Global rise in sports & fitness participation fuels demand for sports nutrition products, catering to diverse consumers seeking health and wellness

NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 10, 2023 /EINPresswire.com/ -- According to Future Market Insight, the global sports nutrition market is likely to reach US$ 61.66 billion by 2033, registering a CAGR of 11.5%. This is a considerable increase from its projected value of US$ 26.7 billion in 2023.

Key Drivers in the Sports Nutrition Industry

Increasing awareness of nutrition and fitness
Growing popularity of sports and fitness activities
Rising disposable incomes in developing economies
Influence of social media and fitness influencers
Expansion of gyms, fitness centers, and health clubs
Increasing participation in sports events and competitions
Continuous innovation in flavors, formats, and packaging
Emphasis on maintaining a healthy lifestyle
Advancements in sports nutrition research
Demand for natural and organic products
Focus on product labeling and transparency

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Key Challenges in the Sports Nutrition Industry

Intense market competition and price wars
Regulatory restrictions and guidelines on ingredients and claims
Consumer skepticism and negative perception
Limited consumer awareness and education
Potential health risks and side effects
Fluctuating raw material prices
Limited availability and distribution channels
Economic downturns impacting consumer spending

Key Trends in the Sports Nutrition Industry

The evolution of popular supplements includes protein powders, energy bars, and sports drinks.
Increasing awareness of the benefits of sports nutrition for performance and recovery
Specialized products developed for specific fitness goals
Technology integration for tracking nutrition and performance
Expansion of female-focused sports nutrition.
Key Opportunities in the Sports Nutrition Industry  

Increasing awareness and demand for sports nutrition among athletes and fitness enthusiasts
The popularity of sports nutrition supplements and personalized nutrition trends
Collaboration between brands and athletes for endorsement and development
Innovation in formulations and clean-label products
Focus on recovery and muscle repair with post-workout nutrition
The growing interest in plant-based and vegan sports nutrition
Rise of e-commerce and online retail for convenient access
Expansion of the market in emerging economies                

Key Takeaways from the Sports Nutrition Market:

The sports nutrition industry in the United Kingdom is anticipated to rise, exhibiting a CAGR of 3.8% through 2033.
The United States dominated the sports nutrition industry in 2022, holding a 23.9% global market share.
In 2022, Japan had a 2.4% share of the sports nutrition industry globally.
With a CAGR of 25.8% over the forecast period, India is predicted to develop rapidly in the sports nutrition industry.
The sports nutrition industry in China is expected to increase, registering a CAGR of 4.2% over the forecast period.
Germany accounted for 5.9% of the global sports nutrition industry in 2022.

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Competitive Landscape in the Sports Nutrition Market

Key players employ various measures to preserve their market positions and broaden their global reach. Those strategies involve the following:

Emphasizing features, quality, and performance to stand out from competitors
Identifying specific target segments based on demographics, interests, or fitness goals
Offering specialized programs or services to cater to different customer groups
Building a strong brand presence through effective marketing campaigns
Leveraging endorsements and partnerships with influential athletes or fitness influencers
Utilizing digital marketing channels and social media to engage with target audiences
Acquiring or partnering with complementary businesses to broaden the product portfolio
Creating an ecosystem of interconnected fitness products for a seamless user experience
Collaborating with fitness clubs, gyms, or sports organizations to increase reach and visibility
Partnering with health and wellness brands to offer integrated solutions

Recent Developments by Key Players

In December 2022, HealthKart secured a funding round and raised US$ 135 million. Temasek, a wealth fund based in Singapore, primarily led the funding. HealthKart has strategic plans to utilize the funds for expanding the sales of supplements and other nutritional products to new customers. 

In August 2022, Spacemilk, an American sports nutrition brand, and NextFerm Technologies, an Israeli food technology start-up, signed a partnership agreement. The agreement involves the ProteVin supply, a non-GMO protein alternative. 

In January 2022, Cut, an energy drink, was launched by Hydroxycut. Its primary goal is to help consumers reduce their body fat percentage. Hydroxycut, the brand behind ‘Cut,’ operates under the parent company Lovate Health Sciences.

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Key Players in the Sports Nutrition Market

Nestlé S.A.
Red Bull GmbH
Ajinomoto Co., Inc.
Keurig Dr. Pepper, Inc.
Nutrabolt
GlaxoSmithKline plc.
Optimum Nutrition, Inc.
Premier Nutrition Corporation
Biothrive Sciences
Nutrabolt
Now Foods
INC Sports Nutrition
Vitaco Health
Uelzena Group

Key Segmentation:

By Ingredient Type:

Plant-derived Ingredient
Soy Protein
Rice Protein
Pea Protein
Potato Protein
Animal-derived Ingredient
Creatine
Milk Protein
Whey Protein Concentrates
Casein
BCAA (Branded Chain Amino Acid)
Blends

By Nature:

Organic
Conventional
B2C

By Function:

Energizing Products
Rehydration
Pre-Workout
Recovery
Weight Management

By Product Form:

Ready-to-drink
Energy & Protein Bar
Powder
Tablets/Capsules
By Flavour:

Regular
Flavored
Fruit Punch
Berries
Citrus
Chocolate
Vanilla
Others

By Sales Channel:

Modern Trade
Convenience Store
Specialty Store
Pharmacy Store
Online Retail
Other Sales Channel

By Price Range:

Economic
Premium
Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
The Middle East & Africa

Author

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

The B2B Sports Nutrition Market Size is projected to achieve a value of US$ 4.06 billion in 2023. It is expected to hit US$ 8.25 billion by 2033, with a CAGR of 7.35%.

The Sports Food Market Trends was valued at US$ 40.0 billion in 2021, and it is predicted to rise at a CAGR of 8.8%. Maximum performance necessitates proper nutrition and diet.

Ankush Nikam
FMI
+91 90966 84197
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