Sports Food Market

Sports Food Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Sports Food Market grew at a CAGR of 6.0 % between 2017-2021 and is estimated to be US$ 38,204.6 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.7% and is expected to reach a valuation of US$ 66,506.7 Mn by 2032 end.

Sports drinks hold the major sports food market share in the sports food market. The sports food market is expected to witness significant growth shortly, as increased availability of these products across the online market, supermarkets, and departmental stores is expected to drive demand.

Market Dynamic

GROWING CONCERN OVER OBESITY WILL FUEL THE MARKET FOR SPORT FOOD

Sports nutrition products are becoming increasingly popular, particularly among athletes and people who engage in strenuous physical activities. Growing emphasis on staying fit and healthy and increased participation in sports, health clubs, sports clubs, and gyms are some of the major factors driving the growth of the sports nutrition industry.

The main purpose of sports nutrition is to ensure that athletes have enough energy to perform well in their sporting events. If a person is not eating enough calories or nutrients when they need them most, then they will not be able to play at their best level.

AVAILABILITY OF ALTERNATIVES HAMPER THE MARKET GROWTH

The sports nutrition market will have slow development throughout the projected period due to the presence of inexpensive alternatives, bad press, and adverse effects.

The increased awareness about the increased risk of serious illness, a surge in the intake of high-fiber functional food, growing penetration of e-commerce platforms, especially in developing economies, and rising health awareness further affect growth in the market growth.

THE RISE IN AWARENESS REGARDING FITNESS  WILL CREATE MORE OPPORTUNITIES FOR THE MARKET

An increasing number of fitness centers are expected to fuel the market’s growth. The growing millennial population and increased social media marketing will further boost many opportunities, leading to the development of the sports nutrition market during the forecast period.

COVID-19 Impact

During the COVID-19 pandemic, consumers were concentrated on purchasing basic products, and as a result, sales of sports food declined. However, sales of sports food items and demand for sports food were significantly impacted by the temporary closure of gyms, fitness centers, health clubs, and sports institutes.

However, owing to COVID-19, online sales of sports food skyrocketed in 2020 as customers turned to e-commerce to avoid congested areas and ensure hygiene. Shortly, rising awareness of health and a healthy lifestyle is expected to fuel demand for sports food.

Market Segments Covered in Report

By Function:

• Energizing Products
• Rehydration
• Pre-Workout
• Recovery
• Weight Management

By Product Form:

• Ready-To-Drink
• Energy & Protein Bar
• Powder
• Tablets/Capsules

By Flavour:

• Regular
• Flavored
• Fruit Punch
• Berries
• Citrus
• Chocolate
• Vanilla
• Others

By Sales Channel:

• Modern Trade
• Convenience Store
• Specialty Store
• Pharmacy Store
• Online Retail
• Other Sales Channel

By Nature:

• Organic
• Conventional

By Price Range:

• Economic
• Premium

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

How will sales be impacted by the trend toward organic sports nutrition products?

Clean labels, and organic, and natural products have become the new trend in food. Consumers are becoming more sensitive to what they consume and are more concerned about what goes into their bodies. Food manufacturers are responding to this trend by increasing the production of organic and natural sports nutrition drinks and protein powders.

However, a new regulation on clean label formulation is expected to hamper the growth of the segment. Clean label formulations on sports nutrition products can confuse consumers because it can be difficult for them to identify whether a particular product is healthy or not.

Why Is Flavored Sports Nutrition Still Popular?

over 60.0% of consumers are likely to choose flavored sports nutrition products such as energy bars and sports nutrition drinks with varied Flavors such as chocolates, vanilla, fruit, and others due to their convenience factor. With the increasing demand for flavored sports nutrition drinks, manufacturers are coming up with new flavors and innovative products to gain a competitive edge in the industry.

The beverage industry has been facing stiff competition from other food and beverage categories such as coffee, tea, and juice that are gaining popularity among consumers. Rising disposable income coupled with changing lifestyle trends has encouraged people to switch over to a healthier lifestyle. This in turn has led to an increase in demand for ready-to-drink and ready-to-eat (RTE) products.

Why is the Online Retail segment expected to expand the fastest during the forecast period?

In the past few years, COVID-19 has dramatically changed how health clubs and fitness centers are marketing themselves.

Online channels have become a key component of business growth. As a result, healthy living solutions providers such as health clubs and fitness centers are relying on social media platforms such as Instagram to promote their brands. This is not surprising, given the fact that digital marketing plays an important role in boosting sales of sports nutrition products. The trend of online fitness classes has made leading brands take shelter on social media platforms such as Instagram to promote their brands.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• In 2021, the Europe market held a sizeable revenue share of 34.5%. The U.K. is anticipated to be the fastest-growing market across Europe due to the high prevalence of chronic illness and lifestyle disorders in the country. Increasing obesity rates in the country have compelled consumers to switch to sports nutrition healthy drinks and protein energy bars.
• The U.S. sports nutrition market is booming, and the growth is driven by several factors. The worldwide lockdown has helped increase awareness about health and fitness, which has led to more demand for plant-derived ingredient sports nutrition products. Consumers are also increasingly recognizing the benefits of soy protein and pea protein, which positively impacts the sports nutrition market.

Competition Analysis

Major corporations are utilizing organic and inorganic development tactics to strengthen their position in the market by diversifying the products they provide.

Some of the key developments that have taken place in the Sports Food Market include:

• In December 2020, Leading U.S. advanced nutrition business MYOS Corporation signed an exclusive distribution deal with Science Biotech for its Fortetropin product in the markets of New Zealand and Australia.
• In June 2020, GenTech Holdings Inc., a rising star in the functional food and high-end premium coffee industries, announced the acquisition of NXTBAR LLC, a well-known natural sports nutrition company.

A list of some of the key suppliers present in the market are:

• Nestlé S.A.
• Red Bull GmbH
• Ajinomoto Co., Inc.
• Keurig Dr. Pepper, Inc.
• Nutrabolt
• GlaxoSmithKline plc.
• Optimum Nutrition, Inc.
• Premier Nutrition Corporation
• Biothrive Sciences
• Nutrabolt
• Now Foods, INC
• Sports Nutrition
• Vitaco Health
• Uelzena Group.

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.