Global Sports Nutrition Market Size Set to Touch USD 58.13 Billion by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global sports nutrition market size at USD 38.16 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global sports nutrition market size to grow at a significant CAGR of 6.63% reaching a value of USD 58.13 billion by 2029.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global sports nutrition market size at USD 38.16 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global sports nutrition market size to grow at a significant CAGR of 6.63% reaching a value of USD 58.13 billion by 2029. Major growth factors of global sports nutrition market include rising number of health clubs, fitness centers, and gyms, as well as the increasing popularity of various exercise programs offered by these facilities, which include guidance from dietitians on the use of sports nutrition products. Proper nutrition and diet are crucial for achieving peak performance. Sports nutrition supplements can provide advantages such as improved training results, faster recovery times between workouts and competitions, weight management, reduced risk of injury, and more consistent performance.
The global sports nutrition market is further driven by the increasing trend towards healthy and active lifestyles. This is due in part to young people who are adopting fitness as a central aspect of their lives and the growing acceptance of protein supplements. The demand for plant-based nutritional products and those that boost immunity is also contributing to the market's growth. Manufacturers are using social media platforms such as YouTube and Instagram to promote their products, which is further boosting demand. Additionally, online purchases of health and pharmaceutical products have increased by 9.0%, according to a survey conducted by the United Nations Conference on Trade and Development and Netcomm Suisse eCommerce Association. It is driving the growth of the nutritional supplements market. Therefore, the rate of expansion of the sports nutrition industry is expected to increase during the forecast period. However, the availability of counterfeit products is anticipated to impede the market growth.
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Global Sports Nutrition Market – Overview
The sports nutrition market refers to the industry that produces and sells nutritional supplements, food and beverages, and other products that are designed to enhance athletic performance, improve recovery times, and support a healthy and active lifestyle. These products may contain ingredients, such as protein, amino acids, vitamins, minerals, and other compounds, that are believed to be beneficial for athletes and fitness enthusiasts. The global sports nutrition market includes a wide range of products, from energy bars and shakes to protein powders and dietary supplements and is driven by the increasing demand for health and wellness products worldwide.
Impact of COVID-19 on Global Sports Nutrition Market
COVID-19 pandemic had a positive impact on the sports nutrition market by increasing people's desire to lead a healthy lifestyle. Many global consumers were concerned about being less active or gaining weight during the pandemic, which led to an increased consumption of nutritious diets and various dietary supplements. This trend drove the market growth. However, the market experienced a short-term decrease in sales at the beginning of the pandemic due to the closure of gyms and health clubs and the suspension of sports events. Additionally, reduced income caused people to avoid nonessential spending, which affected the industry's growth.
Global Sports Nutrition Market – By End User
Based on end user, global sports nutrition market is divided into Athletes, Bodybuilders, and Lifestyle Users segments. During the forecast period, the lifestyle users category is expected to record the highest growth rate due to the increasing adoption of supplements to maintain physical health and the rising prevalence of obesity. The large consumer base is also driving the segment as they are influenced by social media to consume various supplements. The demand for nutritional supplements has risen due to the increasing prevalence of obesity and other chronic diseases worldwide. Additionally, senior citizens are seeking formulations that can help them maintain strength and activity, which is also contributing to the growth of the segment.
Major players operating in global sports nutrition market include Glanbia plc, PepsiCo, Inc., Abbott Laboratories, The Coca-Cola Company, Nestle S.A., GlaxoSmithKline plc, Clif Bar & Company, MusclePharm Corporation, The Nature's Bounty Co., Post Holdings, Inc., GNC Holdings, Inc., MuscleTech, Universal Nutrition, and BSN Sports. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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