Sports Food Market

Sports Food Market Overview

The sports food market was valued at US$ 40.0 billion in 2021, and it is predicted to rise at a CAGR of 8.8%. Maximum performance necessitates proper nutrition and diet. Therefore, a key factor driving the sports food market is athletes' use of sports nutrition supplements due to their benefits.

Sports drinks hold the major sports food market share in the sports food market. The sports food market is expected to witness significant growth in the near future. This is attributed to the increasing availability of these products across the online market, supermarket, and departmental stores. 

Sports food consists of an energy bar, protein bar, and nutritional powder. Understanding the demand for sports food, companies are now coming up with various supplement powders and bars in the sports food market. It is easy to get proper nutrients for the sports persons in a single product due to busy life. Therefore, carbohydrates and protein foods are very popular in the sports food market, witnessing boosted sales of sports food. 

Soya and whey is a major provider of protein in the sports food market. Demand for sports food products has made the sports nutrition market flourish, and it is also expected to have high growth and sales of sports food during the next couple of years.

What has been the COVID-19's Impact on Sports Food Market?

Consumers were concentrated on purchasing basic products during the COVID-19 pandemic, which caused a drop in sales of sports food.

Furthermore, sales of sports food items and demand for sports food were significantly impacted by the temporary closure of gyms, fitness centers, health clubs, and sports institutes. However, owing to COVID-19, online sales of sports food skyrocketed in 2020 as customers turned to e-commerce to avoid congested areas and ensure hygiene. In the near future, rising awareness of health and a healthy lifestyle is expected to fuel demand for sports food.

What is the Segmentation for the Sports Food Market?

Based on food product type sports food market is segmented into dietary supplement powder, energy bar, and protein bar. Furthermore, the sports food market is segmented based on ingredients, such as vitamins & minerals, protein, and carbohydrates.

The sports food market is segmented into bodybuilding users, athletic users, and recreational users.

What are the Dynamics of the Sports Food Market?

Many factors that drive demand for sports food include rapid urbanisation and health concerns among consumers. In addition, innovative and effective product development makes the sales of sports food more vibrant. 

Companies' mass marketing strategies make sports food products easy availability, which helps the manufacturers develop the sports food market across the untapped and targeted sports food market. Other macro-economic factors such as employment, disposable income level, and other social factors are also influencing demand for sports food as well as the sale of sports food indirectly.

Sports food products are not widely available in underdeveloped countries. Moreover, due to the high price of sports food products, the sports food market is only concentrated among high and higher middle income groups. Currently, these factors are restraining the sports food market growth and sales of sports food.

However, being untapped sports food market, emerging countries and other underdeveloped countries are the opportunities for the sports food market players.

The global poverty level has been reducing. It is expected that the sports food market will hold a significant share among emerging and underdeveloped countries in the upcoming forecasted years. Owing to increase health awareness among consumers, demand for sports food is gaining popularity among non-sports consumers as well inducing sales of sports food.

Nandini Roy Choudhury

Principal Consultant

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Which is the Key Sports Food Market?

North America led the sports food market, accounting for about 45% of sales of sports food. This is due to increased demand for sports food from the United States.

High supplement usage and improved health and wellness awareness are expected to drive sports food market share expansion. Furthermore, the sports food market share's expansion will be fuelled in the near future by the existence of a large number of companies and the diverse tactics employed by these firms.

During the forecast period, Europe is expected to grow at a CAGR of 7.7%. Sports food market expansion is being fuelled by increased sports engagement and expanding governmental and private sector activities.

Who are the Dominant Sports Food Market Players?

Some of the salient sports food market players operating in the sports food market are Nestle SA, Danone S.A, Clif Bar & Company, Alpsnack Inc, The Hain Celestial Group, Inc, Met-Rx Substrate Technology, Inc., MusclePharm, Reckitt Benckiser Group Plc, Glanbia Plc.

Unilever purchased Onnit, a supplement, and sports nutrition business, in April 2021 to extend its health and leisure portfolio. 

In May 2020, Uelzena eG will launch nutrineo food health solutions in collaboration with BioHealth International GmbH (BHI) to develop and create sports nutrition supplements and dietary foods.

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