Increasing Awareness and Health Concerns is expected to generate revenue for Sports Nutrition Market
As stated in our extensive report by; providing insights on Product Type, Application, Formulation, Consumer Group, Consumer Group by Activity and Region; the Global Sports Nutrition Market accounted for USD 39.3 Billion in the year 2021.
The Sports Nutrition Market is expected to witness significant growth within the forecast period on account of increasing demand from recently emerging lifestyle and recreational group. In addition, increasing health awareness coupled with increasing number of health clubs and fitness centers is also expected to boost this market within the forecast period. Apart from this, rapid urbanization, increasing disposable income augmented with increasingly purchasing sports nutrition products as healthy snacks as a part of diet are also expected to boost the growth in sports nutrition market.
The high number of cheap counterfeit products affects sales of reputed companies and therefore, availability of these products is expected to restrict the growth of Sports Nutrition Market. Expansion of distribution channel is also expected to be an opportunity for growth in this market in coming years.
Other major driver of these tea and coffee products is the behavior of health-conscious consumers whose preferences are with antioxidant property. Customization of healthy products for children and women are strategies of players in the market to expand the business. Positioning of the Sports Nutrition Market as recreational products has proven beneficial for engaging younger population.
Rising income of different groups in emerging economies is also a major factor that is increasing the growth rate of Sports Nutrition Market. Climate is not predictable and increase of cost in agricultural inputs had caused the increase in raw materials cost of sports nutrition foods which makes the product more expensive.
Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) in coming years due to high demand for sports fitness nutrition foods in the young population. These are few of the reasons is expected to grow in coming years.
Developing economies like India, China, and the Middle East are considered to gain huge opportunities in the sports fitness nutrition foods as consumer product. North America held the largest share of the Sports Nutrition Market in 2021, followed by Europe and the Asia Pacific. In major parts of the world, the market is still growing owing to insufficient funds, lack of education, minimum availability sports academies, underdeveloped sports facilities and social constraints.
Major players of the Sports Nutrition Market such as Iovate Health Sciences, Abbott, Quest Nutrition, PepsiCo, Cliff Bar, The Coca-Cola Company, MusclePharm, The Bountiful Company, Post Holdings, BA Sports Nutrition, Cardiff Sports Nutrition and others.
Browse the full Report - Sports Nutrition Market Size, Share & Trends Analysis Report by Product Type (Sports Supplements, Sports Drinks, Sports Foods, Meal Replacement Products), by Application (Pre-workout, Post-workout, Weight Loss, Others), by Formulation (Tablets, Capsules, Powder, Softgels), by Consumer Group (Children, Adult, Geriatric), by Consumer Group by Activity (Heavy Users, Light Users), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)