sports nutrition Market

The sports nutrition market size is projected to reach US$ 46.41 billion by 2031 from US$ 24.01 billion in 2023. The market is expected to register a CAGR of 8.6% during 2023-2031.

With the growing demand for sports nutrition products globally, key players are taking various strategic initiatives to differentiate themselves from their competitors. Several manufacturers are launching innovative products. For instance, in March 2024, Garden of Life LLC announced the expansion of its sports supplements product category by launching a new supplement formulated for workout recovery as well as enhancing skin radiance. In April 2023, Buildyourgoals, a sports nutrition company, announced the launch of four additional sports supplements in different flavors, including watermelon, orange, fresh brew coffee, and kiwi. In December 2023, DYMATIZE ENTERPRISES, LLC, a sports nutrition company, announced the expansion of its high-performance ISO100 protein powder product line by partnering with DD IP Holder LLC. With this collaboration, the company launched a new range of protein powders with the flavor and taste of Glazed Donuts from DD IP Holder LLC.

Various manufacturers in the sports nutrition market are engaged in collaborations with athletes to expand their customer base, which is further boosting the growth of the sports nutrition market. For instance, in August 2023, Saquon Barkley, an All-Pro running back for New York's football team, teamed up with SIXSTAR, a sports nutrition company, and Kellogg Co. to launch new products of Six Star 100% Whey Protein Plus in Kellogg's Frosted Flakes and Froot Loops flavors. Also, in August 2023, ahead of the Paris 2024 Olympic Games, VOW Nutrition, a sports nutrition brand, collaborated with Team GB as the Official Nutrition Licensee. Moreover, BioSteel Sports Nutrition Inc. signed a partnership with Sergi?o Dest, a defender for the U.S. Men's National Soccer Team. Such celebrity endorsement plays a vital role in boosting the sales of sports nutrition products.

Several manufacturers are focusing on mergers and acquisitions to expand their product portfolio and strengthen their brand presence in the sports nutrition market. For instance, in May 2024, NUTRIVEND, a sports nutrition company, announced the acquisition of CSN Supplements Ltd. This strategic investment is expected to help the company expand its customer base and product portfolio in the sports nutrition market.

In terms of product type, the market is segmented into supplements, bars, RTD beverages, and others. The supplements segment held a significant sports nutrition market share in 2023. Sports supplements are designed to provide an energy boost, enhance performance, and aid endurance throughout the workout or sports activities of the consumers. These performance-enhancer sports supplements, including powders, gummies, tablets, and capsules, are in high demand among athletes and bodybuilders. There is a rising engagement in physical activities among the population across the globe, followed by increasing participation in sports events, which drives the demand for sports supplements.

A few players operating in the sports nutrition market Glanbia plc; NOW Foods; Garden of Life; PepsiCo Inc.; Quest Nutrition LLC; Abbott Laboratories; Amway Corp; GNC Holdings, LLC; Worldwide Sport Nutritional Supplements; Inc.; and Herbalife Nutrition Ltd. and among others. Players operating in the sports nutrition market focus on providing innovative and healthy products at affordable prices to fulfill customer demand.

The overall sports nutrition market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the sports nutrition market.