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Sales of Sports Supplements are forecasted to reach US$ 27.89 billion by 2034

04-16-2024 02:33 PM CET | Sports

Press release from: Fact.MR

Sports Supplement Market

Sports Supplement Market

As per a new industry analysis by Fact.MR, a market research and competitive intelligence provider, the global Sports Supplement Market is exhibiting substantial growth and is projected to advance at a CAGR of 12.1% and reach a size of US$ 27.89 billion by 2034-end. This rise is being driven by growing fitness awareness and an increasing number of health-conscious consumers.

Protein powders, energy bars, and nutritional supplements targeting particular fitness objectives including weight loss, muscle gain, and endurance enhancement are just a few of the products available in the market.

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Manufacturers are continually innovating to meet evolving consumer preferences, introducing products with cleaner labels, organic ingredients, and plant-based formulations. The digital revolution has catapulted online sales of sports supplements, offering consumers convenience and a wide array of choices.

The market stands at the intersection of health, fitness, and innovation, reflecting a global trend toward prioritizing physical well-being. Innovation plays a pivotal role in this market, with companies constantly striving to introduce novel formulations and ingredients. Trends toward natural and organic components, clean labeling, and plant-based alternatives align with the growing preference for healthier and more sustainable options among consumers.

Key Takeaways from Market Study
The global sports supplement market is projected to expand at a high-value CAGR of 12.1% through 2034.
North America is estimated to hold a market share of 25% in 2024.
The animal-derived segment is set to account for a market share of 41.8% in 2024.
Demand for sports supplements is projected to reach a market value of US$ 27.89 billion by the end of 2034.
East Asia is estimated to account for a market share of 20.2% in 2024.
The plant-derived segment is predicted to advance at a CAGR of 12.8% through 2034.

"The sports supplement market continues to evolve in tandem with changing consumer preferences and lifestyle trends. Its trajectory is marked by innovation, driven by the pursuit of better performance, recovery, and overall well-being," says a Fact.MR analyst.

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Influence of Social Media on Sports Supplements Shaping Consumer Behavior

Social media serves as an unparalleled platform for influencers, athletes, and fitness enthusiasts to showcase their lifestyles and endorse products. Celebrities and fitness icons leveraging their massive followings on platforms like Instagram, YouTube, and TikTok wield substantial power in shaping trends and driving consumer choices.

Endorsements and testimonials shared by these influencers not only amplify product visibility but also create a sense of credibility and aspiration among their followers. The interactive nature of social media fosters a community-driven approach to fitness. Users share their fitness journeys, progress, and experiences with various sports supplements, creating a virtual ecosystem where information flows freely.

Reviews, testimonials, and user-generated content act as powerful endorsements, influencing potential perceptions of consumers and purchase decisions. Engaging content showcasing before-and-after transformations, workout routines, and visually appealing product presentations captivates audiences, fostering a desire to emulate the depicted results. This visual storytelling cultivates a strong emotional connection between consumers and the perceived benefits of sports supplements, spurring engagement and purchase intent.

The United States exhibits a robust fitness culture, with a considerable portion of the population actively engaged in sports and fitness pursuits. This cultural trend, coupled with a growing awareness of health and wellness, has led to an upsurge in the demand for sports supplements across various consumer segments, from professional athletes to fitness enthusiasts and health-conscious individuals.

The U.S. showcases a strong inclination toward innovation and entrepreneurial spirit, fostering a dynamic ecosystem where businesses strive to create cutting-edge formulations and unique products to meet evolving consumer needs.

Sports supplements are readily available through diverse retail channels, including fitness centers, specialized stores, and online platforms, leveraging the country's robust infrastructure and well-established distribution networks. The endorsement of these products by prominent fitness personalities, celebrities, and athletes on social media platforms not only heightens consumer interest but also propels market growth, making a substantial contribution to the sports supplement market share.

More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the sports supplement market for 2018 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on ingredient (plant-derived, animal-derived, blend), nature (organic, conventional), supplement type (proteins, vitamins & minerals, omega 3, 6, & 9, energy & electrolytes, others), formulation (capsules, tablets, powder, ready-to-drink liquids, bars, others), and sales channel (pharmacies & drugstores, supermarkets & hypermarkets, online channels, convenience stores, health-stores, direct sales, others), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

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About Fact.MR
Market research and consulting agency with a difference! That's why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range - from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we'll be an able research partner.

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