Sports Nutrition Market - Growth, Trends, and Forecast (2019-2024)

Global sports nutrition market is expected to reach USD 81.5 billion by 2023, registering a CAGR of 9.92% during the forecast period. Naturally functional food ingredients are being included in the market gathering the attention of the consumers.

Evolving Fitness Trend Drives the Market

Consumers are increasingly demanding healthy and convenient lifestyle solutions, and sports nutrition products are one option that meets this need. The consumers of sports nutrition food, drinks, and supplements can be segmented into four different groups—bodybuilders, pro/amateur athletes, recreational users and lifestyle users. Bodybuilders and athletes have been the traditional consumers of sports nutrition products, particularly supplements; however, there is growing interest in these products from recreational and lifestyle users.

Sports and Energy Bars are Gathering Wide Customer Base

The market for sports drinks has reached maturity, whereas there is growth opportunity in sports and energy bars, as they expand their product attributes to attract new consumers. Sports food is typically found in a bar format that is nutrient dense and leverages the functional food proposition; that is, it provides health benefits that go beyond their nutritional value. These products include energy/endurance bars, balanced nutrition bars and protein bars. Energy and endurance bars maintain blood-glucose levels during exercise and contain a high concentration of carbohydrates, with typically moderate amounts of protein and fat.

US Dominates the Global Market

The United States is the largest consumer, representing approximately two-thirds of the world sports nutrition market in both volume and value of retail sales. The US consumers demonstrate the highest demand for energy and nutrition bars, representing two-thirds of global retail sales, while consumers in Canada rank third.

Key Development

• CBD, containing sports nutrition product in the market. The product, ReGenPCR, is a grass fed whey protein powder being sold as a dietary supplement that includes 20 mg of what the company calls a full spectrum phytocannabinoid hemp extract. It’s aimed at sports nutrition customers, and will be offered direct to consumers online in two flavors
• Optimum Nutrition, on February 21, 2018, released its first plant-based protein powder. ON Gold Standard 100% Plant is made from a blend of organic pea, rice and sacha inchi proteins, and the powder provides 24g of protein per serving. The powder can be mixed with water, milk, or dairy-free milk, and is available in three flavours: chocolate, vanilla, and mixed berry

Competitive Landscape

Sports beverages are a mature market dominated by Pepsi and Coca-Cola, making it a very difficult market to penetrate. Sports food, beverages, and supplements are also all in competition with one another, creating additional challenges for companies, as they attempt to differentiate their products.

Major Players: Pepsico, Coca Cola, Glanbia Plc, Abbott Nutrition, Maxinutrition Limited. 

Reasons to Purchase this Report

• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis.
• Market dynamics, which essentially consider the factors, which are impelling the present market scenario along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimates sheet in excel

Customization of the Report

• Revenue of the global functional beverage market
• Revenue of the global functional food market
• Revenue of the global dietary supplements market

This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.