Global Sports Nutrition Market Set For 10.6% Growth, Reaching $65.04 Billion By 2028

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The sports nutrition market has seen significant growth in recent years. It is set to grow from $39.46 billion in 2023 to $43.49 billion in 2024 at a sturdy compound annual growth rate CAGR of 10.2%. This historic period growth can be largely attributed to increased health club memberships, rise in sports events, consumer inclination towards an active, healthy lifestyle, and the growing adoption of dietary supplements by gym enthusiasts.

What Will Be the Sports Nutrition Market's Value in the Coming Years?

Sports nutrition market is expected to see a rapid growth in the next few years, with projected growth to $65.04 billion in 2028 at a compound annual growth rate CAGR of 10.6%. The growth in the forecast period may be attributed to an increasing gym membership, increasing participation in sports and government initiatives. Major trends in the forecast period include increasing investments, focus on ready-to-drink whey protein, use of vegan-based products, development of a clean label ingredient, launch of functional food and beverages, focus on developing ket*o-genetic sports nutrition and focus on performance nutrition.

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Why Is the Sports Nutrition Market Growing?

Increasing gym memberships are expected to contribute to the growth of the sports nutrition market during the forecast period. Sports nutrition comprises post-workout supplements whey protein and amino acids, used for muscle growth and recovery, and pre-workout nutraceuticals energy drinks and bars, carbohydrates and minerals, used for boosting energy levels, hydration, and increasing muscle strength. For example, in September 2022, around 52.6 million people were going to the gym in the United States, according to Gymdesk. This expectation is based on 64.19 million US gym memberships minus the 18% of memberships that go unused. Therefore, the increasing gym memberships are expected to positively impact the growth of the sports nutrition market.

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Who Are the Main Players in the Sports Nutrition Market?

Major companies operating in the sports nutrition market include Glanbia Plc, PepsiCo Inc, Post Holdings Inc, Abbott Laboratories, Otsuka Pharmaceutical Co. Ltd, GNC Holdings Inc., The Coca-Cola Company, Nestle SA, Clif Bar & Company, MusclePharm Corporation, and several more. These key industry players are developing innovative strategies and investing in research and development activities to stay ahead in the competitive market.

What Are the Emerging Trends in the Sports Nutrition Market?

The sports nutrition industry is witnessing a growing trend towards the use of vegan-based products. This is a result of a surge in consumers opting for plant-based diets. With the increasing demand for veganism, plant-based nutrition is gaining popularity in the arena of sports nutrition. Manufacturers are jumping on board by launching plant-based versions of their sports protein bars, powders, and Ready-to-Drink RTD drinks.

How Is the Sports Nutrition Market Segmented?

The sports nutrition market covered in this report is segmented into the following categories:

1 By Type: Sports Bars, Sports Drinks, Sports Powder, Sports Supplements, RDT Ready-To-Drink Protein Drinks, Other Types
2 By Raw Material: Animal Derived, Plant-Based, Mixed
3 By End Users: Athletes, Fitness Enthusiasts, Bodybuilders, Lifestyle Users
4 By Distribution Channel: Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Stores, Other Distribution Channels

What Are the Regional Demographics of the Sports Nutrition Market?

North America holds the distinction of being the largest region in the sports nutrition market as of 2023. However, Asia-Pacific is set to be the fastest-growing region in the forecast period. The regions covered in the sports nutrition market report encompass Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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