The global sports food market is projected to generate $128,735.1 million revenue by 2030, advancing at a CAGR of 7.3% during 2021–2030. This can be ascribed to the growing consciousness toward a healthy lifestyle and nutritional diet, increasing number of fitness centers and health clubs, surging consumer preference for ready-to-eat sports food products, and rising disposable income.
Based on distribution channel, the market is categorized into supermarkets & hypermarkets, online stores, convenience stores, and drug stores. Among them, supermarkets & hypermarkets held the largest revenue share in 2021, and they are expected to maintain their dominance during 2021–2030. This will be due to the increasing availability of sports food products, growing urbanization, and increasing per capita income, which is driving consumer spending. Moreover, this distribution channel brings such products within easy reach of consumers, along with monthly groceries, thus propelling the market growth.
Based on product type, the market is divided into dietary supplement powders, energy bars, sports drinks, protein bars, and sports gels. Among these, dietary supplement powders held the largest revenue share in 2021, and this category is expected to maintain its position during the forecast period. This can be ascribed to the growing need for health supplements owing to the lack of certain nutrients in regular meals, growing sports industry, rising demand for plant-based proteins, and increasing focus of individuals on improving health and fitness. Moreover, soy, pea, and whey-based protein powders are the most-common products used by athletes and sportspersons, which are aiding the category advance.
Additionally, the proteins category, based on nutrient, was the largest revenue contributor in 2021. This is due to the growing demand for these nutrients among athletes and bodybuilders, rising knowledge about the importance of proteins in the daily life, and increasing number of gym goers.
Geographically, North America emerged as the largest revenue contributor in 2021, and it is further expected to dominate the market during the forecast period. This can be attributed to the growing preference for ready-to-eat food, surging number of sports enthusiasts, huge consumer base, and high number of prominent sports food vendors in the region. Furthermore, the U.S. generates the majority of the revenue in the North American sports food market, owing to the presence of well-known market players, high preference for healthy lifestyles, and the surging adoption of new health-related products.
APAC will register the fastest growth during the forecast period. This will be due to the growing consciousness of health, surging population, rising preference for highly nutritional food among adults, and rising disposable income. Additionally, industry giants have heavily invested in emerging economies to set up their manufacturing facilities, in order to expand their capabilities and consumer base.
Some of the major players in the sports food market are Clif Bar & Company, Nestlé S.A., Abbott Laboratories, GlaxoSmithKline plc, Glanbia plc, and GNC Holdings LLC.