According to Future Market Insights, the sports nutrition market will follow an impressive growth trajectory, expanding at nearly 10% from 2020-2030.
Increasing sporting activities by consumers to remain physically fit has led to a proliferation of fitness centers, health clubs, and online fitness classes, thereby opening up the market for sports nutrition products. These organizations market health supplements, energy drinks, and nutrition bars to attract memberships and generating revenue pools.
Both the millennials and geriatrics are signing up for these memberships. Rising incidences of chronic conditions such as obesity and joint pain are attracting both segments to follow a regular health and fitness regime, enabling them to remain healthy and active. Online classes have gained massive ground due to COVID-19.
“Increasing health and wellness trends is driving food fortification initiatives, thereby upscaling the market for sports nutrition products,” infers an FMI analyst.
Key Takeaways from FMI’s Sports Nutrition Market Report
- Global sports nutrition market will reach US$ 64 Bn by 2030-end
- Plant-derived ingredients find accelerated usage in manufacturing sports nutrition products in the B2B sector
- Demand for organic products will surge in the upcoming forecast period
- Surging e-commerce sales to boost online marketing of sports nutrition products
- Consumer taste preferences transitioning from conventional chocolate and regular flavors towards fruit ones
- Ready-to-drink beverages are highly popular among the millennials while tablets and capsules are the preferred mode of supplements for the elderly
- North America will retain market hegemony during the forecast period
Sports Nutrition Market- Key Trends
- Aggressive digital marketing and strategic sponsorships critical to ensuring the success of sports nutrition market players
- Higher demand for clean label formulations are spurring manufacturers to include sustainable raw ingredients in their products
- COVID-19 has induced a temporary stagnation in market expansion, due to stalling production in the wake of nationwide lockdowns. However, online sales are spurring companies to accelerate their production
Sports Nutrition Market- Region-wise Analysis
North America will capture nearly half of the global sports nutrition market attributed to the rise in physical fitness activities
Europe to supersede North America in terms of B2B operations, particularly in terms of raw ingredients used
Collectively, Latin America & East Asia will account for nearly 2/5th of the B2B sports nutrition market
South Asia will perform quite well in the B2C domain, attributed to the presence of a large number of buyers
For information on the Research Approach used in the Report, Request Methodology@ https://www.futuremarketinsights.com/askus/rep-gb-12060