Sports Nutrition Market To Witness A Significant Growth Of USD 82.3 Billion By 2030


 San Francisco, 12 Apr 2022: The Report Sports Nutrition Market Size, Share & Trends Analysis Report By Product Type, By Application, By Formulation, By Consumer Group (Age Group & Activity), By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030

The global sports nutrition market size is expected to reach USD 82.3 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.5% from 2022 to 2030. Consumer awareness regarding health and wellbeing is contributing to market growth. People are actively involved in various health and fitness activities. For instance, according to the AusPlay Survey 2021, 83.3% of women and 79.4% of men participate in sports and physical activity at least once a week in Australia. Additionally, consumers with lifestyle diseases are growing.

For instance, according to a National diabetes statistic report published in 2021 by the Centers for Disease Control and Prevention, 10% of U.S. adults are suffering from diabetes while 34.5% are suffering from prediabetes. According to the National Health Services, hospital admission where obesity was a factor increased by 17% from 2018-19 to 2019-2021 in the U.K. The COVID-19 pandemic has rapidly increased public awareness pertaining to health and fitness. Thus, the growing awareness regarding health and rising participation in fitness activities are estimated to drive the market.

Sports nutrition products offer different benefits. These products can be used for increasing endurance, strength training, weight management, muscle growth, energy, recovery, cognitive repairmen, and immunity enhancement. Moreover, a large number of products including gummies, tablets, softgels, powders, and bars are easily available through different distribution channels including specialty stores, small retail stores, fitness institutes, grocery stores, general discount stores, discount clothing retailers, and online stores. The COVID-19 pandemic positively impacted online sales with increasing customers purchasing supplements from the online sales channel.

Key stakeholders operating in the market are introducing various products and adopting strategies such as mergers & acquisitions and collaborations, which, in turn, is driving the market. For instance, in July 2021, Science in Sport introduced a new product range known as Beta Fuel for carbohydrate fueling. This product range includes gel, drink powder, and chew bar with a new maltodextrin-fructose ratio. The product was formulated after years of research at Liverpool John Moores University in collaboration with athletes. In September 2021, Dr. Rob Wildman launched a new sports nutrition brand known as It’s my opus. The brand includes products such as pre-workout micronized creatine, whey isolate, and DHA omega 3. Thus, the development of new and innovative products is increasing the consumer adoption of sports nutrition products, thereby driving the market during the forecast period.

Access Research Report of Sports Nutrition Market @ https://www.grandviewresearch.com/industry-analysis/sports-nutrition-market

Sports Nutrition Market Report Highlights

  • The sports supplements segment emerged as the leading product type segment in 2021 with a revenue share of over 50.0%
  • In terms of application, the post-workout segment accounted for the largest revenue share in 2021
  • By formulation, powder accounted for the largest revenue share in 2021. The gummies segment is projected to expand at the fastest CAGR during the forecast period
  • Based on consumer group, the adult segment accounted for the largest revenue share in 2021. It is also expected to emerge as the fastest-growing segment during the forecast period
  • On the basis of distribution channel, the brick and mortar segment accounted for the largest revenue share in 2021. The e-commerce segment is projected to expand at the fastest CAGR during the forecast period
  • North America accounted for the largest revenue share of over 45.0% in 2021. In the North American market, Canada is projected to expand at the fastest CAGR during the forecast period

List of Key Players of Sports 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

Access Press Release of Sports Nutrition Market @ https://www.grandviewresearch.com/press-release/global-sports-nutrition-market

 

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