The sports nutrition market is estimated to be valued at US$ 46.83 Bn or Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Sports nutrition products include sports drinks, supplements, and functional foods which provide extra calories and nutrients thereby helping athletes perform physically intense activities. Sports drinks help enhance performance and accelerate recovery. Supplements including proteins, vitamins, minerals, and herbal extracts are consumed to gain strength and build muscle. Functional foods such as fortified bars, cereals, and snacks also provide nutrition to meet the demands of exercise and sports activities.

Market Dynamics:
The increasing participation of consumers in sports and recreational activities in driving the growth of the market. According to surveys, more than 50% of the global population participates in some form of physical activity on a regular basis which is increasing the demand for specialized nutrition products. Additionally, the changing lifestyle and rising health awareness are prompting consumers to opt for nutritional diet and balanced eating. The increasing digitization and availability of health and fitness apps have further encouraged people to stay physically fit and maintain active lifestyle which is propelling the sales of sports nutrition products. The growing demand for protein supplements by gym-goers and body builders to build muscles is another factor fueling the market growth.

SWOT Analysis:
Strength:
Growing consumer awareness about the nutritional and health benefits of sports nutrition products is driving the market growth. Sports nutrition products help in enhancing physical performance, muscle building, weight management, and recovery.
Increasing participation in sports and fitness activities is propelling the demand for high-quality sports nutrition products. Sports nutrition products such as protein powders, sports drinks, and supplements are essential for athletes and sports enthusiasts to perform optimally.
Educating consumers about proper nutrient intake through sports events and marketing campaigns is a major strength.

Weakness:
High prices of premium sports nutrition products limit their sales in price-sensitive regions. Developing economies have lower per capita consumer spending on such premium wellness products.
Side effects associated with excessive consumption of certain sports nutrition supplements deter some consumers.

Opportunity:
Emergence of e-commerce is allowing easy access to a wide range of products and doorstep delivery. This is positively influencing the adoption of sports nutrition supplements through online sales channels.
Growing demand for plant-based vegan protein powders and sports nutrition products present an opportunity for manufacturers.

Threats:
Stringent regulations associated with new product launches and misleading claims may restrict revenue growth opportunities.

Intense competition among existing participants may lead to pricing pressures.

Key Takeaways:

The global Sports Nutrition Market Share  is expected to witness high growth, exhibiting CAGR of 8.2% over the forecast period, due to increasing health consciousness and awareness about fitness and wellness.

Regional analysis:
North America dominates the global sports nutrition market, accounting for around 35% share of the total market revenues in 2023. Rapid adoption of healthy lifestyles and rising number of gym memberships and sports tournaments are augmenting the demand. Asia Pacific exhibits the fastest growth attributed to growing middle-class population, increasing investments in sports, and fitness initiatives by regional governments.

Key players:

Key players operating in the Sports Nutrition market are Maxinutrition, Glanbia, PepsiCo, GNC Holdings, Clif Bar & Company, The Coca-Cola Company, and Universal Nutrition. PepsiCo leads the global sports nutrition beverages market owing to its iconic Gatorade brand. Glanbia commands a major share of the global protein powder segment through its Optimum Nutrition brand. The market is characterized by mergers and acquisitions as companies pursue geographic and product segment expansions.

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