Sports Nutrition Market Growth & Trends
The global sports nutrition market size is expected to reach USD 34.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.9% from 2021 to 2028. Growing awareness of fitness and active living among consumers is a major factor contributing to the growth of the segment. For instance, according to the Global Wellness Institute, the fitness and mind-body sector was valued at USD 542.0 billion in 2015 and reached USD 595.4 billion in 2017.
In addition, a rise in the number of gym-goers consuming supplements is driving the market. According to a study conducted in 2020, approximately half of the gym-goers consume supplements. Moreover, the importance of healthy eating and nutrition is growing among athletes. Many athletes are consuming nutritional products to enhance performance, muscle recovery, and endurance. This, in turn, is driving the market, globally.
Although the spread of COVID-19 has negatively impacted the market, immunity-boosting sports nutrition products are gaining traction globally. Many manufacturers are introducing nutritional products supporting the immunity system. For instance, in October 2020, Health XP launched Shield Whey, a whey protein powder with immunity-boosting vitamins such as vitamin C, vitamin K, and vitamin E. Moreover, personalized formulations for targeted nutrition goals such as plant-based workout mixes are also gaining popularity.
An increasing number of initiatives undertaken by the key stakeholders in the market is increasing the adoption of nutritional products. For instance, in May 2020, RBar Energy launched almond protein bars containing isoleucine, leucine, and valine to increase lean muscle mass. In December 2019, Herbalife Nutrition opened a new training facility in Chengdu, China. The training facility will allow the company to educate and train distributors and customers about its products and applications in China. Moreover, the players are adopting innovative strategies for promoting and increasing the adoption of these products. For instance, in March 2021, UK Pro League announced Veloforte as its official partner for performance nutrition products. Veloforte was to supply energy bars and other products to all players in the tour.
Sports Nutrition Market Report Highlights
- The sports supplements segment emerged as leading the type segment in 2020 and accounted for the largest revenue share of 82.2% in the market
- The brick and mortar segment accounted for the largest revenue share in 2020, whereas the e-commerce segment is projected to expand at the fastest CAGR during the forecast period
- North America accounted for the largest revenue share of 59.2% in 2020, whereas Europe is projected to expand at the fastest CAGR during the forecast period