The ‘Global Sports Supplements Market Share, Size, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global sports supplements market, assessing the market on the basis of its segments like nature, type, distribution channel, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 8.6%
The thriving dietary supplement industry is driving the market for sports supplements. The increasing inclination towards health and fitness is also propelling the sales of sports supplements. The growing enthusiasm for sporting activities among the youth is further offering lucrative growth opportunities to the sports supplements market.
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Over the forecast period, the anticipated increase in demand for protein-based sports supplements among the health-conscious population owing to the rising prevalence of various health issues is likely to add to the market growth.
The increasing demand for ready-to-eat protein bars and protein shakes with excellent nutrition and flavour profiles is supporting the market. Moreover, the growing requirement for performance enhancers among professional athletes to improve vision, bolster bone strength, augment anaerobic threshold, and boost confidence is likely to provide impetus to the global sports supplements market.
North America accounts for a considerable share of the market owing to the increasing number of athletes and the growing health consciousness. In addition, the increasing cases of obesity across the United States are encouraging the youth to adopt sports as hobbies. This, in turn, is expected to surge the popularity of sports supplements in the region.
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The Asia Pacific is likely to witness healthy growth in the forecast period owing to the large population base in emerging economies such as India and China, coupled with the increasing inclination towards sports such as cricket, basketball, and soccer, among others. The strong foothold of major sports supplement manufacturers in the region is likely to aid the sports supplements market in the forecast period.
Sports Supplements Industry Definition and Major Segments
Sports supplements are defined as nutrition-rich consumables which are made to increase the athletic capabilities of a person. These supplements contain vitamins and minerals intended to fulfil the nutritional requirements of the body. Sports supplements can be taken in the form of powders, pills, solid foods, or even beverages.
Based on nature, the market can be segmented into:
The market can be broadly categorised based on type into:
- Ready to Drink
- Non- Protein
- Amino Acids
- Beta Alanine and L- Carnitine
By distribution channel, the market is segmented into:
- Hypermarkets and Supermarkets
- Pharmacy and Drug Stores
- Speciality Stores
On the basis of region, the market can be categorised into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Sports Supplements Market Trends
The key trends in the sports supplements market include the growing prevalence of lifestyle-related disorders such as stroke, hypertension, and obesity, among others. The increasing awareness regarding the nutritional benefits of sports drinks and energy bars is likely to bolster their sales in upcoming years.
Over the forecast period, sports supplements are likely to witness an increase in sales volume via e-commerce channels such as Amazon. Various online platforms are encouraging the consumption of sporting foods and beverages by enabling greater access and bolstering the convenience of consumers by providing home delivery.
The sports supplements market is likely to be augmented by the aggressive branding, advertising, and promotion of high-quality products by the major manufacturing companies. With increased exposure to fitness-related content on social media platforms, proliferation of fitness centres, the increasing inclination towards healthy lifestyles, and rising concerns regarding body images, the demand for sports supplements among the young population is expected to grow in the forecast period.
The growing research and development activities by the leading sports supplement manufacturers to produce sports drinks, powders, and bars with enhanced flavours and fewer calories are expected to fuel the market. Moreover, the increasing competition between key players is likely to prompt the development of innovative sports supplements in the forecast period.
Key Market Players
The major players in the sports supplements market report are Hormel Foods, LLC, General Nutrition Centers, Inc., Post Holdings Inc., and Cardiff Sports Nutrition Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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