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Sports Nutrition Market - Growth, Trends, and Forecasts (2020 - 2025)

Sports Nutrition Market - Growth, Trends, and Forecasts (2020 - 2025)

  • August 2020
  • 155 pages
  • ID: 5893119
  • Format: PDF
  • Mordor Intelligence LLP

Summary

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The sports nutrition market is projected to record a CAGR of 11.74% during the forecast period (2020-2025).

- Major consumers in this market are athletes and bodybuilders; however, the consumption of sports nutrition products has increased among recreational and lifestyle users too, owing to the increased health awareness and rising disposable income levels of consumers. Thus, the growth rate of the sports nutrition market is attributed to not just sportspersons, but to casual athletes and dieters as well, who are joining the general health and wellness movement. Indulgence buying and product knowledge are the key factors driving the growth rate.
- By type, the sports supplement segment occupied a major share, due to the increased regularized usage of sports nutrition products by sportspersons in the form of supplements. The growing preference for personalized nutrition is one of the key market trends, which may further stimulate market growth.

Key Market Trends
Increasing Demand for Sports Drinks

The sports drink segment is lifestyle-driven. The increasing concerns about physical well-being and leading a healthy lifestyle are the major growth drivers for the sports drink segment. Also, the increasing fitness trend across the world is further expected to drive the sales of sports drinks. With the growing popularity of fitness programs, due to the increased emphasis on leading a healthy lifestyle, the consumption of sports drinks is rising substantially, as they help in rehydrating the body. Moreover, in recent years, health clubs and fitness centers have witnessed consistent growth, due to an increase in health concerns and changes in lifestyle. The rise in health awareness and the need for adequate nutritional content in food have also fostered the demand for sports nutrition products.

Asia-Pacific is the Fastest-growing Market

The strong fitness culture across countries, such as China, Japan, and Australia, and the wide availability of sports nutrition products, with a plethora of brands on the market and constant new product launches, are some of the factors contributing toward increasing the market for sports nutrition products across Asia-Pacific. Additionally, the increasing dependency on social media is a significant factor in the success of sports nutrition brands, with the use of social media channels, including Instagram and Facebook, as well as brand ambassadors, having a strong influence on sales. Furthermore, the increasing government efforts to educate consumers on the importance of fitness are further adding to the overall revenues in the Asia-Pacific sports nutrition market. In this regard, in 2016, the Chinese government introduced the National Fitness Programme, encouraging consumers to take part in various sports activities being held throughout the country, such as marathons, thus, in turn, boosting the sports nutrition market in the region.

Competitive Landscape
The sports nutrition market is highly competitive and fragmented, with the presence of various international and domestic players. Though there are many local players in the sports nutrition market, brand value, high distribution network, and the demand for clean label products give the global players an upper edge over the regional players. Major players in the sports nutrition market are Glanbia PLC, PepsiCo Inc., MusclePharm Corporation, The Coca-Cola Company, Clif Bar & Compan, Multipower, etc.

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