June 17, 2024
Sports Nutrition Market

Sports Nutrition Demand is projected to Driven by Growing Health Conscious Consumer Base

Sports nutrition products such as sports/performance drinks, sports/performance foods, sports/performance supplements play a vital role in boosting energy levels and enhancing physical performance during intense physical activities. These products are designed to cater to the specific nutritional needs of athletes and sports enthusiasts. Sports drinks provide carbohydrates, electrolytes, vitamins, and other minerals to replenish the body during or after exercise. Sports foods include energy bars, gels, and snacks rich in protein, carbohydrates, vitamins, and minerals for muscle growth and recovery. Sports supplements contain ingredients such as proteins, creatine, amino acids, and vitamins for muscle building and weight management. The growing popularity of fitness regimes and active lifestyles has been propelling the demand for these specialized nutritional products. Sports nutrition products allow people to train harder, perform better, and recover faster from workouts.

The global Sports Nutrition Market is estimated to be valued at US$ 46.83 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends contributing to the growth of the sports nutrition industry is the paradigm shift from generic fitness to sports-specific training regimes. With growing participation in various sports and recreational activities, there is an increased demand for tailored nutrition solutions for different types of sports such as soccer, golf, cycling, running, and others. Manufacturers are launching innovative products with specific formulations tailored for the unique nutritional needs of different sports. Innovation in product offerings and introduction of performance-boosting active ingredients is another major trend. Companies are developing sports nutrition products containing functional ingredients like mushroom extracts, nootropics, probiotics, plant-based proteins to gain a competitive edge. Furthermore, the rising popularity of clean label and plant-based products is prompting companies to offer sustainable and natural Sports nutrition solutions without compromises on performance. With growing health, environmental and ethical concerns, natural and vegan sports nutrition products are likely to witness increased traction.

Porter’s Analysis

Threat of new entrants: The threat of new players entering the global Sports Nutrition Market is moderate due to high capital investment required to invest research and development activities.

Bargaining power of buyers: The bargaining power of buyers is low as the Sports Nutrition products do not have that many substitutes and buyers have less influence over pricing.

Bargaining power of suppliers: The bargaining power of suppliers is low given the global presence of many suppliers in the market. The suppliers also do not have a significant influence over pricing.

Threat of new substitutes: The threat of new substitutes is moderate to high as alternative products and supplements pose a threat to Sports Nutrition products.

Competitive rivalry: The rivalry among existing players in the global Sports Nutrition Market is high owing to the presence of numerous global and domestic players offering a wide range of products.

Key Takeaways

The Global Sports Nutrition Market Demand is expected to witness high growth. The global Sports Nutrition Market is estimated to be valued at US$ 46.83 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030.

Regional analysis related content comprises North America holds a major share in the global market owing to increased health consciousness and demand for nutritional supplements among consumers. The Asia Pacific region is expected to exhibit the fastest growth rate over the forecast period due to growing young demographic and improving living standards in emerging countries such as China and India.

Key players related content comprises Key players operating in the Sports Nutrition market are Novartis, Pfizer, Roche, Sanofi, Merch &Co., AstraZeneca, GlaxoSmithKline, Johnson & Johnson, Gilead Sciences, and others. Sports Nutrition products manufacturers are offering a wide variety of products targeting specific consumer segments to strengthen their market position. Major players are investing in research activities to develop enhanced formula products, launch of customized daily protein supplements, and pre and post workout supplements

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it