03-May-2021 | Zion Market Research
Some of key players in sports nutrition market are The Coca-Cola Company, Abbott Nutrition Inc., PepsiCo Inc., Glanbia Plc, Reckitt Benckiser Group plc, Yakult Honsha Co Ltd., Post Holdings, Inc., GNC Holdings, Clif Bar & Company, and Otsuka Pharmaceuticals Co., Ltd., among others. These players are set to bolster the development of global sports nutrition market.
According to analysts at Zion Market Research, the global sports nutrition market accounted for USD 12.34 Billion in 2020 and is expected to reach USD 21.98 Billion by 2028, growing at a CAGR of more than 8.4% from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Sports Nutrition Market By Type (Drinks, Supplement, and Food), By Distribution Channel (Large Retail & Mass Merchandisers, Small Retail, Drug & Specialty Stores, Online, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
Consumer Preference Towards Sports Nutrition Platforms To Spur Growth
The sports nutrition market is expected to witness significant growth within the forecast period on account of increasing demand from recently emerging lifestyle and recreational users’ group. In addition, increasing health awareness coupled with increasing number of health clubs and fitness centres is also expected to boost this market within the forecast period. Apart from this, rapid urbanization, increasing disposable income augmented with increasingly purchasing sports nutrition products as healthy snacks as a part of diet are also expected to boost the growth in sports nutrition market. The high number of cheap counterfeit products affects sales of reputed companies and therefore, availability of these products is expected to restrict the growth of sports nutrition market. Expansion of distribution channel is also expected to be an opportunity for growth in this market in coming years.
Presence of Big Players in The Region Support North America Dominance
North America is expected to account for the largest market for sports nutrition. It has accounted for more than 35% market share for sports nutrition products in 2020. The growth in this region is majorly supported by benefits from high incomes, world-class fitness and athletics infrastructure. Europe sports nutrition market to represent a major market for sports nutrition products, led by the U.K. fuel by the increased number of consumers opting for healthy lifestyles.
Asia-Pacific is the fastest growing market for sports nutrition products within the forecast period fuelled by an increase in disposable incomes coupled with rapidly changing lifestyles. Japan is expected to dominate this region in sports nutrition market. China is expected to gain the second largest market share followed by the Australia due to a higher percentage of the obese population. India is expected to witness the notable growth in coming years fuelled by the increasing adoption of sports nutrition products amongst lifestyle & recreational users. Latin America and Rest of the regions are expected to witness a healthy growth in this market within the forecast period.
Browse the full “Sports Nutrition Market By Type (Drinks, Supplement, And Food), By Distribution Channel (Large Retail & Mass Merchandisers, Small Retail, Drug & Specialty Stores, Online, And Others): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/sports-nutrition-market
The global sports nutrition market is segmented as follows:
By Distribution Channel
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