Sports Nutrition Market |Size, Share, Growth| (2023

GLOBAL SPORTS NUTRITION MARKET SIZE (2023 - 2030)

The Global Sports Nutrition Market was estimated at USD 36.68 Billion in 2023 and is anticipated to be a value of USD 55.87 Billion by 2030, growing at a CAGR of 5.4% during the forecast period 2023-2030.

The outbreak of the COVID-19 pandemic substantially impacted the global sports nutrition market. The implementation of strict lockdowns, traveling restrictions, and social distancing measures across several nations hindered many companies' manufacturing capacities and caused a shortage of skilled workforce. The pandemic caused disruptions in supply chains and distribution of goods and services, which highly affected the distribution of sports nutrition products. Moreover, the pandemic resulted in the closure of gyms and fitness clubs, which further inhibited the demand for sports nutrition products. These factors negatively impacted the growth of the global automotive market. However, due to lockdown and travelling restrictions, there was an increased focus on fitness and wellness, including proper nutrition and exercise, among individuals accelerated by the COVID-19 pandemic, which enabled them to stay active and fit from the safety of their homes. Many individuals adopted a healthy lifestyle, which drove the sales of dietary supplements. These factors positively impacted the market's growth. Therefore, the global sports nutrition market experienced both challenges and opportunities during the difficult time of the COVID-19 pandemic.

The growing awareness of the significance of health and fitness among people is fueling the growth of the global sports nutrition market. With the adoption of smartphones and internet penetration, there is an increase in awareness among individuals on the importance of living and maintaining a healthy life that includes exercising regularly and eating a nutritious diet. A healthy lifestyle boosts immunity, makes bones stronger, keeps healthy skin, lowers the risk of a number of deadly diseases, and may help in living a longer life. This has led to a rise in the demand for sports nutrition products that support physical activity and aid in the recovery process. In addition, the expansion of distribution channels for sports nutrition products is another factor contributing to the growth of the global sports nutrition market. It has become easier for individuals to access a wide range of sports nutrition products and buy those that fulfill their everyday fitness goals as a result of the expansion of distribution channels, such as online platforms and departmental stores.

The global sports nutrition market is also encountering challenges, primarily in terms of negative perceptions among the majority. There is a negative image of sports nutrition products among the majority of individuals, which has been caused by adulterated products made with banned ingredients, including stimulants, anabolic steroids, and prohormones. This has led to consumers being skeptical of sports nutrition products due to their concerns regarding originality, safety, and efficacy. Thus, this challenge inhibits the growth of the global sports nutrition market.

Key Market Insights:

In 2022, the protein powder segment held the largest market share. The growth can be majorly attributed to the protein powder's popularity among bodybuilders, athletes, and fitness enthusiasts due to it being an effective way to increase daily protein intake and support muscle growth and recovery quickly and more efficiently.
In 2022, the athletes segment held the largest market share. The growth can be attributed to the need of sports nutrition products for enhancing an athlete's performance, endurance, muscle growth and recovery, and decreasing the risk of disease and injury.
In 2022, the online channels segment held the largest market share. The growth can be attributed to the growing popularity of e-commerce platforms for purchasing sports nutrition products as they provide easy convenience, a wide range of product choices, comparison of prices, product reviews and feedback, and a hassle-free shopping experience.
In 2022, the region of North America held the largest market share. The growth can be attributed to the rising incidence of lifestyle-related diseases, such as obesity, increasing health and fitness consciousness among individuals, and an extensive number of health clubs and fitness centers.
Ultimate Nutrition Inc., PowerBar Europe GmbH, Olimp Laboratories, Atlantic Multipower UK Limited, Clif Bar & Company, Glanbia PLC, The Bountiful Company, MusclePharm, Cardiff Sports Nutrition, and BA Sports Nutrition are among the major players in the global sports nutrition market. The sports nutrition market is estimated to become more competitive as new players enter the industry. Due to their innovation and new product development in the sports nutrition market, PowerBar Europe GmbH, Atlantic Multipower UK Limited, and Ultimate Nutrition Inc. currently dominate the market.

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