Sport Nutrition Market

The Sports Nutrition Market By Product Type (Sports Drinks And Sports Supplements), By Distribution Channels (Hypermarkets & Supermarkets, E-Commerce, And Others), and by geography is expected to grow at a steady CAGR forecast till 2028 owing to the increasing inclination toward following healthy and active lifestyle and growing importance of sports nutrition among athletes and sportspersons

The global sports nutrition market was valued at USD 42.9 billion in 2022, growing at a CAGR of 7.5% during the forecast period from 2023 to 2028 to reach USD 66.08 billion by 2028. The demand for sports nutrition products is primarily being boosted by the growing inclination toward following a healthy and active lifestyle, the rising number of obese and overweight individuals, the increasing importance of sports nutrition among athletes and sportspersons, the increasing number of gyms, health centers, and others, innovation in product development, and increased marketing for sports supplements and drinks featuring renowned sportspersons as brand ambassadors are further contributing in the overall growth of the sports nutrition market.

Sports Nutrition Market Dynamics:

Nutrition in sports is essential for improving the health, performance, strength, and power of athletes and sportspersons. Sports nutrition helps athletes to perform more effectively and recover more quickly while reducing tiredness and the risk of illness and injury. With increasing participation in sports competitions and tournaments worldwide, the demand for sports supplements and drinks intended for improving the overall health and sports performance of athletes is going to increase and will drive the growth of the sports nutrition market.

The increased marketing for sports nutrition goods featuring renowned sportspersons as brand ambassadors largely assists in the growth of the sports nutrition market. For example, renowned Argentine footballer Lionel Messi is a brand ambassador for PepsiCo’s sports drink brand Gatorade. Athletes are like role models for many including those who belong to the sporting arena and outside the sporting arena. They create a connection between a brand and consumers leading to customer acquisition and an increase in sales.

The increasing inclination towards following a healthy and active lifestyle as a result of growing concern for health and disease-free life among overweight and obese individuals is another factor stimulating the growth of the sports nutrition market. According to the World Obesity Federation 2022, it has been predicted that by 2030 about 1 billion people around the world, including 1 in 5 women and 1 in 7 men, will be living with obesity. Obese and overweight individuals always intend to reduce their weight in a healthy manner which is possible by doing strenuous workouts along with taking weight-loss-supporting sports supplements and drinks on a routine basis.

The increasing recommendations for sports supplements and drinks by experts such as gym trainers and others as assistance for weight-loss training is further going to increase the demand for sports nutrition products among people, thereby positively impacting the growth of the sports nutrition market.

However, lack of knowledge on appropriate dosage leading to certain side-effects and the presence of prohibited substances in sports drinks and supplements may restrict the sports nutrition market growth.

The sports nutrition market was largely impacted during the COVID-19 pandemic owing to lockdown impositions as a measure to prevent the spread of COVID-19 infection which led to the closure of gyms, and sports clubs, and the suspension of sports tournaments across the world. The lack of physical activity and training led to reduced consumption and reduced demand for sports supplements and drinks. Moreover, the manufacturing, processing, supply, distribution, import, export, and other related activities of the sports nutrition market were severely hampered, thereby negatively impacting the growth of the sports nutrition market. Moreover, reduced income and financial instability during the pandemic resulted in a cut back on spending on non-essential and high-cost items such as sports nutrition goods. Nevertheless, the sports nutrition market is in a recovery phase owing to the resumption of activities across all the sectors including the sports and food industry, and due to the rise in the number of overweight and obese individuals post-pandemic, thereby providing ample opportunities for the sports nutrition to grow at significant revenue during the forecast period.

Sports Nutrition Market Segment Analysis:

Sports Nutrition Market by Product Type (Sports Supplements and Sports Drink), Distribution Channels (Hypermarkets and Supermarkets, E-Commerce, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product type segment of the sports nutrition market, the sports drink category is expected to amass a significant revenue share in the year 2022. This can be ascribed to the benefits associated with the consumption of sports drinks. Sports drinks are meant for improving the overall performance of athletes and sportspersons during the actual game as well as during practice or training sessions.

During strenuous workout periods, people tend to sweat and lose electrolytes like sodium, magnesium, calcium, chlorine, and others which can lead to dehydration, injury, muscle cramps, dizziness, and confusion among other health problems. Sports drinks are composed of electrolytes such as sodium and potassium, which offer the best way to stay hydrated and endure longer training periods.

Usually, people consider taking sports drinks based on the intensity, length, duration, and endurance required during the activity but these are highly effective for activities that take more than 40-45 minutes and act as quicker-absorbed fuels for the muscles.

Thereby, considering the growing demand for this product type, numerous new products are being developed and launched in the market. For example, In February 2022, Applied Nutrition, a UK-based sports nutrition company announced the launch of its new L-Carnitine sports drink which is the company’s first L-Carnitine (a compound that supports energy metabolism) RTD beverage in Applied Nutrition’s lineup and is available in three flavors: summer fruits, raspberry and cherry, and apple and blackcurrant. The drink contains zero sugar, zero calories, 1,500mg of L-Carnitine, and vitamins B3, B6 & B12, and it is also rich in minerals.

Therefore, considering the advantages associated with sports drink and their growing popularity, this product category is expected to generate considerable revenue thereby pushing the overall growth of the global sports nutrition market during the forecast period.

North America is expected to dominate the overall Sports Nutrition Market:

Among all the regions, North America is estimated to account for the largest share of the sports nutrition market in the year 2022. Owing to the significance of key growth factors such as the increasing involvement of people in health clubs, gyms, and other fitness centers, the escalating number of obese and overweight individuals in the region, increasing disposable personal income, sophisticated healthcare infrastructure, and fast regulatory approval for new products, in the region.

The increasing number of obese and overweight individuals in the region keen to lose weight and live a healthy and active lifestyle is going to accelerate the growth of the sports nutrition market. As per data provided by the National Health and Nutrition Examination Survey (NHANES) (2021), the prevalence of obesity in 2020 was 41.9% in the US. The source further stated that the rates of severe obesity in the US rose from 4.7% in 2017 to 9.2% in 2020.

The increasing involvement of American citizens in health clubs, gyms, and other fitness centers is going to drive the demand for sports supplements and drinks in the region. As per the data published by the International Health, Racquet & Sportsclub Association (IHRSA) 2022, as of July 1, 2021, there were around 32,270 health clubs in the United States. The source further stated that about 73.6 million Americans were health club consumers in 2019.

As per the above-mentioned source, the total number of visits to the Health club, gyms, and studios was around 6.7 billion in 2019. The people engaged with gyms and other fitness centers are often recommended with consuming sports supplements and drinks to train more efficiently and to maintain overall health and body design.

Hence, the above-mentioned factors are going to propel the growth of the sports nutrition market in the region.

Key Sports Nutrition Companies In The Market:

Some of the key Sports Nutrition companies operating in the  Market include Glanbia PLC, PepsiCo Inc., Iovate Health Sciences International Inc., The Coca-Cola Company, Mondelez International, Inc., Harbin Pharmaceutical Holding Group Co. LLC, Nutramarc Sports Nutrition & Co., Smart Nutrition Products Pvt Ltd., Otsuka Pharmaceutical Co., Ltd., Herbalife International of America, Inc., Weider Global Nutrition, Valio Ltd., Ultimate Nutrition, Lonza, Pantheryx, NUTREND D. S., Ajinomoto Co., Inc., Bright Life Care Private Limited, Vow Nutrition, Universal Nutrition, and others.

Recent Developmental Activities in the Sports Nutrition Market:

• In August 2022, Coca-Cola announced the launch of Limca Sportz, a glucose and electrolyte-based beverage in India.
• In November 2021, Coca-Cola announced that it has acquired full ownership of BODYARMOR, a line of sports performance and hydration beverages
• In February 2021, GoodSport®, a Chicago-based startup announced the launch of a dairy-based sports drink named GoodSport.

Key Takeaways from the Sports Nutrition Market Report Study

• Market size analysis for current sports nutrition market size (2022), and market forecast for 5 years (2023-2028)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the sports nutrition Market.
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global sports nutrition market.
• Various opportunities available for the other competitor in the sports nutrition market space.
• What are the top-performing segments in 2022? How these segments will perform in 2028?
• Which are the top-performing regions and countries in the current sports nutrition market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for sports nutrition market growth in the coming future?

Target Audience who can be benefited from this Sports Nutrition Market Report Study

• Sports nutrition products providers
• Research organizations and consulting companies
• Sports nutrition-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in sports nutrition
• Various End-users who want to know more about the sports nutrition market and the latest innovations and developments in the sports nutrition market.