GLOBAL SPORTS NUTRITION MARKET (2024 - 2030)

The Global Sports Nutrition Market witnessed a valuation of USD 44.29 Billion in 2023, with projections indicating an anticipated market size of USD 76.02 Billion by the conclusion of 2030. During the forecast period spanning from 2024 to 2030, the market is poised to exhibit growth at a Compound Annual Growth Rate (CAGR) of 8.02%.

Industry Overview:

The domain of sports nutrition encompasses the consumption of nutrient-dense sustenance. This segment includes a range of products such as sports drinks, nutritional supplements, protein powders, and protein bars. Individuals engaged in athletic pursuits and those seeking an active lifestyle integrate these products into their routines, aiming to achieve diverse fitness objectives such as augmenting lean mass and enhancing body composition. Moreover, these offerings endeavor to mitigate the adverse impacts of physical fatigue, injuries, and delayed recovery on the performance of athletes. Optimal performance necessitates adherence to proper dietary and nutritional regimens. The utilization of sports nutrition merchandise is rapidly gaining traction among fitness enthusiasts and individuals embracing an active way of life. Consumers are employing these products to bolster energy levels, enhance muscle mass, and facilitate weight loss. The prevalence of lifestyle ailments like obesity is on the rise, which is expected to amplify the consumption of sports nutrition items. A study featured in the New England Journal of Medicine forecasts that by 2030, nearly half of the U.S. populace may be affected by obesity. Concurrently, Eurostat estimates indicate that 52.7% of citizens in the European Union are grappling with overweight issues. As the incidence of obesity escalates, the demand for sports nutrition solutions tailored for weight management is anticipated to rise correspondingly. Additionally, the market's growth trajectory is foreseen to be bolstered by the availability of diverse formulations such as ready-to-drink options, bars, gels, and powders. Manufacturers are enhancing the nutritional profiles of their offerings by incorporating novel flavors and beneficial constituents. Ready-to-drink products, for instance, are being enriched with natural additives, lower sugar content, and caffeine. To foster product uptake and stimulate sales, players within the market are actively engaged in initiatives encompassing new product development, collaborative ventures, and partnerships.

Impact of COVID-19 Pandemic on Sports Nutrition Market

The realm of sports nutrition witnessed a decline in supplement sales amid the COVID-19 pandemic, as consumers gravitated towards procuring essential commodities. The global sports nutrition market experienced a contraction of 33.5% between 2019 and 2020. Furthermore, the sales of sports nutrition products bore the brunt of the temporary closures enforced upon gyms, health clubs, sports institutes, and fitness centers. The pandemic-induced disruptions extended to the sporting calendar, affecting several pivotal sports events in 2020, thereby impeding the large-scale sales of sports nutrition products associated with these events. Noteworthy international sporting gatherings such as the Tokyo Olympics and Paralympics, along with the UEFA Football event, were among those postponed due to the pandemic. These events typically serve as platforms that not only boost the consumption of sports nutrition products but also serve as promotional avenues. Concurrently, the year 2020 witnessed a surge in the online sales of sports nutrition items, as an increasing number of consumers turned to e-commerce platforms for their purchases. The heightened awareness regarding leading a healthy lifestyle is poised to fuel the demand for sports nutrition products. Since the onset of the COVID-19 outbreak, consumers have become particularly discerning about the nutritional content of their diets. In response to this evolving trend, major manufacturers are ramping up the production of organic and natural sports nutrition beverages, as well as protein powders, anticipating the potential for expansion within this niche.

MARKET DRIVERS:

The surging participation in fitness clubs, coupled with the proliferation of health clubs, is propelling the sports nutrition market forward.

The burgeoning popularity of sports nutrition products, especially among athletes and individuals engaged in rigorous physical activities, has been accelerated by the burgeoning count of health clubs, gyms, and fitness centers. Factors such as heightened engagement in sports, a growing emphasis on maintaining optimal health, the pursuit of a fit physique, and the escalating urbanization trends are expected to underpin the sector's growth. Furthermore, the rising incidence of various ailments has bolstered consumer awareness regarding the significance of adopting healthy dietary habits and lifestyles. Consuming a protein-rich diet on a consistent basis has the potential to mitigate the prevalence of chronic diseases and lifestyle disorders.

The escalating demand for flavorful, healthful beverages is driving sales within the sports nutrition market.

In response to the escalating consumer preference for convenient products, manufacturers are diversifying their portfolios to include a plethora of flavored sports nutrition offerings. As per findings by FMI, approximately 60% of consumers exhibit a preference for flavored sports nutrition products over conventional protein powders, citing reasons such as time efficiency, enhanced taste profiles, and improved nutritional profiles. Furthermore, to remain competitive within the market landscape, industry rivals are investing in the development of more palatable offerings. Energy bars and ready-to-drink (RTD) sports beverages are now available in an array of flavors ranging from chocolate to vanilla and beyond, presenting a formidable challenge to conventional chocolate bars and carbonated beverages. Urban consumers, in particular, favor these flavorful, healthful beverages over energy drinks laden with artificial preservatives. The soaring demand for flavored RTD sports nutrition beverages can be attributed to the lifestyles of consumers characterized by hectic schedules. These beverages, enriched with electrolytes and supplementary nutrients, not only alleviate fatigue but also cater to individuals grappling with hypoglycemia.

MARKET RESTRAINTS:

The trajectory of the sports nutrition market is anticipated to witness restrained growth due to the adverse perception among consumers concerning adulterated products.

The tarnished image associated with products that are adulterated with banned substances such as prohormones, anabolic steroids, and stimulants is poised to impede the adoption of sports nutrition solutions. Consequently, this factor could potentially hinder the market's growth trajectory during the forecast period. Instances of companies being prosecuted by the FDA for marketing supplements containing steroids or steroid precursors serve as a testament to the stringent regulatory measures in place. Through regulatory bodies such as the FDA and the FTC, the federal government possesses the authority to remove contaminated products from the market, thereby curbing the operations of corporations that introduce adulterated products accompanied by false health claims.

The dearth of knowledge among individuals regarding the benefits associated with utilizing sports nutrition products could serve as a barrier for major players within the sports nutrition industry.

Numerous athletes often fail to adhere to optimal nutritional guidelines aimed at enhancing their athletic performance. Factors such as limited nutritional knowledge, inadequate practical skills in selecting and preparing meals, dietary extremities, and constrained access to food, especially amidst hectic lifestyles and frequent travel engagements, collectively contribute to impeding the widespread adoption of sports nutrition. Practical nutritional education, encompassing strategies pertaining to dietary choices, as well as crucial decisions concerning food and fluid consumption, stands poised as a pivotal step towards attaining sound nutrition objectives.

Sports Nutrition Market – By Product Type

• Protein Powder
• Sports Drinks
• Sports Supplements
• Energy Bars
• Others

Categorized by product type, the Sports Nutrition Market comprises Protein Powder, Sports Drinks, Sports Supplements, Energy Bars, and Others. In 2021, the Sports Supplements segment held a significant revenue share exceeding 50.0%. The growth of sports supplements is propelled by the increased consumption of protein supplements such as whey protein, along with the availability of a diverse range of plant proteins such as soy, spirulina, hemp, rice, pumpkin seed, and pea.

The Protein Powder segment commands a substantial market share due to its extensive use in sports nutrition products, closely followed by Sports Drinks, which represent the most recognized form of sports nutritional products available. Moreover, an increase in protein consumption by athletes and fitness enthusiasts for muscle development is anticipated to drive market growth. The availability of a broad selection of protein supplements at major retailers like Amazon, Walmart, and Vitamin Shoppe is expected to further bolster the growth of the Protein Powder segment.

The Energy Bars segment is projected to experience growth fueled by the escalating demand for healthy snacking options for weight management, attributed to the rising prevalence of obesity. Energy bars are gaining popularity as convenient on-the-go snacks. Additionally, companies are focusing on innovating sports nutrition products such as gels. Consumers exhibit a growing interest in products like energy bars and sports nutrition offerings available in diverse flavors such as fruit, chocolate, vanilla, among others. Key players are introducing new flavor combinations for beverages and energy bars, such as chocolate-vanilla sports nutrition drinks and energy bars.

Sports Nutrition Market – By End User

• Athletes
• Lifestyle Users
• Bodybuilders
• Others

Segmented by end-users, the Sports Nutrition Market consists of Athletes, Lifestyle Users, Bodybuilders, and Others. The Lifestyle Users category commands the largest market share. This category includes individuals who engage in casual exercise to maintain fitness or seek to consume healthy foods and snacks. The demand within the lifestyle segment has risen due to increased consumer awareness, with a notable surge in plant-based sports nutrition products owing to the recognized benefits among consumers.

Sports Nutrition Market – By Distribution Channel

• Supermarkets and Hypermarkets
• Drugs and Specialty Stores
• Fitness Centers
• Online Channels
• Others

The global Sports Nutrition Market is divided into Supermarkets/Hypermarkets, Drugs and Specialty Stores, Online Channels, Fitness Centers, and Others based on distribution channels. Supermarkets and Hypermarkets emerge as the preferred locations for purchasing sports nutrition products due to their convenience and extensive product variety. A wide range of products is readily available in brick-and-mortar establishments such as specialty stores, fitness centers, grocery stores, small retail outlets, and general discount stores. The substantial revenue share is also influenced by customer loyalty programs and membership incentives offered by these establishments.

The online channels segment is projected to witness the highest Compound Annual Growth Rate (CAGR) in the global sports nutrition market during the forecast period. The surge in online commerce, particularly boosted by COVID-19 lockdowns, contributes to this growth. Major e-commerce platforms like Amazon are diversifying into sports nutrition to capitalize on the industry's expansion. The availability of discounts on various supplements serves as a significant driver for the increased use of online channels for purchasing sports nutrition products.

Sports Nutrition Market – By Formulation:

• Tablets
• Capsules
• Powder
• Soft gels
• Liquid

Sports Nutrition Market - By Region:

• North America
• Europe
• Asia-Pacific
• Rest of the World

In 2021, the North American Sports Nutrition Market recorded the largest revenue share, exceeding 45.0%. This can be attributed to the widespread adoption of supplements, the proliferation of health clubs and fitness centers, and the growing awareness of health and well-being. The region's increasing trend toward veganism has led to a substantial demand surge for plant-derived components in sports nutrition products. The recognition of the benefits of soy protein and pea protein is further bolstering the sector. Additionally, the market's expansion is fueled by the presence of numerous companies employing diverse strategies.

The European Sports Nutrition Market is expected to demonstrate significant growth during the forecast period. Factors such as increasing sports participation, rising health consciousness, heightened expenditure on fitness and well-being, and initiatives by public and private entities contribute to this growth. With rising obesity rates, consumers in the region are increasingly investing in sports nutrition healthy beverages and protein-energy snacks. Notably, high consumer uptake in countries such as Germany, the United Kingdom, and France is poised to propel market growth.

The Asia Pacific Sports Nutrition Market is forecasted to witness the fastest growth rate during the projected period. Increased awareness of the importance of a balanced diet coupled with achieving specific fitness goals is driving consumer demand for sports nutrition. Rising expenditure on fitness and well-being further enhances market profitability. Particularly in countries like India and China, sports nutrition food is gaining popularity.

Key Players in the Market

1. Iovate Health Sciences
2. Post Holdings
3. Quest Nutrition
4. PepsiCo
5. Glanbia PLC
6. The Coca-Cola Company
7. Cliff Bar
8. The Bountiful Company
9. MusclePharm
10. BA Sports Nutrition
11. Cardiff Sports Nutrition

Recent Developments in the Global Sports Nutrition Market:

• Product Launch: In January 2022, Hydroxycut, a sports nutrition brand under Lovate Health Sciences, introduced "Cut," an energy drink aimed at reducing body fat percentage.
• Product Launch: In February 2021, Ready, a sports nutrition company, unveiled a sports drink featuring superfruits in flavors such as blue raspberry, peach mango, fruit punch, orange passion, mixed berry, berry lemonade, strawberry banana, and black cherry.
• Acquisition: In April 2021, Unilever acquired Onnit, a sports nutrition company, to expand its wellness and lifestyle portfolio.
• Product Launch: In June 2021, Otsuka Pharmaceutical Factory launched HINEX E-Gel and HINEX E-gel LC, concentrated liquid diet foods infused with collagen and soybean peptides.
• Collaboration: In June 2021, elite athletes Mathieu Flamini and MesutOzil, along with the University of Westminster, collaborated to launch UNITY brand supplements. The product line includes Energy Sport Pro for peak performance, Mind for improved performance under pressure, Immunity for enhanced immunity, and Recovery for accelerated recovery.
• Acquisition: In June 2021, GenTech Holdings Inc., a prominent player in the premium coffee and functional foods markets, acquired NXTBAR LLC, a leading natural sports nutrition brand.
• Product Launch: In September 2021, Element Nutritional Sciences Inc. introduced JAKTRX Pro Amino, a plant-based amino acid compound boosting muscle protein synthesis by 76%.
• Product Launch: In May 2020, UelzenaeG launched nutrineo food health solutions in collaboration with BioHealth International GmbH (BHI) to develop and produce sports nutrition supplements and dietary foods. This collaboration aimed to leverage both companies' expertise and expand their private label presence in healthcare.