May 22, 2024
Bodybuilding Supplements Market

Global Bodybuilding Supplements Market is Estimated to Witness High Growth Owing to Increasing Health Consciousness Among Consumers

Bodybuilding supplements help in improving muscle strength and endurance by promoting muscle growth. Products like whey protein, creatine, glutamine, multivitamins, and pre-workout supplements are commonly used by bodybuilders. The demand for these supplements is being driven by an increasing number of health and fitness enthusiasts who want to build muscles and enhance physical performance. The ubiquity of online fitness influencers and social media further fuels this trend by making bodybuilding more mainstream.

The Global Bodybuilding Supplements Market is estimated to be valued at US$ 22.31 BN in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 t0 2031.

Key Takeaways

Key players operating in the Global Bodybuilding Supplements are Glanbia plc, Abbott, GSK, Amway, Nestlé S.A., MusclePharm., BA Sports Nutrition, CSN, AMCO Proteins, DYMATIZE ENTERPRISES, LLC., CytoSport Inc., Iovate Health Sciences International Inc, RSP Nutrition, GELITA AG, Hoogwegt., Mondelez International group., QuestNutrition & WorldPantry.com LLC., and The Bountiful Company. These players are focusing on new product launches and expansion strategies to gain a competitive advantage in the market.

The key opportunities in the market include growing demand from Millennials and Generation Z due to changing lifestyles. Furthermore, the proliferation of fitness events and competitions has also opened new avenues for supplement brands.

Global Bodybuilding Supplements Market Size is driven by the increasing health awareness in developing regions of Asia Pacific, Middle East, and Latin America. International brands are capitalizing on this opportunity through partnerships with local distributors.

Market Drivers

The high growth of the Global Bodybuilding Supplements Market can be attributed to the increasing number of gyms and fitness centers around the world. As it becomes more convenient for people to work out, the demand for supplements that enhance muscle development is also rising. The Covid-19 pandemic has further accelerated this trend as home workouts gained popularity during lockdowns. Rising standards of living also contribute to the market growth as consumers have more discretionary income to spend on their fitness needs.

PEST Analysis
Political: The global bodybuilding supplements market is regulated by various governing bodies such as the Food and Drug Administration in the US and European Food Safety Authority in the EU. These authorities implement regulations regarding production, labeling, and marketing of supplements.

Economic: Rising disposable incomes and growing health awareness are driving consumer spending on fitness and supplements. However, economic slowdowns can negatively impact discretionary spending on supplements.

Social: Growing popularity of fitness lifestyles, bodybuilding exercises, and power sports has increased social acceptance of supplement usage. Social media further promotes supplements usage among health-conscious individuals.

Technological: Innovation in supplement formulations helps deliver nutrients efficiently. Technological developments aid in new product launches catering to specific nutritional needs of bodybuilders. Companies also leverage digital platforms for marketing and sales of supplements.

The regions of North America and Asia Pacific account for over 65% of the global market value due to high consumption and availability of products. North America currently holds the largest share due to favorable consumer mindset towards fitness and adopted bodybuilding culture.

The Asia Pacific region is projected to be the fastest growing market during the forecast period. Countries like China, India, and Japan are witnessing rising spending power and health awareness. Growing youth interest in fitness coupled with expanding retail channels will drive the APAC market for bodybuilding supplements.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it