Sports Nutrition Market Size Worth $72.17 Billion by 2028 at 8.2% CAGR Led by Sports Supplements Segment (40.9% Market Share in 2021) Global Analysis by The Insight Partners

NEW YORK, July 19, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Sports Nutrition Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Sports Supplements, Sports Food, Sports Drinks, and Others), Formulation (Powder, Tablets, Capsules, and Others), and Distribution Channel (Convenience Stores, Supermarkets and Hypermarkets, Specialty Stores, and Others)", the global sports nutrition market size is expected to grow from $41.68 Billion in 2021 to $72.17 Billion by 2028; it is estimated to grow at a CAGR of 8.2% from 2022 to 2028.

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Sports Nutrition Market Report Scope & Strategic Insights:

Sports Nutrition Market: Competitive Landscape and Key Developments

Glanbia Plc, PepsiCo Inc.; The Coca-Cola Company; LOVATE HEALTH SCIENCES; Clif Bar & Company; BULK POWDERS; Abbott; Yakult Honsha Co., Ltd.; MUSCLEPHARM CORPORATION; and GNC HOLDINGS INC. are among the key companies operating in the sports nutrition market. The market players adopt product innovation strategies to meet the evolving customer demands worldwide, which also permits them to maintain their brand name in the global market.

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In July 2022, MusclePharm Corporation announced the launch of FitMiss Energy, a ready-to-drink, zero-calorie functional energy drink constituting 450 mg of branched-chain amino acids, 200 mg of caffeine, and 100% recommended dietary intake of Biotin per can; the product is offered in three refreshing flavors: Mango Sunshine, Pineapple Coco, and Watermelon Waterfall.

In July 2019, MusclePharm Corporation a scientifically driven, performance-lifestyle sports nutrition company, and GNC, a leading health and wellness brand, collectively launched eight ready-to-eat protein snacks.

Companies in the sports nutrition market also focus on partnering, collaborating, and signing contracts with hospitals, diagnostic centers, specialty clinics, and clinics. For instance, in December 2021, Glanbia Co-op acquired a 40% holding in Glanbia Ireland.

Sports nutrition products serve as a source of nutrition for athletes willing to improve their performance and speed up their recovery during strenuous workouts. Sports nutrition products can be consumed by athletes and non-athletes to increase their nutritional intake. Natural elements such as milk, egg proteins, vegetable starch, fibers, sugars, vitamins, minerals, and herbs are used to manufacture these products.

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Product visibility has increased with the growing focus of manufacturers on promoting their products at sports events. These events provide a beneficial platform for promoting and distributing sports nutrition products and spreading awareness of brands. In 2020, the Olympics set the stage for sports nutrition market players, with a spotlight on mental health. Mommersteeg of FrieslandCampina Ingredients flags that whey protein and other protein types are essential for assisting athletes in building muscles and recovering properly after training.

Moreover, many players focus on boosting their immunity to reduce sick days during training or tackle pregame stress, and supplements can assist them in attaining these objectives. According to the secretary-general of the Indian Olympic Association, the synergy between Herbalife Nutrition, the Official Nutrition Partner of Team India, and the Indian Olympic Association creates a sporting platform that leverages science-based nutrition and expertise to optimize the performance and well-being of athletes. Thus, the rising focus of sports nutrition manufacturers on promoting their products at domestic and international events augments the market growth.

An increasing number of health clubs and fitness centers, along with the elevating number of members, would further accelerate the sports nutrition market growth during the forecast period. According to the International Health, Racquet & Sports Club Association, the revenue of the gym industry in the US increased to US$ 32.3 billion in 2018 from US$ 30 billion in 2017, at a 7.8% rate. Furthermore, there were more than 6 billion visits to 39,570 gym facilities in the country in 2018.

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The COVID-19 crisis significantly impacted the sports nutrition market in early 2020. The pandemic has disrupted the sports calendar and derailed some huge events, including the Tokyo Olympics and Paralympics and UEFA Football events, in 2020, which, in turn, hampered the sales of sports nutrition products through such large-scale events.

North America held the largest share of the sports nutrition market in 2021, and the US was the largest contributor to the regional market in North America. The market growth in North America is attributed to the increasing adoption of sports nutrition products by athletes and the presence of a large number of manufacturers and retailers in the region.

Sports Nutrition Market: Segmental Overview

Type-Based Insights:

The sports nutrition market, based on type, is segmented into sports supplements, sports food, sports drinks, and others. In 2021, the sports supplements segment accounted for the largest share. The sports food segment is expected to register at a CAGR of 8.7% during the forecast period. The rising consumption of protein supplements, including whey protein, and the growing availability of plant proteins, such as spirulina, soy, pumpkin seed, rice, hemp, and pea, boost the growth of the market for sports supplements. Moreover, the growing consumption of protein powders and shakes for muscle strengthening among athletes and the gym-going population fuels the market growth. Many retailers—including Amazon, Walmart, and Vitamin Shoppe—offer various protein supplement products in different regions.

Formulation-Based Insights:

Based on formulation, the sports nutrients market is segmented into powder, capsules, tablets, and others. The powder segment held the largest share of the market in 2021; moreover, the same segment is expected to register the highest CAGR during the forecast period.

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Distribution Channel-Based Insights:

Based on distribution channel, the sports nutrients market is segmented into convenience stores, supermarkets/hypermarkets, specialty stores, and others. The convenience stores segment held the largest market share in 2021. It is further expected to record the highest CAGR during the forecast period. The dominance of convenience stores and the continuous expansion in retail channels drive the growth of this segment.

Browse Adjoining Reports:

Sports Nutrition Powders Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product (Sports Drink, Sports Supplements, Sports Foods); Distribution Channel (Ecommerce, Bricks and Mortar)

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Personalized Nutrition Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product Type (Dietary Supplements and Nutraceuticals, Functional Food, Functional Beverage, Digitalized DNA-based Diet, Sports Nutragenomics, Others); Dosage Forms (Tablets, Capsule, Powders, Liquids, Others); Application (Additional Supplements, Medicinal Supplements, Sports Nutrition, Lifestyle Diseases, Inherited Diseases, Others); End Use (Hospitals, Clinics, Home Care, Wellness and fitness centers, Ambulatory Care, Others) and Geography

Parenteral Nutrition Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Nutrient Type (Carbohydrates, Parenteral Lipid Emulsion, Single Dose Amino Acid Solution, Trace Elements, Vitamins & Minerals); End User (Hospitals, Clinics, Others) and Geography

Liquid Filled Hard Capsules Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Large Capsules, Medium Capsules, and Small Capsules); Route of Administration (Oral, Nasal, Vaginal, and Others); Application (Drugs, Vitamins and Mineral, Amino Acids, Peptides and Proteins, Lipids, and Others); Distribution Channel (Hospitals Pharmacies, Retail Stores, Drug Stores, Online Pharmacies and Mail Order Pharmacies, and Others); End Use (Pharmaceutical and Biopharmaceutical Companies, Nutrition Supplement Manufacturers, and Others), and Geography

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