Increasing popularity of fitness and self-care along with rising number of fitness centers and health clubs are prominently expected to drive the Global Sports Nutrition Market during the forecast period.
The Global Sports Nutrition Market was valued at USD 24.25 billion in the base year 2020, and is projected to reach USD 47.92 billion by 2027, with a CAGR of 10.2% during the forecast period (2017-2027).
The major factor attributing to the growth in sports nutrition market is the growing popularity of fitness, self-care and preventive medication among people. The mounting cases of lifestyle diseases such as obesity and diabetes are rapidly increasing across the globe. As per the data released by International Diabetes Federation, in 2019, 463 million adults between the age group of 20-79 years suffered from diabetes and is projected to reach at 700 million by 2045. The increasing consumption of packaged and processed food is resulting in decreasing nutritional level in the human body. In addition, long working hours and a busy lifestyle are posing several challenges in healthy eating patterns and thus, leading to anxiety, weakness, depression, and other health-related issues. Therefore, to serve this nutrition gap, consumers are rapidly inclining towards nutritional products and sports supplements which is thereby impacting the growth of global sports nutrition market. Various sports nutrition such as protein powders, creatine, supplement powder, protein and energy bars are widely being adopted as they help in maintaining sufficient nutrition and energy level in the human body for the entire day. In addition, these sports nutrition solutions further help in delaying onset fatigue, improves body composition & strength and reduces the risk of stomach aches and heat cramps. Owing to these factors, increase in the participation of fitness activities and growing awareness of various sports supplements is expected to augment the sports nutrition market during the forecast period.
Moreover, increase in the number of fitness centers and health clubs has also immensely impacted the global sports nutrition market. The growing emphasis on staying healthy and in shape has resulted in rising demand for health clubs, gyms and sports clubs which is majorly driving sports nutrition market. Based on a study conducted by International Health, Racquet and Sports club Association (IHRSA), the number of health club consumers in U.S. has increased by 27% during 2010-2019. Most of these health clubs recommend the use of nutrition bars, protein supplements, energy drinks, and similar sports nutrition products on a daily basis due to the benefits associated with these products. These sports nutrition products offer several advantages to the consumer such as improving concentration, helps in training harder and longer, reduces the potential for injuries and promotes optimal recovery post workouts. Therefore, increasing number of fitness centers and health clubs along with growing adoption of sports nutrition products is prominently driving the global sports nutrition market.
Furthermore, the health and supplements market is continuously evolving itself by introducing new products to suit the taste and preferences of different strata of consumers from varied age groups. This is leading to an increase in the investment on Research and Development by stakeholders for bringing innovative sports nutrition products, which is thereby influencing the global sports nutrition market. For instance, in October 2020, Synergy announced the launch of its plant-based protein products in a variety of new flavors including strawberry, chocolate, vanilla, combined with other dessert-inspired and coffee-based flavors to fulfil the requirements of its varied customer base. In addition, in February 2019, InnovoPro Ltd which is an Israel based nutrition start-up announced to introduce vegan chick-pea protein powder to meet the growing demand for nutritional vegan products. Therefore, rapidly rising innovation in the sports nutrition products is also majorly fuelling the demand for sports nutrition market across the globe.
Global Sports Nutrition Market by Region Outlook (Revenue, USD Billion, 2017-2027)
Based on region, Asia-Pacific is the fastest growing region in global sports nutrition market and is expected to dominate the market during the forecast period. In this region, Japan holds a significant share in the sports nutrition market as sports is an integral part of the Japanese culture. Several traditional sports, such as sumo and martial arts, along with popular western sports like baseball and football in the country are responsible for growing sports nutrition market in the region. Sports drink is the most popular and demanding sports nutrition product consumed by Japanese. Therefore, increasing consumption of sports drinks and other nutrition products in the country is driving the sports nutrition industry. Moreover, growing hectic lifestyles of consumers in the developing economies such as China and India, are paving way for sports nutrition food as a convenient food choice after exercising. In addition, rapid growth in the number of health centers and gyms in this region along with improved accessibility and awareness of sports nutrition products is majorly driving the sports nutrition market in this region.
The Global Sports Nutrition Market Segmentation:
Global Sports Nutrition Market End-User Outlook (Revenue, USD Billion, 2017-2027)
Global Sports Nutrition Market Type Outlook (Revenue, USD Billion, 2017-2027)
Global Sports Nutrition Market Distribution Channel Outlook (Revenue, USD Billion, 2017-2027)
Key Findings:
Company Profiles and Competitive Intelligence
The key players operating in the global sports nutrition market are:
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