Sports Nutrition Market to Generate Revenue Worth $78.3 Billion by 2030
- Published: October 2022
The global sports nutrition market is predicted to reach $78.3 billion by 2030, growing at a CAGR of 8.2% during 2021–2030. The increasing demand from the sports industry, the growing focus to enhance physical health, the rising participation in sports & physical activities, and the surging number of competitive sporting events across the world, are some major factors that drive the market growth over the coming years.
Additionally, the consumption of nutrition products is rapidly increasing among fitness enthusiasts and active lifestyle consumers. They are utilizing these products to gain energy and muscle and support weight management. Moreover, the prevalence of lifestyle diseases such as obesity is growing at a high pace, which is expected to fuel the demand for nutrition products in the market in the coming years.
In addition, the growing inclination of the millennial population toward physical and fitness-related activities, and the rising buying power and willingness to pay for healthier alternatives are some of the major factors accelerating the demand for sports drinks. These healthy drinks provide several benefits, such as minimizing the risk of dehydration, replacing sweat, and maintaining the balance of electrolytes in the body. Therefore, the increasing awareness regarding the health benefits offered by such products among consumers is likely to augment the sports drink market growth.
Growing Consumers’ Inclination Toward Meal Replacement Products
The high prevalence of obesity, diabetes, and cardiovascular diseases, among others, is expected to propel consumers’ awareness regarding weight loss and weight management diets, which, in turn, will drive the demand for nutrition products in the market. Moreover, meal replacement products contain 200–400 calories along with fiber, protein, and other essential nutrients, which make them convenient and all-inclusive food options.
In addition, meal replacement products are easy to store and have a longer shelf-life. Most of these products are available in the form of bars or ready-to-drink shakes, which make them easy to carry and consume on the go. Many gyms promote meal replacement products to inculcate healthy dieting habits among their clients. As a result of these benefits, it is expected that the demand for nutritional products will continue to increase in the coming years.
Online Shopping Is Gaining Popularity Among Consumers
With the increased utility of e-commerce as a selling medium, nutrition product suppliers are expected to deliver their products from their in-house online portals to expand their revenue. Also, online sales increased rapidly, as consumers shifted to e-commerce to avoid crowded places and maintain hygiene due to COVID-19. Moreover, the increasing penetration of social media and the emergence of fitness online channels play a vital role in boosting the sales of nutrition products around the world. With the trend of online fitness classes, leading brands are taking the help of social media platforms to promote their brands.
Some major players operating in the sports nutrition market are Abbott, Iovate Health Sciences International Inc., Cardiff Sports Nutrition, Quest Nutrition, PepsiCo, Clif Bar & Company, The Coca-Cola Company, The Bountiful Company, Post Holdings Inc., and BA Sports Nutrition.