Global Sports Nutrition Market Is Driving at A CAGR of 8.4% During 2019-2020

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According to Esticast Research, the global sports nutrition market accounted for a market value of $16.1 billion in 2019 projected to grow with a CAGR of 8.4% from 2019 to 2026.

In Europe, the growing number of athletes and rising demand for sports supplements is anticipated to drive the market growth. Further, E-commerce is the preferred distribution channel for these products in this region, and thus some companies offer their products through online channels. Moreover, Asia Pacific is estimated to hold the highest CAGR in the global market due to the increasing popularity of sports supplements, foods, and drinks.  Japan, India, and China are major countries in the Asia Pacific sports nutrition market.

According to Esticast Research, the global sports nutrition market accounted for a market value of $16.1 billion in 2019 projected to grow with a CAGR of 8.4% from 2019 to 2026.

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OVERVIEW

The growing demand for sports supplements, food, and drinks among the athletes and bodybuilders catalyzes market growth. Moreover, factors such as increasing the number of gyms and fitness centers, growing disposable income in developing economies, and increasing focus on healthy lifestyles among consumers are positively impacting the growth of the market. Furthermore, prominent players are up taking several strategies such as endorsement of products by famous sports personalities and providing sponsorships to various sports teams to surge the sales of their products.

The global sports nutrition market has been categorized into product and distribution channel. The product segment has been divided into sports supplements, sports drinks, and sports foods. The distribution channel has been segmented into bricks and mortar and e-commerce.

Based on geography, the sports nutrition market has been segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America has been classified into the U.S. and Canada. Europe has been divided into the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific region has been segmented into, Japan, India, China, South Korea, and Rest of Asia-Pacific. In addition, the South America region has been bifurcated into Brazil, Argentina, Mexico, and the Rest of South America. Further, the Middle East & Africa has been divided into GCC Countries, Africa, and the Rest of the Middle East.

North America is anticipated to be the dominating region in the global sports nutrition market. The increasing government initiatives encouraging sports-related activities, a growing number of fitness centers and gyms, and increasing inclination of people towards gyms and fitness clubs for maintaining a healthy physique are some factors supporting the market growth in the region. According to the International Health, Racquet & Sportsclub Association (IHRSA) 2019, there were about 62.5 million gym members in 2018, an increase of 2.6% from 60.9 million gym members in 2017. In Canada, plant-based sports nutrition products are becoming popular owing to the growing inclination towards vegan diets among millennials. Further, the growing health-consciousness and increasing number of Canadian individuals who regularly play sports or are engaged in other forms of physical exercise is expected to increase the demand for sports nutrition products in the country.

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In Europe, the growing number of athletes and rising demand for sports supplements is anticipated to drive the market growth. Further, E-commerce is the preferred distribution channel for these products in this region, and thus some companies offer their products through online channels. Moreover, Asia Pacific is estimated to hold the highest CAGR in the global market due to the increasing popularity of sports supplements, foods, and drinks.  Japan, India, and China are major countries in the Asia Pacific sports nutrition market. In Japan, the growing number of people joining sports-related activities, increasing prevalence of obesity, and initiatives undertaken by the Japanese Sports Agency to safeguard sports access to everyone is projected to support the market growth in the country.

Prominent companies functioning in the global sports nutrition market include Glanbia Plc, Hormel Foods Corporation, General Nutrition Centers, Inc., Glanbia Plc, Abbott Nutrition, The Hut Group, Clif Bar & Company, Cardiff Sports Nutrition LTD., Nature’s Bounty Company, Iovate Health Sciences International Inc., Reckitt Benckiser Group plc, and Yakult Honsha Co Ltd.  Prominent players are engaged in strategies such as new product launches, product innovations, partnerships, mergers & acquisitions.

Recent Development by Market Players:

  • In April 2019, Hormel Foods Corporation completed the $465 million sales of CytoSport, its protein-focused business to PepsiCo Inc.
  • In February 2018, Nature’s Bounty Company acquired The Best Bar Ever, a nutrition brand, thereby enhancing its performance nutrition product portfolio.
  • In September 2016, The Hut Group acquired IdealShape LLC, a sports nutrition and weight management retailer. With the acquisition, the company expanded its consumer reach in North America.
  • In January 2015, Iovate Health Sciences International Inc. launched StrongGirl, a new range of supplements designed for women. The StrongGirl brand includes Pre-Workout, Smart-Weight Loss Pills, and Isolate.

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