Fueling Performance: Exploring Trends and Opportunities in the Sports Nutrition Market
May 06, 2024
October 26th,2023/IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Sports Nutrition Market.
The Sports Nutrition Market report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The sports nutrition market size was valued at USD 47.02 billion in 2023 and is forecast to grow to USD 71.36 billion by 2028 at a CAGR of 8.7% during 2023-2028. Obesity rates have surged globally, with 39.0% of adults affected and projections of 1 billion by 2030. Factors like sedentary lifestyles and unhealthy diets contribute to this. Surging rates have raised concern and awareness about healthy lifestyles and nutritious dietary choices, driving the market for sports nutrition.
Segments Analysis
By Product Type
"The sports supplement segment held the largest share of >45% in 2022"
The sports nutrition market is segmented as food, drinks, and supplements. The sports supplement segment held the largest share in 2022 and is expected to maintain its vanguard over the forecast period owing to the rising regularized usage of sports nutrition supplements among sportspersons.A rapid upsurge in sports nutrition market preference for personalized nutrition is boosting segmental growth.
By Distribution Channel Type
"The online store’s segment is expected to expand with the fastest CAGR"
The sports nutrition market is segmented as supermarkets/hypermarkets, convenience stores, specialty stores, online stores, and other distribution channels. ?The online store’s segment is expected to expand with the fastest CAGR over the forecast period owing to rising customer preference for e-commerce websites coupled with the availability of the widest variety of sports nutrition with global reach.
By Region
"North America is estimated to contribute >45% market share in 2022"
North America is estimated to contribute >45% market share in 2022 and is expected to grow with a lucrative CAGR due to the region's high awareness of health and fitness and the high adoption of advanced nutrition. The presence of dominant market players and the rising popularity of the sports nutrition market among recreational and lifestyle users along with sportspersons will augment the regional growth over the foreseeable future.
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Features of the Report
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Sports Nutrition Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
About Stratview Research
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Author : Emily
Frequently Asked Questions (FAQs)
Sports nutrition focuses on the type and quantity of food and fluid taken by sportspersons, athletes, bodybuilders, etc. Various products are available in the market that offers optimal vitamins, carbohydrates, proteins, and fats required for a specific workout regime.