ESOMAR-certified consulting firm Future Market Insights (FMI) projects sports nutrition market to register an impressive growth through 2021 & beyond. Demand for organic sports nutrition beverages will increase, augmenting the sales in the market.
Rising demand for clean-label products and trend of vegan lifestyle is fuelling the demand for plant-derived ingredients. Post COVID-19 outbreak, consumers have become more conscious regarding their health, which is directly impacting the sales of sports nutrition products.
Spurred by this, the global sports nutrition demand will increase at an impressive CAGR of 9.3% by the end of 2031. Sales of sports nutrition will total US$ 19,302.2 Mn in 2021, reaching a shipment of 737,780 MT.
Demand for flavored energy drinks and energy bars among fitness enthusiasts have burgeoned significantly, especially in the developed nations including the U.S., the U.K. and Germany.
With the emergence of online fitness centers and health classes, sales of sports nutrition energy bars and ready to drink sports beverages have spiked tremendously. Manufacturers are therefore entering into alliances with local and regional fitness centers to capitalize on existing opportunities.
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Key Takeaways from FMI’s Sports Nutrition Market Study
- Trend for veganism and healthy lifestyle among fitness enthusiasts will drive the sales of plant-derived ingredient sports nutrition. This segment is expected to hold maximum share in the global market.
- In terms of nature, organic segment will exhibit higher growth as compared to conventional backed by the rising demand for natural and organic products
- For B2C, flavored sports nutrition beverages are expected to remain dominant throughout the forecast period
- Expansion of online fitness and retail channels will spur the sales of sports nutrition, exceeding a valuation of US$ 64.1 Bn by 2031
- The U.S. is expected to be the most lucrative market across North America during the assessment period
- India will emerge as a lucrative market backed by the rising demand for organic sports nutrition products in the country
“Growing prevalence of obesity across the globe is pushing the people to opt for healthy lifestyle. With emergence of online fitness centers and health classes, manufacturers are forging partnerships and alliances with local and regional fitness centers generating lucrative revenues,” says the FMI analyst.
Competitive Landscape
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, and Uelzena Group. among others are some prominent players operating in the sports nutrition market.
Presence of numerous industry players in sports nutrition market has led to intense competition in the market. Key players are focusing on product introduction and launches for the expansion of their product portfolio.
Some of the leading companies are highly focusing on research and development through academic collaborations, lateral collaborations, and customer focused groups. Manufacturers are also focused on building their brand image through innovative marketing campaigns.
Herbalife Nutrition, leading global nutrition company announced its official partnership for Team India in Tokyo Olympics 2021.
In May 2021, Amazentis, an innovative life sciences company pioneering scientific breakthroughs in nutrition, announced the initiation of a new clinical study to evaluate Mitopure for muscle recovery, endurance, and running performance benefits in top athletes.
Get Valuable Insights on Sports Nutrition Market
Future Market Insights, in its new report, presents an unbiased analysis of the global sports nutrition market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the B2B and B2C market. In terms of function, the market can be segmented into energizing products, pre-workout, rehydration, recovery, and weight management. Based on product form, the market can be classified into ready-to-drink, energy & protein bar, powder, and tablets/capsules. Based on nature, the market is segmented as organic and conventional. Regionally, the market can be segmented into North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East and Africa.
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Key Questions Answered in the Report
- What is the current sports nutrition market value?
The sports nutrition market is expected to exceed US$ 19,302.2 Mn in 2021
- At what rate did the sports nutrition market grow between 2016 and 2020?
The sports nutrition market projected steady growth, registering a CAGR at 7.4% between 2016 and 2020.
- What are the key trends driving sports nutrition sales?
Rising trend for clean-label and non-GMO products and easy availability of flavored nutritional sports energy drinks and products will increase the sales.
- Who are the leading players of sports nutrition?
Nestlé S.A., Red Bull GmbH, Ajinomoto Co. Inc., Keurig Dr. Pepper Inc., Nutrabolt, and GlaxoSmithKline plc., are the top players identified by Future Market Insights.
- What will be the demand outlook for North America sports nutrition market?
North America’s sports nutrition market demand is set to rise at 10.7% CAGR over the forecast period of 2021 and 2031.
- What is the market share of leading players in sports nutrition market?
The top players in the sports nutrition market will collectively account for 50-55% of global market share in the year 2021.
- At what rate will sports nutrition demand rise in Europe?
Demand for sports nutrition across Europe will exhibit healthy expansion at 9.9% CAGR during the forecast period of 2021 and 2031.
- Which are the top countries driving the sports nutrition market sales?
Top countries in terms of sports nutrition sales are China, the U.K., the U.S., India and Germany.
- What is the current market share of Japan and South Korea in the global Sports nutrition market?
In 2021, South Korea will account for 0.7% of global sports nutrition market share, while Japan will contribute over 0.5% of global market share.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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