July 18, 2024
Sports Nutrition Market

Protein Powders is the largest segment driving the growth of Sports Nutrition Market

The global Sports Nutrition Market is estimated to be valued at US$ 46.83 Bn or Billions in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Sports nutrition products include sports drinks, supplements such as protein powders, iso drinks etc. These products provide energy, carbohydrates, proteins, vitamins and minerals that helps athletes and sportspersons to gain strength and stamina.

Market key trends:
One of the key trends in the sports nutrition market is the growing demand for plant-based protein products. Consumer preference for vegan and vegetarian dietary habits have increased significantly in recent years. Plant-based protein powders made from soy, rice and pea are gaining popularity among health conscious consumers who wish to follow sustainable dietary choices. Sports nutrition brands are launching innovative plant-based protein powders to cater to this growing consumer segment.
SWOT Analysis
Strength: The sports nutrition market has witnessed high demand for products that promote muscle growth and strength. Sports supplements provide essential nutrients for athletes.
Weakness: Lack of proper regulatory standards and misbranding of products lead to safety issues. Side effects of excessive intake can be a concern.
Opportunity: Rising health consciousness and increasing participation in sports and fitness activities are driving the demand. Product innovation with natural ingredients offers opportunities.
Threats: Strict regulatory norms can impact companies. Growing preference for organic and plant-based products is a threat for conventional brands.

Key Takeaways
The global Sports Nutrition Market Share  is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing health consciousness among consumers. Rising awareness about the importance of fitness and maintaining a healthy lifestyle is fueling the demand for sports supplements.

Regional analysis
North America dominates the global sports nutrition market and is expected to continue its dominance over the forecast period. Growing participation in sports activities coupled with the presence of major players in the region is driving the North America market. Asia Pacific is expected to be the fastest growing region in the sports nutrition market owing to increasing spending on fitness products and growing middle-class population in countries such as India and China.

Key players operating in the sports nutrition market are Maxinutrition, Glanbia, PepsiCo, GNC Holdings, Clif Bar & Company, The Coca-Cola Company, and Universal Nutrition. The market is highly competitive with companies introducing innovative products catering to specific nutrition needs of fitness enthusiasts and athletes. Companies are also focusing on offering organic and natural ingredient-based products to capitalize on the growing consumer preference for clean label products.

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