The global sports nutrition market size is expected to reach USD 31.0 billion by 2027, registering a CAGR of 8.9% over the forecast period, according to a new report by Grand View Research, Inc. Increasing importance of an active lifestyle owing to rise in sedentary jobs and shift in demographic base from core athletes to recreational athletes and lifestyle users are the key factors expected to drive the market. Moreover, increasing number of health and fitness centers and gyms, rising consumer awareness regarding the adoption of a healthy lifestyle, and demand for these products from athletes is expected to boost the market growth.
Widespread product availability due to the presence of large companies is expected to drive the demand for these products. For instance, in 2018, Amazon launched its private label sports supplement brand “OWN PWR” for U.S. consumers. Companies such as Glanbia Plc; Abbott Laboratories Inc.; Neutra Science Labs; Hormel Foods Corporation; and GNC Corporation are the key players operating in the market. Moreover, favorable government initiatives to promote health, growing base of health-conscious population, and rising awareness about sedentary health risks further drive the market.
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Moreover, the U.S. population is becoming increasingly health-conscious and hence focuses on adopting an active lifestyle. The International Health, Racquet & Sportsclub Association (IHRSA), a Boston-based, commercial health clubs trade association, reported a 3.6% rise in the number of health club members, from 55.3 million in 2015 to 57.3 million in 2016. The number of health clubs in U.S. increased by 5.2%, from 36,540 in 2016 to 38,447 in 2017. These health clubs and fitness centers have consulting dietitians, which influences the consumption of sports nutrition products among trainers and fitness enthusiasts.
Sports Nutrition Market Report Highlights
• Sports supplements emerged as the largest product segment in 2019 with a share of over 80.0% of the global sports nutrition market owing to increasing commercialization of these supplements and wide product range including creatine and whey protein supplements
• On the basis of distribution channel, bricks and mortar dominated the market in 2019 owing to high consumer base for retail stores
• Ecommerce is projected to be the fastest-growing segment over the forecast period owing to increasing popularity of ecommerce platforms and the associated benefits such as discounts and convenience
• North America dominated the global market in 2019 due to growing awareness about nutritional supplements and rise in government initiatives promoting sports-related activities
• Key players operating in the market include Glanbia plc; Hormel Foods Corporation; General Nutrition Centers, Inc.;Abbott; The Coca-Cola Company; and Clif Bar & Company.
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Sports Nutrition Market Segmentation
Grand View Research has segmented the global sports nutrition market on the basis of product, distribution channel, and region:
Sports Nutrition Product Outlook (Revenue, USD Million, 2016 - 2027)
• Sports Drinks
• Sports Supplements
• Sports Foods
Sports Nutrition Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
• Ecommerce
• Bricks and mortar
Sports Nutrition Regional Outlook (Revenue, USD Million, 2016 - 2027)
• NorthAmerica
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o South Africa
o Saudi Arabia
o UAE
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.