Sports nutrition refers to food, beverages, and other guidance related to an athlete’s diet often provided by their trainers, coaches, doctors, and dietitians. The changing lifestyle due to the desire of consumers to follow a healthy lifestyle and exercise is contributing to the rise of the sports nutrition market. The rise of gym and fitness centers, the awareness of benefits of fitness for preventing chronic diseases, coupled with rising adoption of protein and energy bars as healthy complements to food as snacks are driving the Sports Nutrition market. One very prevalent disease, diabetes, can affect several parts of the body and is linked with serious complications, such as heart disease, stroke, blindness, kidney failure, and lower-limb amputation, among other serious conditions. According to the USA CDC’s (Centers for Disease Control) National Diabetes Statistics Report for 2020, 34.2 million people, or 10.5% of the U.S. population, have diabetes. Approximately 26.8 million people, 10.2% of the population, had been diagnosed with diabetes. Around 7.3 million people had undiagnosed diabetes in 2018. The rise in the adoption of sports activities to curb such diseases will contribute to the growth of the sports nutrition market. The perception of sports nutrition as ‘healthy snack’ used by gym-goers and sportspersons only may act as a restraint for its growth. However, the innovations in the ingredients, as well as marketing of sports nutrition, acts as an opportunity for Sports Nutrition Market in subsequent decades. COVID-19 pandemic has also raised awareness for proteins and vitamins in daily diet, which will help in the growth of the market too in 2021-2027.
Global Sports Nutrition Market is valued at approximately USD 10.5 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 10.25% over the forecast period 2021-2027 and is estimated to reach USD 20.79 billion by 2027.
Key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World are analyzed to provide a holistic picture of the Sports Nutrition Market. Due to more awareness for a healthy lifestyle as well as higher per capita income, North America has emerged as a significant region across the world in terms of market share. Whereas, Asia-Pacific is expected to exhibit the highest growth rate for the forecast period 2021-2027 owing to the urbanization and proliferation of fitness centers. Rising disposable income and growing awareness for healthy food will also boost growth in this region.
Major market players included in this report are PEPSICO, ABBOTT, CLIF BAR & COMPANY, SCIENCE IN SPORT, THE HUT.COM LTD, CARDIFF SPORTS NUTRITION LIMITED, IOVATE HEALTH SCIENCES INTERNATIONAL, INC, THE COCA-COLA COMPANY, GLANBIA PLC, and MUSCLEPHARM
The detailed segments and sub-segment of the market are explained below:
By Product Type: Sports Drinks, Sports supplements, Sports Foods
By Distribution Channel: E-commerce, Brick and mortar
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Bizwit Research & Consulting LLP