Yahoo Finance 
$72.17 Billion Sports Nutrition Market Forecast to 2028: Surge in Availability of Plant-Based Nutrition Products - Global Analysis by Type, Formulation, and Distribution Channel
Global Sports Nutrition Market
Dublin, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The "Sports Nutrition Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Formulation, and Distribution Channel" report has been added to ResearchAndMarkets.com's offering.
The sports nutrition market is expected to grow from US$ 41,683.5 million in 2021 to US$ 72,178.2 million by 2028; it is expected to grow with a CAGR of 8.2% from 2022 to 2028.
The increasing prevalence of obesity and the rising consumer base of sports nutrition products are the major factors boosting the market.
In the global census undertaken by the International Federation of Association Football (FIFA), a sport's governing body, there were 265 million individuals who play football, along with more than 5 million referees, which equates to 4% of the global population. Similarly, the Federation of International Basketball Associations (FIBA) estimated that at least 450 million people in the world play basketball, either recreationally or through structured competitions.
The number of people participating in recreational sports, including high-impact sports such as tennis or soccer, is increasing in Western countries. According to a study published by the National Federation of State High School Associations (NFHS), the participation of high school boys in the US in soccer, wrestling, and tennis surged significantly during 2018-2019.
According to the same study, sports participation in schools in the country was at its peak in the said academic year for the first time in the past 30 years. According to a study published by Stanford Children's Health in 2020, ~30 million children and teenagers participate in sports annually in the US. Nevertheless, sports are popular among people of all generations. Such an increase in participation in sports is projected to contribute to the growth of the sports nutrition market.
With the growing criticality of wellness and mindfulness, fitness has become a more relevant goal for many people. According to MuscleBlaze in India, ~40% of gym-goers consumed whey supplements in 2019. Physical exercises increase cardiovascular fitness and boost overall health by developing a mechanism for coping with stress, anxiety, and depression. As a result, with a surge in the number of people going to gyms and fitness centers, the consumption of health supplements has increased in recent years.
Further, the rising cases of osteoporosis and low bone densities are also encouraging people to take health, diet, and fitness seriously. Musculoskeletal diseases are also the leading cause of years lived with disability (YLDs) worldwide, accounting for 17% of all YLDs, i.e., ~149 million YLDs. Fractures (affecting ~436 million people worldwide), osteoarthritis (343 million people), other injuries (305 million people), neck pain (222 million people), amputations (175 million people), and rheumatoid arthritis (14 million people) contribute to the overall burden of musculoskeletal diseases.
Thus, with the increasing awareness of fitness and the growing prevalence of musculoskeletal disorders, osteoarthritis, and rheumatoid arthritis, the extending consumer base of sports nutrition - including athletes, bodybuilders, and non-athletes aspiring to adopt healthy lifestyles - drives the sports nutrition market growth.
Type Insights
Based on the type, the sports nutrition market is segmented into sports supplements, sports food, sports drinks, and others. The sports supplements segment held the largest market share in 2021.
However, the sports food segment is anticipated to register the highest CAGR during the forecast period. Sports food products serve as a convenient source of nutrition and a quick way to add protein content, in wide varieties including assorted flavors, to people's diets amid their busy lifestyles.
Formulation Insights
Based on formulation, the sports nutrition market is segmented into powder, capsules, tablets, and others. The powder segment is likely to hold the largest market share in 2022.
Furthermore, the same segment is expected to record the fastest CAGR during 2022-2028. The market growth of the powder segment is ascribed to the feasibility of producing protein blends, creatine, stimulants, and other more prominent ingredients in powder forms.
Distribution Channel Insights
Based on distribution channel, the sports nutrition market is segmented into convenience stores, supermarkets/hypermarkets, specialty stores, and others. In 2022, the convenience stores segment is likely to hold the largest share of the market.
Furthermore, the same segment is expected to register the highest CAGR from 2022 to 2028. The market growth of the convenience stores segment is attributed to the fact that these businesses are usually set in popular residential areas or near commercial centers or workplaces. They are also built in the vicinity of gas stations, shopping malls, highways, etc.
Key Metrics
Report Attribute | Details |
No. of Pages | 237 |
Forecast Period | 2022 - 2028 |
Estimated Market Value (USD) in 2022 | $41683.5 million |
Forecasted Market Value (USD) by 2028 | $72178.2 million |
Compound Annual Growth Rate | 8.2% |
Regions Covered | Global |
Key Market Dynamics
Market Drivers
Increasing Prevalence of Obesity
Rising Consumer Base of Sports Nutrition
Market Restraints
Availability of Adulterated Sports Nutrition Products
Market Opportunities
Rise in Product Visibility
Future Trends
Surge in Availability of Plant-Based Nutrition Products
Company Profiles
Glanbia Plc
PepsiCo Inc.
The Coca-Cola Company
Lovate Health services
Clif Bar & Company.
Bulk Powders
Abbott
Yakult Honsha Co., Ltd.
MusclePharm
GNC Holdings
For more information about this report visit https://www.researchandmarkets.com/r/951ma
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
