May 25, 2024
Sports Nutrition Market

The Growing Need for Nutritional Support in Sports Driving the Sports Nutrition Market

Sports nutrition products aim to provide athletes with an increased level of energy, enhanced physical strength and improved recovery during and after workouts or training sessions. Commonly consumed sports nutrition products include sports drinks, energy bars, protein bars and supplements containing protein powders, creatine, BCAAs and other components. These are designed to enable athletes to push their limits without any compromise on their health or energy levels.

The global sports nutrition market consists of a wide variety of energy products including drinks, snacks, supplements as well as meal replacements for athletes. Drinks provides timely hydration and electrolytes to the body whereas supplements such as protein powders help build and repair muscles allowing athletes to train intensely. The snacks and bars category within the sports nutrition space offer products enriched with protein, carbs and other essential micronutrients for slow release of energy during training or competition. With rising health awareness, meal replacement products are also gaining popularity among sportspersons as they offer balanced nutrition.

The global Sports Nutrition Market is estimated to be valued at US$ 46.83 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends witnessed in the global sports nutrition market is the surge in demand for plant-based proteins. With growing consumer preference for vegan and vegetarian products, brands have introduced nutrition bars, powders and ready-to-drink shakes containing pea, soy, rice or other plant-based alternatives to whey or other animal proteins. Another notable trend is the adoption of more clean label products with short, easily understandable ingredient lists and absence of artificial preservatives, flavors or sweeteners. Consumers are also showing interest in specialty products tailor-made for different types of sports or post-workout recovery needs driving innovations in the space.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is low as the sports nutrition market requires high R&D investment and established brand recognition. Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established brands to choose from but buyers have some preferences for popular brands. Bargaining power of supplements: The bargaining power of suppliers is moderate as key raw materials like protein, vitamins, minerals etc. have many substitutes available. Threat of new substitutes: The threat of new substitutes is moderate as protein bars,energy drinks, meal replacement shakes offer similar nutrition benefits. Competitive rivalry: The competitive rivalry is high among established brands to gain market share through innovation,marketing and brand loyalty programs.

Key Takeaways

Global Sports Nutrition Market Demand is expected to witness high growth.

Regional analysis: The North America region currently dominates the global sports nutrition market owing to high consumer awareness and spending on health and fitness products. Key players are focusing on the Asia Pacific region for market expansion due to rising youth population, increasing disposable incomes and growing health consciousness.

Key players operating in the Sports Nutrition Market are Novartis, Pfizer, Roche, Sanofi, Merck &Co., AstraZeneca, GlaxoSmithKline, Johnson & Johnson, Gilead Sciences, and others. Sports nutrition products such as sports drinks provide hydration and carbohydrates to boost energy levels during workout. Protein supplements and bars are popular post-workout to aid muscle recovery and growth. Vitamin & mineral supplements ensure adequate micronutrient intake for athletes.

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