Sports Supplements Market Revenue Forecast Report: Size, Share, Recent Trends, Strategic Developments, Segmentation Analysis, and Evolving Opportunities, 2024–2030

Market Overview

The sports supplements market is USD 12.7 Billion (E) in 2023, and it will observe a 6.6% CAGR during 2024–2030, to touch USD 19.8 Billion in 2030.

The growth of this industry is primarily because of the surging count of fitness centers and health clubs, which actively recommend sports nutrition products for health and physical wellbeing. The increasing purchasing power of customers and the surging rate of urbanization will further boost this industry.

Customers now prefer sports supplements that offer more advantages over conventional ones at an affordable price. This has forced the manufacturers of sports supplements to increase investments for the development of such products. Furthermore, the players are also investing in clinical research and introducing new products. For instance, in October 2022, Optimum Nutrition, a subsidiary of Glanbia plc, introduced Gold Standard 100% Plant protein powder, manufactured using 100% vegan sources.

Rising Awareness regarding Preventive Health Is Key Trend

People are following a healthy lifestyle and consuming wholesome food because of the surging awareness of superior foods that offer dietary support as well as positively impact the overall wellbeing.

The consumption of unhealthy food and inactive lifestyles have led to the surge in the occurrence of obesity and various other illnesses. This is resulting in the growing preference of consumers for products that contain high protein for weight management.

Moreover, various market players are providing products that contain high-quality protein, as well as various other nutrients, to meet the consumer demand. The increasing demand for protein-rich food among millennials will further boost the progress of this industry.

Mounting Elderly Populace with Digestive Insufficiencies Is Major Driver

It is highly essential to take a balanced diet to maintain proper nutrition levels in the body. However, this becomes difficult for the elderly population due to their often ill health and food allergies. Various factors, such as dental issues and side-effects of medicines, hinder elderly people from getting the diet they need, thus leading to nutrient deficiencies.

Moreover, the weakened ability of their intestines and stomach decreases the production of digestive enzymes, thus resulting in gastrointestinal illnesses and poor absorption of nutrients from food. Thus, the consumption of sports and general dietary supplements, as recommended by a doctor, assists in enhancing digestion and easy nutrient absorption.

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Increasing Online Sales of Sports Supplements To Boost Market

Nowadays, online shopping is one of the preferred ways of buying consumer products, particularly for those living in urban areas. Such channels offer convenience and advantages, such as additional discounts, shopping from the comfort of home, doorstep delivery, and time-saving. Such advantages are resulting in the surging sales of sports supplements all over the world.

Organic Category Will Observe Faster Growth

Organic sports supplements, based on source, are expected to advance at the higher rate throughout this decade. Various studies state that organic sources, such as blueberries, carrots, zucchini, and apples, have significantly higher antioxidant concentrations and various other nutrients than non-organic sources. Moreover, consuming sports supplements made from plant sources offers minerals, vitamins, as well as various other essential nutrients. In addition, it is easier for the body to absorb nutrients from organic sports supplements.

Protein Supplements Account for a Significant Share

The protein supplements category, based on type, accounts for a significant share of the industry. The increasing online sales and easy availability at conventional stores will boost the consumption of protein supplements throughout this decade. Moreover, the surging requirement for such products from bodybuilders, casual exercisers, and athletes will help in boosting the demand for protein supplements.

The demand for additional protein content among users is essentially driven by the crucial role these nutrients play in the maintenance and augmentation of the muscle mass. Further, a key market trend in regard to proteins is the rising consumption of whey powder among gym-goers. Additionally, energy bars, which are packed with such nutrients, have become widely popular as an on-the-go snack, especially among those with a tight schedule and less time to cook.

Supermarkets and Hypermarkets Category Is Dominating Distribution Channel Segment

The supermarkets and hypermarkets category, based on distribution channel, is dominating the industry. Such stores offer a large variety of good-quality products by different brands to customers. They also allow people to thoroughly read the packaging for nutritional and ingredient details, compare products of different companies, and make enquiries to the salespersons.

Additionally, supermarkets and hypermarkets often offer appealing discounts, which encourages consumers to purchase more products at a lower cost. It is advantageous for both the stores and the buyers, particularly those who purchase their products in large quantities.

North America Is Market Leader

North America is leading the industry, and it is likely to propel at a significant rate during the projection period. This is primarily because of the surging consciousness about the importance of fitness amongst the people in Canada, and the U.S. Furthermore, the increasing awareness of the health advantages of such supplements, as well as their surging acceptance among the millennial population, help in the progress of the industry.

In addition, the surging count of sports supplement product launches, as well as the existence of important players in the region, will further boost the sales revenue.

APAC is likely to propel at a significant rate during the forecast period. This can be attributed to the increasing disposable income, the existence of major distributors, and the rising consciousness regarding health and fitness in the continent. Moreover, the recent advancements in the ultra-processed food industry of the Philippines, China, and India will boost the regional industry.

Moreover, India and China have two of the largest sporting as well as aging populations in the world. While the sporting population needs supplements for added energy, the elderly need to meet their recommended nutrient intake, which cannot be accomplished from food directly. Further, the trend of veganism is growing in the region, forcing the players to come up with plant-based protein and other sports supplements.

Major Players in Sports Supplements Market Include:

• ATLANTIC GRUPA DD
• Enervit S.p.A.
• Creative Edge Nutrition Inc.
• GlaxoSmithKline plc
• Harbin Pharmaceutical Group Co. Ltd.
• Glanbia plc.
• SciTec Incorporated.
• Nature's Bounty Co.
• Herbalife Nutrition Ltd.
• HNC Healthy Nutrition Company GmbH
• Ascendis Pharma A/S
• Universal Nutrition