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The Sports Supplement Market size is projected to increase by USD 2,221.42 million and the market size is estimated to grow at a CAGR of 8.52% between 2022 and 2027.
This sports supplement market report extensively covers market segmentation by type (protein and non-protein), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
The growing interest in sports and fitness activities is driving the sports supplement market. Participation in sports improves physical fitness, prevents childhood obesity, and reduces the risk of diseases like diabetes. Sports supplements aid muscle development and athletic performance by providing essential nutrients. This trend is expected to fuel the global sports supplement market during the forecast period. It also includes an in-depth analysis of drivers, trends, and challenges.
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The primary trend in the sports supplement market is increased online sales. Retailers focus on improving the online shopping experience through education and targeted marketing, making it easier for consumers to buy sports supplements online. The growing interest in sports nutrition products further drives online sales, providing customers with a wide variety of choices from different vendors. The popularity of e-commerce presents new opportunities for merchants to reach a global customer base and enhance efficiency. This trend is expected to drive the growth of the global sports supplement market.
The sports supplement market faces a significant challenge of counterfeit products. These substandard items with lower prices can pose health risks due to improper ingredients, such as steroids. Counterfeits also damage the reputation of leading brands, affecting their market share. The lack of effective monitoring and supervision allows counterfeiting to persist, leading to consumer misperceptions and hindering market growth.
The market has two distribution channels: offline and online. The offline segment holds the largest share, allowing customers to physically inspect products and avoid counterfeit items. In developing countries like China and India, the number of retail outlets and gym facilities is increasing, supporting the offline segment's growth.
The online store segment is the fastest-growing, driven by convenience, extensive product variety, and discussions about sports supplements online. Increasing Internet users and searches related to sports supplements contribute to its growth. In the APAC region, the rising e-commerce industry presents a valuable opportunity for manufacturers to tap into untapped markets and raise awareness through online retailers and social media.
The market share growth by the protein segment will be significant during the forecast period. The protein segment dominated the global sports supplement market, with the highest market share in 2022. For muscle repair and growth, protein plays a key role. Professional athletes and fitness fanatics are often using protein supplements as part of their training regimen. These supplements provide a convenient and easily digestible source of protein, which helps promote muscle protein synthesis and aids in muscle repair.
The protein segment was valued at USD 1,824.15 million in 2017 and continued to grow until 2021
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The growing emphasis on health and fitness has led to an increased demand for sports supplements, particularly protein-based ones, as people seek convenient solutions to support their fitness goals. This trend is expected to drive the global sports supplement market during the forecast period.
Besides protein-based supplements, the non-protein segment also experiences significant demand in the sports and fitness industry. Various non-protein sports supplements containing ingredients like caffeine, creatine, beta-alanine, and nitric oxide boosters have shown the potential in enhancing energy, strength, power, focus, and endurance during exercise. Athletes, fitness professionals, and social media influencers have a significant role in promoting these sports supplements.
North America is estimated to contribute 46% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In 2022, in North America, the sports supplement market was led by the US, followed by Canada and Mexico due to the increased awareness about the health benefits of proteins and the importance of an active lifestyle. The adoption of sports supplements in the region is also boosted by increasing consumer awareness among athletes that their bodies do not have enough nutrients for intense physical exercise. The demand for sports supplements from bodybuilders and athletes, as well as casual users with a focus on stamina and endurance, has also increased due to changing consumer demographics. Sports supplement manufacturers are benefitting from the expanding market through continuous product innovations and improvements, such as fewer complex formulations and more convenient formats.
The sports supplement market in North America witnessed slow growth in 2020 due to the outbreak of the COVID-19 pandemic, which impacted sports and gym activities, thereby reducing the demand for sports supplements in the region. However, in 2021, due to the availability of vaccines, the number of COVID-19 cases decreased, and the sports supplement market in the region recovered with significant growth. E-commerce played a vital role in the sales of sports supplements, as offline distribution had many restrictions. During the forecast period, customers have been shifting to the outdoors as a result of closed gyms and other interior activities; this trend will be maintained. In view of such factors, the market for sports supplements in the region is projected to grow over the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The sports supplement market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The sports supplement market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Sports Supplement Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.52% |
Market growth 2023-2027 |
$ 2221.42 million |
Market structure |
USD Fragmented |
YoY growth 2022-2023(%) |
8.14 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 46% |
Key countries |
US, Canada, China, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Amway Corp., Ascendis Health Ltd., Associated British Foods Plc, BPI Sports, Clif Bar and Co., Competitive Edge Labs LLC, Glanbia plc, GlaxoSmithKline Plc, Haleon Plc, Herbalife International of America Inc., Meiji Holdings Co. Ltd., MusclePharm, Nestle SA, NOW Health Group Inc., PacificHealth Labs, Pro Action srl, Universal Nutrition, Vitaphar NV, and Weider Global Nutrition LLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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