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Global Sports Supplement Market to Grow at a CAGR of 8.6% in the Forecast Period of 2021-2026, Aided by the Growing Fitness Trend

According to a new report by EMR titled, ‘Global Sports Supplement Market Report and Forecast 2021-2026’, the global sports supplement market attained a value of about USD 17.4 billion in 2020. The industry is further expected to grow at a CAGR of 8.6% in the forecast period of 2021-2026.

The global sports supplement market is primarily driven by the growing health-consciousness and the rising trend of fitness among the consumers. The consumers are now becoming aware about the importance of physical fitness and the ill-effects of consuming junk food owing to their hectic lifestyles. They are now increasingly shifting towards healthier lifestyles and diets. As the demand for physical fitness and healthy food rises, the demand for sports supplement also grows simultaneously. The nutritious content of food these days have fallen significantly owing to adulteration during the making of the products. This lack of nutrition in daily diets of the consumers is leading to issues like anxiety, weakness, depression, and laziness, among others. In order to bridge the nutritional gap, people are now consuming these supplements, which are enriched with different vital nutrients.

With the rising demand for nutritional supplements, the market for sports supplements is also on a rise. Various key players are coming up with different strategies to increase their sales. In February 2019, Hormel Foods Corp (NYSE: HRL), one of the leading nutrition supplement company, announced the sale of its CytoSport business to PepsiCo, Inc. (NASDAQ: PEP), another leading sports nutrition company. PepsiCo is a world-known sports nutrition company and has assisted and partnered Hormel Foods Corp in their brands Cytosport and Muscle Milk® brand in the past, thus they will be able to further boost the growth of these brands in the coming years. This agreement has led to the growth of these two brands with various product additions and innovations and will most probably propel the market growth as well.

Market Analysis by Nature, Type, Distribution Channels, and Regions:

  • The nature of the product can be divided into organic and conventional.
  • The type of the supplement can be divided into protein and non-protein. Protein can be further divided into powder, bar, and ready to drink, among others. Non protein can be further grouped into amino acids, creatine, and beta alanine and l- carnitine, among others.
  • Based on distribution channels, the market is divided into hypermarkets and supermarkets, pharmacy and drug stores, specialty stores, online, among others.
  • The regional markets for sports supplement are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market is primarily being driven by the rising awareness about the importance of fitness among the consumers.
  • A significant rise in the number of people opting for sports career is also boosting the growth of the market.
  • The shift of the consumers to healthier lifestyles which comprises of both physical fitness and a balanced diet is aiding the growth of the industry.
  • Increase in the national and international sporting activities is also likely to propel the growth of the industry.
  • Factors like growing population, changing lifestyles, rising disposable incomes, and the increased availability of gyms, sports arena, and sports clubs have also been supporting the growth of the industry.

Key Offerings of the report:

  • The EMR report gives an overview of the global sports supplement market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecasted (2021-2026) markets for the nature, type, distribution channels, and major regions of sports supplement. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global sports supplement market are Hormel Foods, LLC, General Nutrition Centers, Inc., Post Holdings Inc., and Cardiff Sports Nutrition Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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