SAN FRANCISCO, Nov. 8, 2022 /PRNewswire/ — The global sports nutrition market size is expected to reach USD 81.8 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.4% from 2023 to 2030. Rising adoption of fitness activities and diet food is expected to contribute to the market growth.
Key Industry Insights & Findings from the report:
Read 150-page full market research report, “Sports Nutrition Market Size, Share & Trends Analysis Report By Product Type (Sports Supplements, Sports Drinks), By Application, By Formulation, By Consumer Group, By End-user, By Sales Channel, By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
Sports Nutrition Market Growth & Trends
The consumption of sports nutrition products by a large population pool is expected to drive the market. Moreover, the increasing number of health clubs and fitness centers is anticipated to positively contribute to the growth. For instance, Brazil had 29,125 fitness and health clubs operational in 2020, while Mexico had 12,817 health clubs. Furthermore, there has been a noticeable increase in the demand for fitness as consumers seek to exercise and reap the benefits of an active lifestyle.
Rising number of individuals suffering from obesity and increased awareness about health-related issues are expected to boost the demand for supplements during the forecast period. For instance, in North America, the incidence of obesity is growing at an alarming rate. According to the CDC, the prevalence of obesity in the U.S. was 41.9% from 2017 to 2020. Further, an increase in awareness about the role of nutritional supplementation in managing health and leading an active life is fueling the market growth. Increasing popularity of herbal and organic products is also a significant factor driving the market.
Increased use of social media platforms for promotion of nutritional products by the manufacturers and the partnerships undertaken by them with the fitness influencers, bloggers, and nutrition influencers are expected to boost awareness about the products thereby, positively impacting the growth of the market during the forecast period. For instance, MyProtein hired celebrity nutritionist Arunav Bhattacharyya as a brand influencer to promote its brand in India.
Various initiatives such as launch of new products and product innovations are being undertaken by manufacturers, which is driving the market. For instance, in February 2021, Clif Bar & Company launched snacking bars to expand its Luna bars product portfolio. These snack bars comprise prebiotics to support digestive health and act as healthy snacking alternatives or meal replacements. Moreover, the adoption of online platforms has increased considerably due to the COVID-19 pandemic. According to a survey conducted by United Nations Conference on Trade and Development and Netcomm Suisse eCommerce Association, online purchase of pharmaceutical and health products has increased by 9.0%. This, in turn, is driving the nutritional supplements market.
Sports Nutrition Market Segmentation
Grand View Research, Inc. has segmented the global sports nutrition market on the basis of product type, application, formulation, consumer group, end-user, sales channel, and region.
Sports Nutrition Market – Product Type Outlook (Revenue, USD Million, 2016 – 2030)
Sports Nutrition Market – Application Outlook (Revenue, USD Million, 2016 – 2030)
Sports Nutrition Market – Formulation Outlook (Revenue, USD Million, 2016 – 2030)
Sports Nutrition Market – Consumer Group Outlook (Revenue, USD Million, 2016 – 2030)
Sports Nutrition Market – End-user Outlook (Revenue, USD Million, 2016 – 2030)
Sports Nutrition Market – Sales Channel Outlook (Revenue, USD Million, 2016 – 2030)
Sports Nutrition Market – Regional Outlook (Revenue, USD Million, 2016 – 2030)
List of Key Players of Sports Nutrition Market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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