Sports Nutrition Market to Surge at 9.1% CAGR as Consumers Seek Healthier Lifestyle amidst Spread of Coronavirus will continue Growth, says FMI
The global sports nutrition market size is anticipated to reach USD 64.09 Billion by the end of 2030. According to a study by Future Market Insights (FMI), the market is expected to record a strong positive growth trajectory at 9.1% CAGR between 2020 and 2030.
Sports Nutrition Market
A recent market study published by Future Market Insights on the sports nutrition market o...
According to the report, the rising demand for clean label food products and plant based sports nutrition will aid growth in the market.
FMI observes rising demand for products made with free-from artificial ingredients, animal-derived ingredients, and other added ingredients. This is expected to emerge as one of the key growth enablers
The report provides exhaustive overview of the sports nutrition market. It covers prevailing trends, analyses growth drivers and potential restraints. The impact of various strategies adopted by the leading market players is studied as well in detail.
It includes in-depth insights into the sports nutrition market. Some of these are:
- The estimated value of the market was at USD 26.71 Billion in 2020. Through the course of the report’s forecast period, the market is projected to show a cyclic growth curve
- North America accounts for a dominant share in the sports nutrition market. Europe also holds a sizable market share. South Asia is expected to offer business opportunities backed by rising demand from high potential markets in the region
- Key players are likely to focus on promotional activities and TNC investments to widen their reach in emerging markets
- Digital advertising, availability in pharmacies, and heavy discounts on online sales channel are likely lure consumers. FMI identifies these as some of the strategies adopted by market players to gain competitive advantage
Growing Health and Wellness Trends, Rise in Food Fortifications and Change in Commute Patterns will Drive Growth
Rising health consciousness among consumers and increasing spending on fitness and wellbeing will create lucrative prospects for the market. The awareness regarding the importance of a healthy diet besides achieving a certain level of physical fitness will fuel demand for sports nutrition among consumers.
As a result of evolving consumer preferences, food companies are looking into food fortification as an important prerequisite. Higher demand for better nutrition has spurred the process of enriching everyday food with essential proteins, vitamins, and minerals. Food fortification will rise, paving for success in sports nutrition market.
Their consciousness towards healthy eating and living is heightened due to the rising incidence of various diseases. Studies suggest that high protein diet can aid in maintaining health. Resultantly RTD, energy bars, and snacks are gaining popularity among consumers. This also explains the reason behind the rising trend of food fortification.
It is interesting to note that higher adoption of eco-friendly commute will has indirect impact on the sports nutrition market. While the trend is yet to catch up in the East, several developed countries in the West are witnessing increasing commute by bicycles, especially to cover shorter distances.
This is a clear indication of a healthy lifestyle, which invariably will fuel the demand for sports nutrition. More evidently the rising popularity of various sports will support expansion of the market especially in the East.
The increasing number of sports clubs and academies and training facilities will foster sales prospects for the sports nutrition market.
“The demand for sports nutrition is expected to remain comparatively low than the previous year as a result of the COVID-19 outbreak. However, sales of energy & protein bars and nutrition capsules is likely remain the least affected owing to excess inventory, availability in essential stores, and attractive discounts on online stores. Eventually, revival of world economy would also result in increase of per capita income and adoption of healthier lifestyles, which in turn will give impetus to market over the forecast period,” said a lead analyst at FMI.
Who is Winning?
Some of the key players operating in the sports nutrition market are Nestlé S.A., Red Bull GmbH, Ajinomoto Co., Inc., Keurig Dr. Pepper, Inc., Nutrabolt, GlaxoSmithKline plc., Optimum Nutrition, Inc., Vitaco Health, and Uelzena Group.
Due to the increasing competition, manufacturers are focusing on the expansion of product portfolio and are focusing on building their brand image through innovative marketing. Besides this, some of the leading companies are highly focusing on research and development through academic collaborations, global lateral collaborations, and customer focused groups.
Get Valuable Insights into Sports Nutrition Market
Future Market Insights, in its new report, presents an unbiased analysis of the global sports nutrition market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the B2B and B2C market. In terms of function, the market can be segmented into energizing products, pre-workout, rehydration, recovery, and weight management. Based on product form, the market can be classified into ready-to-drink, energy & protein bar, powder, and tablets/capsules. Based on nature, the market is segmented as organic and conventional. Regionally, the market can be segmented into North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East and Africa.
About Food Market Division at FMI
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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