The global sports supplement market size is anticipated to
reach USD 43.3 billion by 2025, according to a new report by Grand View
Research, Inc., expanding at a CAGR of 11.2% over the forecast period.
Increasing number of health clubs and fitness centers and urbanization are the
key driving factors in the market. Some of the important trends observed in the
market are growing demand for caffeine-free products and increasing investment
by the companies in product development.
Demand for supplements has increased globally
due to growing health concerns. Moreover, the need for sports supplements has
been increasing from the past few years. Earlier athletics and sports
activities were limited to teenage and young people. However, from the last few
years, it has been observed that participation of children in such activities
has been increasing. Parents are also supporting their children to participate
in sports events to promote their overall development, thereby encouraging the
growth of the market.
Protein powder is the largest product segment
in the market and expected to generate a revenue of around USD 29.68 billion by
2025. Protein-based powders are one of the most common sports supplements with
1,174 brand variants and a total of 411 brands captured by Lumina
Intelligence. This product category also attracted the most customer
reviews, with a global total of 1.62 million and an average of 940 reviews per
product.
Protein bar is expected to witness rapid
growth over the forecast period, registering a CAGR of 10.3%. Shifting consumer
inclination towards fruit and nut bars is expected to increase the product
demand in the foreseeable future.Common supplements to increase an athlete's
energy are Guarana, Vitamin, Asian ginseng, B12, and Caffeine. Caffeine, one of
the favorite energy drinks, can be found in different forms such as tablets or
capsules, pills, and in common beverages like tea and coffee.
The online distribution channel is expected to
witness significant growth in the market. In 2018, North America was the
leading revenue contributor in the market, accounting for 34.8% share of the
overall revenue. Increasing number of health and fitness centers and gyms,
growing health awareness, and changing consumer preferences for protein
products are some of the primary reasons for the market growth in the region.
Asia Pacific is anticipated to emerge as the
fastest growing regional market and exhibit a CAGR of 12.4% during the forecast
period. This is attributed to growing health and fitness awareness, rising
disposable income, and increasing number of global retailers in the region.
Some of the key players operating in the
market are Glanbia Plc.; Plethico Pharmaceuticals Limited; GNC Holdings, Inc.;
Universal Nutritio; and NBTY. Other key players in the market are Scitec
Nutrition, Creative Edge Nutrition, Enervit S.p.A., Herbalife Ltd., and
MaxiNutrition.
For full research report on Sports
Supplement Market visit here: https://www.grandviewresearch.com/industry-analysis/sports-supplement-market
Further key findings from the study suggest:
- In terms of revenue, the powder product
segment dominated the global market in 2018 and is projected to expand at
a CAGR of 11.7% over the forecast period
- North America dominated the global market in
2018 and constituted more than 34.0% share of the overall revenue. This
trend is projected to resume over the next few years
- The industry is highly competitive due to the
presence of key players including Glanbia Plc.; Plethico Pharmaceuticals
Limited; GNC Holdings, Inc.; Universal Nutrition; and NBTY
- Various manufacturers are concentrating on new
product launches, capacity expansion, and technological innovation to
estimate existing and future demand patterns from upcoming product
segments.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/sports-supplement-market/request/rs1
Grand
View Research has segmented the global sports supplement market on the basis of
source, product, distribution channel, and region:
Sports
SupplementSource Outlook (Revenue, USD Million, 2015 - 2025)
- Animal Based
- Plant Based
Sports
SupplementProduct Outlook (Revenue, USD Million, 2015 - 2025)
- Capsule/Tablets
- Powder
- Liquid
- Bar
Sports
SupplementDistribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Offline
- Online
Sports
SupplementRegional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- Germany
- Asia Pacific
- India
- China
- Japan
- Central & South
America
- Brazil
- Middle East &
Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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