WASHINGTON, Aug. 23, 2023 (GLOBE NEWSWIRE) -- According to a report published by Vantage Market Research, the Sports Nutrition Market is on the rise, with a projected value of USD 77.95 Billion by the year 2030. This is a significant increase from the current value of USD 42.12 Billion in 2022. The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.00% over the next few years. This highlights the increasing demand for sports nutrition products and the importance of maintaining a healthy lifestyle.
The Sports Nutrition Market is a dynamic and rapidly growing sector that revolves around providing dietary supplements, foods, and beverages tailored to enhance athletic performance, aid recovery, and promote overall well-being. This industry is propelled by a fusion of factors, including the increasing awareness of the importance of nutrition in sports, the surge in health and fitness consciousness among the global population, and the rise of various sports and fitness activities. As individuals seek to optimize their physical endeavors, the demand for specialized nutrition solutions has surged, creating a vibrant marketplace for sports nutrition products.
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Top Report Findings:
- The global Sports Nutrition Market is projected to achieve a CAGR of 8.00% between 2023 and 2030.
- North America and Europe remain the largest markets for sports nutrition products, driven by heightened fitness consciousness and disposable income.
- The increasing adoption of sports nutrition products among women and older adults presents untapped market potential.
- Online retail channels have gained prominence, attributed to convenience and a broader product range.
Top Companies in the Global Sports Nutrition Market
- PepsiCo
- Cliff Bar
- The Coca-Cola Company
- MusclePharm
- The Bountiful Company
- Iovate Health Sciences
- Abbott
- Quest Nutrition
- Post Holdings
- BA Sports Nutrition
- Cardiff Sports Nutrition
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Market Dynamics: https://www.vantagemarketresearch.com/buy-now/sports-nutrition-market-1532/0
The Sports Nutrition Market is driven by an amalgamation of factors that collectively shape its growth trajectory. The convergence of technological advancements, which enable the creation of innovative and effective formulations, with the widespread use of social media platforms for fitness inspiration and information dissemination, has fueled consumer interest in sports nutrition products. Additionally, endorsements and sponsorships by prominent athletes have contributed to the mainstream acceptance of these products. As consumers increasingly prioritize health and well-being, sports nutrition has transcended niche appeal to become a pervasive trend.
Top Trends:
- Plant-Based Revolution: The market has witnessed a shift towards plant-based and vegan sports nutrition products, catering to the growing vegan and vegetarian population seeking sustainable and ethical choices.
- Personalization and Customization: Companies are harnessing data-driven insights to offer personalized nutrition plans, leveraging technologies like wearables and apps to tailor recommendations to individual goals and needs.
- Clean Labels and Natural Ingredients: Consumers are gravitating towards products with transparent ingredient lists, free from artificial additives and preservatives, in line with their preference for natural and wholesome nutrition.
- Functional Ingredients: The integration of functional ingredients such as probiotics, adaptogens, and collagen is on the rise, addressing not only performance but also recovery and holistic well-being.
- E-Commerce Expansion: The proliferation of e-commerce platforms has transformed the retail landscape, allowing consumers easy access to a wide array of sports nutrition products, irrespective of geographical boundaries.
Global Sports Nutrition Market Segmentation
- Product Type
- Sports Supplements
- Sports Drinks
- Sports Foods
- Meal Replacement Products
- Weight Loss Products
- Application
- Pre-Workout
- Post-Workout
- Weight Loss
- Others
- Formulation
- Tablets
- Capsules
- Powder
- Soft Gels
- Liquid
- Gummies
- Consumer Group
- Children
- Adult
- Geriatric
- Consumer Group by Activity
- Heavy Users
- Light Users
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Challenges:
In spite of its promising growth trajectory, the Sports Nutrition Market encounters certain challenges: While the demand for natural and clean label products is on the rise, formulating products without compromising taste and texture remains a challenge. Regulatory complexities around health claims and labeling can hinder product development and marketing strategies. The perception of sports nutrition as relevant only for professional athletes might limit its reach among the general population.
Opportunities:
Amidst these challenges, the Sports Nutrition Market presents several opportunities: Investment in research and development to create innovative formulations that strike a balance between nutritional efficacy and sensory experience. Expansion into emerging markets where the fitness and wellness trend is gaining momentum. Collaborations with fitness influencers and wellness coaches to endorse and educate about sports nutrition's benefits.
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Recent Development
- June 2023:
- Glanbia plc, a global nutrition and ingredients company, acquired California-based sports nutrition brand Naked Nutrition for $500 million.
- PepsiCo, Inc., a global food and beverage company, launched a new sports nutrition brand called Simply Better.
- The Coca-Cola Company, another global food and beverage company, announced that it would invest $5 billion in the sports nutrition market over the next five years.
- July 2023:
- The maker of MuscleTech, CytoSport, Inc., was acquired by Glanbia plc for $1.6 billion.
- The maker of Quest Nutrition, The Nature's Bounty Co., was acquired by Barilla Group for $1.5 billion.
- The maker of Vega, The Hain Celestial Group, Inc., was acquired by Danone for $10.4 billion.
- August 2023:
- Herbalife Nutrition Ltd., a global nutrition company, announced that it would invest $1 billion in the sports nutrition market over the next five years.
- GNC Holdings, Inc., a global health and wellness retailer, announced that it would open a new chain of sports nutrition stores called GNC Performance.
- The maker of ON Protein, Optimum Nutrition, Inc., was acquired by Glanbia plc for $4.8 billion.
Key Questions Answered in the Report:
- What are the primary drivers propelling the growth of the Sports Nutrition Market?
- How are technological advancements shaping the landscape of sports nutrition products?
- What role does personalization play in the formulation and marketing of sports nutrition offerings?
- How are plant-based and vegan products disrupting the traditional Sports Nutrition Market?
- What challenges do manufacturers face in ensuring clean label formulations without compromising taste and quality?
- What are the regulatory hurdles impacting the marketing and distribution of sports nutrition products?
- How is the Sports Nutrition Market adapting to the changing preferences of women and older adults?
- What strategies can companies employ to tap into the potential of online retail channels for sports nutrition?
Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Sports Nutrition Market Forecast Report (2023-2030).
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 42.12 Billion |
| Revenue Forecast by 2030 | USD 77.95 Billion |
| CAGR | 8.00% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 20230 |
| Key Players | Iovate Health Sciences, Abbott, Quest Nutrition, PepsiCo, Cliff Bar, The Coca-Cola Company, MusclePharm, The Bountiful Company, Post Holdings, BA Sports Nutrition, Cardiff Sports Nutrition. |
| Customization Options | Customized purchase options are available to meet any research needs Explore customized purchase options https://www.vantagemarketresearch.com/sports-nutrition-market-1532/customization-request |
Regional Analysis:
North America: In North America, the Sports Nutrition Market is thriving due to a confluence of factors. The region's deep-rooted fitness culture, coupled with a growing emphasis on healthy living, has led to widespread adoption of sports nutrition products. The United States and Canada have emerged as key markets, driven by increasing consumer awareness, rising disposable incomes, and robust distribution networks. Moreover, the proliferation of wellness influencers and celebrity endorsements has further fueled the demand for sports nutrition offerings. As the trend of holistic well-being gains momentum, North America is poised to maintain its dominance in the global sports nutrition landscape.
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