Increasing demand for sports drinks will boost the sports nutrition market, forecast to touch US$ 23.1 Bn by 2025 at a CAGR of 8.1%
Noida, Uttar Pradesh, India, February 26 2021 (Wiredrelease) Report Ocean Pvt Ltd –:Global Sports Nutrition Market is estimated to see healthy growth, pegged at a CAGR of ~8.1% during the forecast period 2020-2025. The change in demand for various types of dietary supplements, protein bars, and energy drinks among athletes and bodybuilders is one of the major factors driving the market growth. Rising disposable income, rapid urbanization, and increasing gyms and fitness centers for endorsing sports with fitness nutrition products will fuel the market’s growth.
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Rendering to the International Health Racquet and Sportsclub Association (IHRSA) report, it was valued that the US is home to nearly 38,477 health clubs in 2018. Besides, the US’s health club membership increased from 50.2 million in 2012 to 60.9 million in 2017, signifying a rise in awareness regarding physical fitness among the US population, thus driving the demand for fitness sports nutrition products.
The rise in importance of leading an active life among youths is influencing sports nutrition product adoption. Also, the rising penetration rate of consumers in fitness sports or fitness activities is increasing rapidly worldwide. According to the ‘Physical Activity Council’ report in 2018, almost 64% of the US population aged six and above are engaged in high-intensity running, training, and jogging. Consumers from developing and developed countries are also becoming increasingly aware of the importance of consuming sufficient nutrients, thereby driving the sports nutrition products demand during the forecast period. Moreover, shifting the demographic base from core athletes who regularly consume sports nutrition products to lifestyle users and recreational users focusing on adopting a healthier lifestyle is expected to create market growth opportunities globally.
Moreover, the easy accessibility of nutritional supplements plays a vital role in market growth. The emergence of e-commerce led to an increase in these products’ sales, particularly in emerging economies, including India, China, and Brazil. Also, several players in the market are launching their business over e-platforms to increase their market share. For instance, in 2016, Zota Healthcare launched Nutravedic, an eCommerce portal.
Rising Demand for Sports Drinks
The global market has witnessed that the sports drink segment is lifestyle-driven. The growing concerns about physical well-being and leading a healthy lifestyle are the major growth drivers for the sports drink segment. Also, the increasing trend of fitness across the world is further expected to drive sports drinks sales. With the growing popularity of fitness programs, due to the increased emphasis on leading a healthy lifestyle, sports drinks’ consumption increases substantially, as they benefit in rehydrating the body. Moreover, the health clubs and fitness centers have witnessed consistent growth due to increased health concerns and lifestyle changes in recent years. The growth in health awareness and the need for adequate nutritional content have also fostered sports nutrition products’ demand.
Segmentation Overview of the Global Sports Nutrition Market
The sports nutrition market has been segmented into Type, Antibacterial Drug Class, Route of Administration, and Distribution Channel. These major market segments are further categorized into various sub-segments to study the market in detail.
By Type Outlook (Sport Food, Sports Drink, Sports Supplement) By Distribution Channel Outlook (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, Other Distribution Channels)
Key Players Insights
Glanbia plc, PepsiCo, Inc., MusclePharm Corporation, The Coca-Cola Company, Clif Bar & Company, GNC Holdings Inc., Bulk Powders, Abbott Laboratories Inc., and Multipower, among others, are some significant players included in the research study of the global sports nutrition market.
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