New York, USA, Sept. 20, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global sports nutrition and supplements market is expected to generate a revenue of $35,350.0 million by 2026, growing exponentially at a CAGR of 12.9% during the forecast period (2019-2026). The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
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Factors Influencing the CAGR Figures Pre and Post COVID-19 Outbreak
The report reveals the real-time CAGR registered by the market during the pandemic. According to the report, the market is predicted to grow at a CAGR of 12.9% during the forecast period, while it was anticipated to be 8.6% in the pre-pandemic scenario from 2019-2026. Sports nutrition and supplements are essential elements for the maintenance of a nutritional diet, which further enhances athletic performance. In addition, increasing engagement in fitness activities among the urban population meddled with the rising number of fitness centres are further expected to bolster the growth of the market during the forecast period.
Factors Influencing the Market Size Pre and Post COVID-19 Outbreak
According to the report, real-time market size has substantially increased compared to the pre-pandemic apprehensions. The real-time market size reached a revenue of $17,497.9 million in 2020, while its estimations were $16,445.4 million in the pre-pandemic scenario.
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There has been a subsequent increase in the consumption of sports nutrition products among people to improve their immune system during the pandemic. In addition, increasing awareness about various health benefits associated with the consumption of supplements is further expected to drive the growth of the market during the forecast period.
Post-Pandemic Insight
The market is expected to experience a persistent growth even after recovery from COVID-19 pandemic. More and more people around the globe suffer from nutritional deficiencies such as that of protein, calcium, vitamin, and micronutrients which might reduce the immunity of an individual. Thus, manufacturers are effectively emphasizing on R&D activities to develop potent products according to customer personalization. In addition, rising prevalence of various online fitness programs due to significant increase in internet penetration is further expected to create massive opportunities for the growth of the market in the coming years.
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Key Players of the Market
The major players of the market include
- Glanbia plc
- The Coca-Cola Company
- Reckitt Benckiser Group Plc
- Yakult Honsha
- POST HOLDINGS
- General Nutrition Centres, Inc.
- PepsiCo Inc.
- Otsuka Holdings Co. Ltd
- MUSCLEPHARM
- Clif Bar & Company
- Abbott
- Hormel Food Corporation
and many more. These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in April 2021, Unilever, a UK-Based dominant provider of consumer goods, acquired Onnit, Texas-based health supplements company offering products on gut health, immunity, cognitive function, mood and relaxation, and many more. This acquisition would help Unilever to tap into the worlds of sports nutrition and health supplements.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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