Sports Nutrition Market Size is Expected to Grow at a CAGR of around 7% during 2019-2024 – IMARC Group
According to the latest report by IMARC Group, titled “Sports Nutrition Market Research Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global sports nutrition market is currently experiencing moderate growth. Sports nutrition products refer to a category of food supplements that aim to enhance the athletic performance of individuals. These products offer a convenient way to support an active lifestyle. They provide fuel for physical activity, facilitate the repair and rebuilding process, and optimize performance. They aid in supplying the necessary nutrients, energy and fluids to keep the body hydrated and functioning under pressure, which helps in reducing the impact of injury, physical fatigue and delayed recovery. As a result of these benefits, sport nutrition products have emerged as an effective and safe way of maintaining a healthy lifestyle over the years.
Global Sports Nutrition Market Trends:
The primary factor driving the sports nutrition market is the growing fitness consciousness, owing to the prevalence of chronic diseases. This, in confluence with the rising healthcare expenditure, is driving the demand for sports nutrition products worldwide. Apart from this, the incorporation of natural as well as plant-based ingredients and the introduction of vegan alternatives is also increasing their acceptability among consumers who follow special diets. Further, a significant rise in the number of casual or recreational consumers, professional bodybuilders and athletes, along with the increasing number of young people opting for sports as their career, is strengthening the market growth. Looking forward, the global sports nutrition market size is expected to grow at a CAGR of around 7% during 2019-2024.
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Market Summary:
- Based on the product type, the market has been segmented into sports food, drinks and supplements. At present, sports drinks dominate the market, holding the largest share.
- On the basis of the raw material, the market has been classified into animal derived, plant-based and mixed sports nutrition products.
- The market has been segregated on the basis of the distribution channel into hypermarkets and supermarkets, convenience stores, drug and specialty stores, online and others. Currently, hypermarkets and supermarkets exhibit a clear dominance in the market.
- Region-wise, the market has been divided into Europe, Asia Pacific, North America, Latin America, and Middle East and Africa. Presently, North America is the leading market, holding the majority of the global share.
- The competitive landscape of the market has also been examined with some of the key players being the Coca-Cola Company, Abbott Nutrition Inc., PepsiCo Inc., Glanbia Plc., Reckitt Benckiser Group Plc., Yakult Honsha Co. Ltd., Post Holdings Inc., GNC Holdings, Clif Bar & Company, Otsuka Pharmaceutical Co. Ltd., Atlantic Multipower UK Limited, GlaxoSmithKline PLC, Olimp Laboratories, Ultimate Nutrition Inc. and PowerBar Europe GmbH.
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