by The global sports nutrition market encompasses a wide array of nutritional products that are specifically designed to meet the dietary and nutritional requirements of athletes and sports enthusiasts. These products include sports drinks, sports supplements, and sports food. Sports drinks aim to replenish electrolytes and carbohydrates during or after exercise. Sports supplements include protein powders, creatine, BCAAs, and other nutritional ingredients. Sports food products involve meal replacement bars, gels, and sports-specific snacks. Growing participation in sports and fitness activities has considerably boosted demand for high-performance nutrition products and supplements that can enhance endurance, energy, and recovery during and after workouts.
The global sports nutrition market is estimated to be valued at US$ 46.83 billion in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing demand for sports and fitness activities is one of the major drivers fueling growth of the sports nutrition market. According to statistics, over 50 million Americans participate in sports each year. Consumption of sports nutrition products has grown significantly among recreational athletes as well as professionals in order to maximize performance and speedup recovery. Rising health consciousness has also pushed people to adopt active lifestyles through involvement in sports or regular exercise regimes. This in turn boosts demand for customized nutrition to complement physical activities. Rapid penetration of sports supplements and ergogenic aids in developing countries owing to growing disposable incomes further complements growth of the market. Availability of premium and innovative products with focused offerings is also propelling the market expansion over the forecast period. However, side effects associated with intake of certain supplements like creatine coupled with stringent regulations may pose challenges to the smooth growth of the market.
Segment Analysis
The global sports nutrition market can be segmented into sports supplements, sports foods, and sports drinks. Sports supplements dominate the market and account for over 40% market share. They help boost energy levels during workouts and improve muscle gain. The popularity of protein supplements for muscle growth is driving the segment’s growth.
PEST Analysis
Political: Changes in regulations around the use of certain ingredients can impact the market. For example, regulations around caffeine content in energy drinks.
Economic: A growing middle class with higher disposable incomes is increasing spending on health and fitness. This boosts demand for sports nutrition products.
Social: Increased health consciousness and popularity of fitness activities like gymming and marathons is driving the market. People recognize the need for supplements and nutrition products to improve workout performance.
Technological: New delivery mechanisms like gels and shots are gaining traction. innovations in ingredients are expanding the scope of products.
Key Takeaways
The Global Sports Nutrition Market Demand is expected to witness high growth driven by the rising popularity of fitness activities.
Regionally, North America leads driven by the large health-conscious population. Europe is another major market.
Key players operating in the sports nutrition market are SES-Imagotag, Pricer AB, Displaydata, Opticon Sensors Europe B.V, Samsung Electro-Mechanics, NZ Electronic Shelf Labelling, M2Communication, Diebold Nixdorf, Altierre, Teraoka Seiko, Advantech US, E Ink, Toshiba Global Commerce Solutions, SESimagotag, and E-Ink. Some of the key players like Glanbia, Abbott Nutrition, and PepsiCo offer a wide range of supplements, drinks and foods.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
