rapidly in the sports nutrition industry.
- The sports nutrition industry in China is expected to increase, registering a CAGR of 4.2% over the forecast period.
- Germany accounted for 5.9% of the global sports nutrition industry in 2022.
Competitive Landscape in the Sports Nutrition Market
Key players employ various measures to preserve their market positions and broaden their global reach. Those strategies involve the following:
- Emphasizing features, quality, and performance to stand out from competitors
- Identifying specific target segments based on demographics, interests, or fitness goals
- Offering specialized programs or services to cater to different customer groups
- Building a strong brand presence through effective marketing campaigns
- Leveraging endorsements and partnerships with influential athletes or fitness influencers
- Utilizing digital marketing channels and social media to engage with target audiences
- Acquiring or partnering with complementary businesses to broaden the product portfolio
- Creating an ecosystem of interconnected fitness products for a seamless user experience
- Collaborating with fitness clubs, gyms, or sports organizations to increase reach and visibility
- Partnering with health and wellness brands to offer integrated solutions
Recent Developments by Key Players
- In December 2022, HealthKart secured a funding round and raised US$ 135 million. Temasek, a wealth fund based in Singapore, primarily led the funding. HealthKart has strategic plans to utilize the funds for expanding the sales of supplements and other nutritional products to new customers.
- In August 2022, Spacemilk, an American sports nutrition brand, and NextFerm Technologies, an Israeli food technology start-up, signed a partnership agreement. The agreement involves the ProteVin supply, a non-GMO protein alternative.
- In January 2022, Cut, an energy drink, was launched by Hydroxycut. Its primary goal is to help consumers reduce their body fat percentage. Hydroxycut, the brand behind ‘Cut,’ operates under the parent company Lovate Health Sciences.
Key Players in the Sports Nutrition Market
- 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
- Uelzena Group
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Key Segmentation:
By Ingredient Type:
- Plant-derived Ingredient
- Soy Protein
- Rice Protein
- Pea Protein
- Potato Protein
- Animal-derived Ingredient
- Creatine
- Milk Protein
- Whey Protein Concentrates
- Casein
- BCAA (Branded Chain Amino Acid)
- Blends
By Nature:
- Organic
- Conventional
B2C
By Function:
- Energizing Products
- Rehydration
- Pre-Workout
- Recovery
- Weight Management
By Product Form:
- Ready-to-drink
- Energy & Protein Bar
- Powder
- Tablets/Capsules
By Flavour:
- Regular
- Flavored
- Fruit Punch
- Berries
- Citrus
- Chocolate
- Vanilla
- Others
By Sales Channel:
- Modern Trade
- Convenience Store
- Specialty Store
- Pharmacy Store
- Online Retail
- Other Sales Channel
By Price Range:
- Economic
- Premium
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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