New York, March 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sports Nutrition Global Market Report 2023" - https://www.reportlinker.com/p06282430/?utm_source=GNW
Ltd., Iovate Health Sciences International Inc., GlaxoSmithKline PLC, Universal Nutrition, Ultimate Nutrition Inc., PowerBar, Atlantic, GNC Holdings, Reckitt Benckiser Group PLC., The Hut.Com Ltd., Cardiff Sports Nutrition Limited, PacificHealth Laboratories, GNC Holdings, Post Holdings, and Creative Edge Nutrition.
The global sports nutrition market grew from $35.95 billion in 2022 to $39.56 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The sports nutrition market is expected to grow to $58.29 billion in 2027 at a CAGR of 10.2%.
The sports nutrition market consists of sales of sports supplements, protein powder, energy bars, RTD protein drinks, ISO drink powder, sports drinks, and other sports nutrition.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Sports nutrition refers to a field of sports medicine that assists athletes in keeping their bodies in good condition before, after, and during exercise to reach peak performance. In this regard, many nutrients are being investigated for their ability to improve athletic performance, particularly in high-intensity sports involving repetitive effort.
North America was the largest region in the sports nutrition market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the sports nutrition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of sports nutrition covered in this report are protein powder; ISO drink powder; sports supplements; RTD protein drinks; sports drinks; energy bars.Protein powders are powdered proteins derived from plants, eggs, or milk.
The ISO drink powder is an amino acid that aids in cardiovascular health, electrolyte balance, insulin sensitivity and other functions.Sports supplements are powders, pills, or drinks that are used to increase muscle mass, decrease weight, or increase endurance.
RTD protein drinks typically include 8–15% standard protein on average, manufactured with milk protein or whey protein isolate.Sports beverages restore glucose and electrolytes lost during severe exercise while also increasing endurance.
Energy bars are regarded as a convenient on-the-go snack that provides a quick burst of energy. Based on raw materials, the market is segmented into animal-derived; plant-based; and mixed. The various distribution channels are supermarkets and hypermarkets; specialty stores; convenience stores; online stores; and other distribution channels. Commercial users, body builders, recreational users, and athletes are the most common end-users of sports nutrition products.
Growing awareness of fitness and active living is significantly driving the growth of the sports nutrition market.The growing awareness of fitness and active living increases the inclination towards sports and fitness activities and, thereby, the consumption of sports nutrition products.
The increasing awareness of fitness makes consumers seek proper and nutritious supplements.According to the 2020 IHRSA (International Health, Racquet & Sportsclub Association) Health Club Consumer Report, the number of times Americans used a health club increased by 45% between 2010 and 2019.
Additionally, the awareness of sports and physical recreation employment activities increased to 104200 in 2021 from 61000 in 2020. So, the increasing awareness of fitness and active living is expected to propel the growth of the sports nutrition market.
Product innovation is a key trend gaining popularity in the sports nutrition imaging market.Major companies operating in the sports nutrition sector are focused on developing innovative products to strengthen their position.
For instance, in October 2020, HealthXP, an online protein supplement store based out of India, launched Shield Whey, which blends whey protein with an array of immunity boosters, focusing on the need to increase immunity due to COVID-19.
In June 2021, GenTech Holdings, a company based in the United States that specialises in functional foods and coffee, acquired NxtBar for an undisclosed amount.With this acquisition, GenTech will implement various operational synergies, including a considerable expansion of NxtBar’s sales reach into large retail outlets with which it already has a relationship.
NxtBar is a USA-based company that produces sports nutrition products, specialising in paleo and keto-friendly bars.
The countries covered in the Sports Nutrition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The sports nutrition research report is one of a series of new reports that provides sports nutrition statistics, including sports nutrition industry global market size, regional shares, competitors with sports nutrition share, detailed sports nutrition segments, market trends and opportunities, and any further data you may need to thrive in the sports nutrition industry. This sports nutrition research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06282430/?utm_source=GNW
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