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Sports Nutrition Market to Rally to USD 80.71 Billion by 2028, Driven by Increased Global Fitness Awareness
Dublin, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The "Global Sports Nutrition Market Overview, 2028" report has been added to ResearchAndMarkets.com's offering.
The latest market overview report reveals an expected surge in the global sports nutrition industry, projecting its growth to a staggering USD 80.71 billion by the year 2028. This dynamic expansion, climbing from a considerable USD 171.26 billion in 2022, represents an 8.51% CAGR throughout the forecast period of 2023-28.
Surging levels of fitness participation globally and a wave of health consciousness are propelling the demand for sports nutrition products. From professional athletes to casual fitness enthusiasts, the market caters to various user groups motivated by diverse wellness objectives. The aging population, weight management concerns, and the emergence of sports nutrition for youth athletes further bolster market prospects.
Product Innovation and Consumer Preferences Reshaping Market Landscape
Sports Drinks and Sports Foods, including protein bars and energy gels, lead product preferences. With convenience and potent replenishment as key priorities, sports drinks emerge as market leaders. Yet, it's sports foods that are forecasted to grow at the highest CAGR, offering nutritive, on-the-move solutions.
Innovative plant-based and performance-oriented nutrition options are winning favor, emphasizing all-natural, cruelty-free, and organic choices. Such inclinations dovetail with broader global trends of plant-based diets and eco-conscious consumer behavior.
Regional Insights and End User Dynamics
Geographically, North America dominates the current stage with its significant market share, thanks to heightened health awareness and an upsurge in sports participation. Conversely, the Asia Pacific region is ramping up, prepared for robust growth fueled by increased disposable incomes and sports involvement.
The market notably distinguishes between lifestyle users and athletes, with lifestyle users at the market's forefront. This broad user base values sports nutrition for its role in maintaining an active life and optimal health. Athletes, experiencing the highest CAGR, require bespoke products that cater to their intensive needs for performance, endurance, and recovery.
Raw Material Trends and Retail Distribution Dynamics
Animal-based proteins like whey, revered for their muscle-building benefits, contrast with the escalating demand for plant-based proteins such as pea, soy, and rice, admired for their hypoallergenic properties and complete amino profiles.
Consumer shopping behaviors also reveal a preference for multi-retail channels. Drugstores, pharmacies, supermarkets, hypermarkets, and online platforms present varied gateways for sports nutrition procurement.
Overview of Market Carriers and Noteworthy Start-ups
Key industry players such as Glanbia plc, Abbott Laboratories, PepsiCo, Inc, The Coca-Cola Company, and Nestlé S.A continue to shape the sports nutrition marketplace. Startup ventures like Huel, Gainful, and Koia also make significant strides by offering innovative, tailored nutrition solutions.
Report Segmentation
By Product Type
Sports Supplements (Tablet and Capsules)
Sports Drinks
Sports Foods (Protein Bars, Energy Bars, Gels, etc.)
Powder
By Raw Material Type
Animal Based
Plant Based
Mixed
By End user
Athletes
Bodybuilders
Lifestyle Users
By Distribution Channel
Supermarkets and Hypermarkets
Specialty Stores
Convenience Stores
Online/E-Commerce/Internet Retailing
Drugstores and Pharmacies
Other Distribution Channels (Healthfood Shops, Direct Selling, etc.)
For more information about this report visit https://www.researchandmarkets.com/r/xagmui
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