Sports Supplement Market size is set to grow by USD 2.77 billion from 2024-2028, Increased participation in sports and fitness activities boost the market, Technavio

NEW YORK, June 5, 2024 /PRNewswire/ -- The global sports supplement market size is estimated to grow by USD 2.77 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 9.64%  during the forecast period. 

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Market Driver

The sports supplement market has experienced significant growth due to the convenience of online shopping. Retailers enhance the experience through education, live chats, and employee testimonials.

The rise in interest in sports nutrition products and the popularity of e-commerce have increased online sales, accounting for 14.3% of total retail sales in the US in Q3 2020. Strong online distribution channels, such as Walmart and Amazon, further boost growth, enabling vendors to target global customers, improve efficiencies, and offer customized products. 

The sports supplement market is thriving with various products designed to enhance performance and improve nutrition for athletes. Proteins, amino acids, and vitamins are popular categories in this market. Acids, such as creatine and beta-alanine, are also in high demand. Probiotics and prebiotics are gaining traction due to their role in gut health and immunity.

Height and weight gain supplements are popular among bodybuilders and athletes looking to increase muscle mass. Dietary supplements, such as multivitamins and minerals, are essential for maintaining overall health and wellness. The market is expected to grow significantly in the coming years due to increasing awareness and demand for performance-enhancing supplements. 

Market Challenges

• The sports supplement market faces a significant challenge with the rise of counterfeit products. These imitations, using substandard ingredients, pose health risks and damage brand reputations. European markets, for instance, have seen counterfeit Craze supplements. Unauthorized production and lower pricing harm leading brands, reducing market shares.
• Lack of legislation and local supply chain surveillance increases costs for vendors, hindering revenue growth. Consumers may form negative perceptions if intended results aren't met. Counterfeits hinder the sports supplement market's growth during the forecast period.
• The sports supplement market faces several challenges. Profiles of athletes and consumers vary, requiring different nutritional needs. Consumers seek effective and healthy products, but understanding the science behind ingredients can be difficult. Regulations and certifications add complexity.
• Finances and logistics impact supply and distribution. Consumers desire personalized solutions, but customization can be costly. Brands must balance innovation with affordability. Competition is fierce, requiring effective marketing strategies. Consumers demand transparency, making labeling and sourcing crucial. Delivering high-quality, consistent products is essential. Staying informed of trends and consumer preferences is key to success.

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Segment Overview 

1. Type 
• 1.1 Protein
• 1.2 Non-protein
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Protein-  The Sports Supplement Market caters to athletes and fitness enthusiasts seeking to enhance their performance and recovery. Key players include brands like Optimum Nutrition, MuscleTech, and Dymatize. They offer various supplements such as protein powders, creatine, and amino acids. Consumers prioritize quality, affordability, and convenience when making purchases. The market's growth is driven by increasing health consciousness and the popularity of fitness trends. Companies invest in research and development to create innovative products and maintain a strong market presence.

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Research Analysis

The Sports Supplement Market caters to the nutritional needs of athletes, fitness enthusiasts, and professional sportsmen. Electrolyte replenishment products, available in drinks, powders, capsules, and tablets, play a crucial role in athletic performance and physical health. Sports nutrition, including protein powders and pre-workout formulations, supports muscle growth and energy absorption during intense training routines.

Fitness culture encourages the use of specialized nutrition products, energy bars, and ready-to-drink protein drinks. Hectic lifestyles have led to the popularity of online stores and delivery services for easy access to nutritional supplements. Branched-chain amino acids are essential components of many sports supplements, contributing to improved physical goals and overall well-being.

The Sports Supplement Market encompasses a variety of products designed to enhance athletic performance and improve physical fitness. These supplements can be found in various forms, including powders, capsules, tablets, and liquids. Common ingredients in sports supplements include proteins, creatine, amino acids, vitamins, and minerals. Consumers use these supplements to build muscle, increase strength, boost endurance, and support recovery after workouts.

The market for sports supplements is growing rapidly due to increasing awareness of health and fitness, as well as the desire to optimize athletic performance. Consumers turn to sports supplements to help them achieve their fitness goals and improve their overall well-being. The market offers a wide range of options to cater to different needs and preferences, making it an essential part of the health and fitness industry.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Protein
• Non-protein
• Distribution Channel
• Offline
• Online
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio