Sports Supplement Market size to increase by USD 2.2 billion from 2022 to 2027, The growing interest in sports and fitness activities boosts the market growth - Technavio

NEW YORK, Oct. 2, 2023 /PRNewswire/ -- The sports supplement market size is expected to grow by USD 2.2 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 8.52% during the forecast period. Increased participation in sports and fitness activities drives the market growth. However, factors such as the presence of counterfeit products may impede market growth. The market is segmented by type (protein and non-protein), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The FREE sample report is available in PDF format 

Key Segment Analysis

The market share growth by the protein segment is significant during the forecast period. The protein segment plays a vital role in muscle repair and growth. There is an increasing adoption of protein supplements by several as part of their training regimen. The main advantage of these supplements is that they offer a convenient and easily digestible source of protein, which helps promote muscle protein synthesis and aids in muscle repair. There is a growing focus on health and fitness which has resulted in increased demand for sports supplements, especially protein-based ones, as people seek convenient solutions to support their fitness goals. In addition, there is a significant growth of non-protein supplements containing caffeine, creatine, beta-alanine, and nitric oxide boosters which have the potential to enhance energy, strength, power, focus, and endurance during exercise. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.

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Geographical Market Analysis 

North America accounts for 46% of the growth of the global market during the forecast. 

Company Insights

The sports supplement market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including Abbott Laboratories, Amway Corp., Ascendis Health Ltd., Associated British Foods Plc, BPI Sports, Clif Bar and Co., Competitive Edge Labs LLC, Glanbia plc, GlaxoSmithKline Plc, Haleon Plc, Herbalife International of America Inc., Meiji Holdings Co. Ltd., MusclePharm, Nestle SA, NOW Health Group Inc., PacificHealth Labs, Pro Action srl, Universal Nutrition, Vitaphar NV, and Weider Global Nutrition LLC.

View the FREE PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

FAQS

• How do the major trends impact the market?
• How big is the North America market?
• How do the key drivers and challenges impact the market?

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation byType

Market Segmentation by Distribution Channel

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.

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SOURCE Technavio