The global sports supplements market is projected to advance at a CAGR of 8.8% during 2012–2022. Among the various product types, the protein supplements category held the largest market share in 2015.
The rise in urban development and surge in health clubs and fitness centers are the key factors driving the sports supplements market. The surge in the demand for caffeine-free products and increased focus toward better products’ development by companies are being observed as the key trends in the market. Additionally, with the rise in health concerns among consumers, the demand for supplements with negligible side-effects has surged. Due to this, the sales of caffeine-free sports supplements have grown significantly in recent years. Several nutritionists also recommend the use of stimulant-free pre-workout supplements. As the awareness pertaining to the benefits of the ingredients used in sports supplements is growing, the demand for sports supplements is projected to surge during the forecast period.
Earlier, sports activities used to be limited to young adults; however, children have also started taking a keen interest in them. Children are getting motivated by their parents to participate in sports events, which would lead to overall development and boost their confidence level. This is expected to driving the demand for such products, and in turn, the sports supplements market during the forecast period.
Consumers’ demand for sports supplements has been inclining toward products that provide more benefits when compared to traditional products. This has impelled companies to develop new products to cater to their customers’ needs. Further, to increase the efficiency of their products, sports supplement manufacturers are focused on research and development.
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Some of the major players in the global sports supplements market are Atlantic Grupa d.d., Enervit S.p.A, Creative Edge Nutrition Inc., GlaxoSmithKline PLC, Glanbia PLC, GNC Holdings Inc., Herbalife Nutrition Ltd., Nature’s Bounty Co., Universal Nutrition, and Scitec Ltd.
Sports Supplements Market Segmentation
By Distribution Channel