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Industry Insights, Market Size, CAGR, High-Level Analysis: Sports Nutrition MarketThe global sports nutrition market size was valued at USD 15.6 billion in 2019 and is projected to register a CAGR of 8.9% over the forecast period. Increase in demand for various types of protein bars, dietary supplements, and energy drinks among athletes and bodybuilders is one of the major factors driving the market growth. Rising disposable income, rapid urbanization, and increase in the number of gyms and health and fitness centers endorsing sports and fitness nutrition products also positively influence the market growth. According to International Health Racquet and Sportsclub Association, it was estimated that in 2016, U.S. is home to nearly 38,477 health clubs. In addition, the health club membership in U.S. increased from 50.2 million in 2012 to 60.9 million in 2017, signifying a rise in awareness regarding physical fitness among the U.S. population, thus driving the demand for fitness and sports nutrition products. Growing importance of leading an active life is positively impacting the adoption of sports nutrition products. The participation rate of consumers in fitness sports or fitness activities is growing at a rapid pace. According to a study conducted by ˜Physical Activity Council in 2018, nearly 64% of the U.S. population aged 6 and above is engaged in activities such as high intensity training, running, and jogging. Consumers are also becoming increasingly aware about the importance of consuming sufficient nutrients, thereby driving the demand for sports nutrition products. Moreover, shifting demographic base in the market from core athletes who regularly consume sports nutrition products to lifestyle users and recreational users focusing on adopting a healthier lifestyle, is expected to create market growth opportunities globally. Moreover, easy accessibility of nutritional supplements plays a vital role in market growth. Emergence of e-commerce led to an increase in sales of these products, particularly in emerging economies, including India, China, and Brazil. According to data published by Ministry of Food Processing Industries, Government of India, in 2017, online retail has grown significantly in India, at a CAGR of 50%-55% from 2009 to 2013. In addition, several players in the market are launching their business over e-platforms to increase their market share. For instance, in 2016, Zota Healthcare launched Nutravedic, an ecommerce portal. Increase in awareness of the importance of nutrition among young athletes also drives market growth. Athletes focus on fulfilling their nutritional needs along with proper physical activity for enhancing fitness. Athletes, coaches, trainers, and fitness enthusiasts emphasize on meeting nutritional needs, as nutrition influences training and recovery and hence enhances performance. In February 2013, the Gatorade Sports Science Institute, along with other researchers, discussed the effects of nutrition on athletic training and performance, which, in turn, helped raise awareness of sports nutrition among consumers. Moreover, players in the health supplements market are continuously innovating and launching new products in the market to meet specific requirements and taste preferences of consumers across different age groups. In addition, companies leverage the growing trend of consuming plant-based or vegan products, and have launched several products in this category. For instance, in 2019, InnovoPro Ltd., an Israeli startup, launched vegan chickpea protein powder. In November 2017, Aprí¨s launched a plant-based protein beverage to support whole-body replenishment.
Product Insights of Sports Nutrition MarketOn the basis of product, the sports nutrition market has been segmented into supplements, drinks, and foods. In 2019, sports supplements held the largest market share of over 80.0% in 2019 owing to growing awareness about health and fitness and huge commercial availability of sports supplements in the market. Growing number of gyms and fitness centers is also one of the key factors contributing to the large market share as these centers endorse nutrition products. Increasing number of new product launches in the sports supplements category indicates the significant demand for these products. For instance, in 2017, Momentous, a sports nutrition startup, launched its first line of NSG-certified protein powders including AbsoluteZero, RedShift, and ArcFire. Furthermore, in 2016, Klean Athlete launched Klean Creatine, which helps athletes build muscle mass, increase body strength, and recover from fatigue. Growing trend of self-diagnosis and increase in health-consciousness among the U.S. population is expected to boost the demand for sports nutrition products for treating various vitamin and mineral deficiencies. In addition, companies are focusing on targeting consumers on the basis of label claims and certifications. For instance, in 2018, NOW Sports collaborated with Informed Sports, a third-party certification provider, for detecting the presence of any banned substances. Such certifications help companies build consumer trust and improve brand reputation. The sports foods segment is expected to witness a significant growth rate over the forecast period on account of the trend of meal replacement bars such as energy bars and protein bars. Increasing number of new product launches in this category is expected to boost the demand for these products in the coming years. For instance, in 2018, Bodybuilding.com launched its own private labeled line of protein crunch bars available in two flavorschocolate peanut butter and cookies and cream.
Distribution Channel InsightsIn 2019, bricks and mortar emerged as the key distribution channel segment, mainly owing to a large consumer base for retail stores. Huge presence of specialty stores including GNC, Walmart, and Vitamin Shoppe is one of the major factors driving the segment growth. For instance, GNC has more than 4,800 retail stores while Vitamin Shoppe has around 785 stores across U.S. These specialty stores are engaged in introducing newer ways to attract customers. For instance, in 2017, Vitamin Shoppe launched Brand Defining Stores in nine locations to increase customer engagement and enhance their overall experience. Moreover, established retail stores are developing strategies such as provision of personalized consulting prior to the purchase of a supplement in order to maintain their share in the retail business. These retail stores are easier to navigate and also have sports nutrition and protein sampling station, which allow consumers to try products before purchase. The ecommerce segment is expected to register the highest growth rate over the forecast period. Increase in the number of self-directed consumers is an important factor that drives the adoption of online channel for the purchase of sports nutrition products as they offer discounts on a variety of supplements to attract consumers toward this channel. Online players in the market are devising strategies to compete with the growing specialty stores. For instance, in 2018, Amazon launched its own private labeled brand OWN PWR, which consists of 11 products that include eight general sports nutrition products and three elite pre-workout formulations. Moreover, easy availability of sports supplements on online platforms is expected to drive the segment growth.
Regional Insights of Sports Nutrition MarketNorth America dominated the global market with a share of 61.0% in 2019. Growing number of gyms and health centers and government initiatives promoting sports-related activities drive the demand for sports nutrition products in this region. In addition, increasing number of new product launches in the sports supplements category and the presence of key market players in the region are some of the important factors driving the regional market growth. Significant increase in the number of athletes in Europe and high demand for supplements are expected to drive the regional market growth. In addition, several companies in this region offer sports supplements through online channels. Conventionally, these products were only used by core athletes. However, over the last few years, individuals in Europe have started to consume sports supplements to maintain a healthy lifestyle and manage weight, thereby driving market growth. Asia Pacific is anticipated to be the fastest-growing market owing to the increasing popularity of sports nutrition products in the region, which, in turn, creates opportunities for domestic players. Moreover, digital infrastructure is improving in emerging countries such as India and China, which generates significant opportunities for online platforms, thereby driving the sales of sports nutrition products. Moreover, several initiatives taken by governments of countries such as China, Japan, Singapore, Malaysia, and India to increase sports participation in their respective countries is expected to drive the regional market over the forecast period.
Market Share Insights of Sports Nutrition MarketGlanbia Plc.; Hormel Foods Corporation; Stokely-Van Comp, Inc.; and MusclePharm are some of the key players in the market, owing to their diverse product offerings, partnerships, agreements, and ongoing new product launches in the U.S. market. Some of these market players have recently launched new products in order to expand their portfolio of sports nutrition products. For instance, in 2017, CytoSport, Inc., a subsidiary of Hormel Food Corporation, launched Muscle Milk protein bars as an extension to its existing sports nutrition segment. Key manufacturers focus on launching new products and product innovations, which further drives market growth. For instance, in October 2018, SternLife announced the launch of a new range of sports bars, energy bars, and paleo bars. Moreover, companies are increasingly focusing on product innovations in terms of new flavors for sports nutrition products.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Sports Nutrition Market Research ReportThis report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, this market research report has segmented the global sports nutrition market report on the basis of product, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2019 - 2030)
- Sports drinks
- Sports supplements
- Sports foods
Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030)
- Bricks and mortar
Table of Contents Chapter 1 Research Methodology & Scope 1.1 Market Segmentation and Scope 1.2 Market Definition 1.3 Research Methodology 1.3.1 Information Procurement 22.214.171.124 Purchased database: 126.96.36.199 GVR’s internal database 1.3.2 Primary Research: 1.4 Research Scope and Assumptions 1.5 List to Data SourcesChapter 2 Executive Summary 2.1 Market Outlook 2.2 Segment Ou | read more...