DUBLIN--(BUSINESS WIRE)--The "Global Sports Nutrition Market Research Report: Forecast (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
The global sports nutrition market is expected to grow at a CAGR of around 9% during (2021-26).
The market growth is primarily due to rising awareness regarding physical fitness among the consumers coupled with increasing disposable income that aids the purchasing rate of nutrition products. The surge in the number of gyms and fitness centers endorsing sports nutrition products has boosted the growth of the sports nutrition market.
In addition, mounting demand for various kinds of protein bars, energy drinks, and dietary supplements among the consumers to enhance their physical health is one of the major factors driving the growth of the Global Sports Nutrition Market.
Market Segmentation
Supplement Powder Accounted for the Largest Market Share
Based on product type, the market divides into Protein Powder, Iso Drink Powder, Supplement Powder, Protein Bars, Carbohydrate/Energy Bars, Carbohydrate Drinks, Tablets/Capsules, RTD Protein Drinks, Iso Drinks, and Other Supplements. The supplement powder segment acquired the largest share in the Global Sports Nutrition Market in 2019. Reason being, the burgeoning awareness regarding physical fitness among consumers entwined with the easy commercial availability of supplement powder. An increase in the number of market players, launches of new products, and increasing product portfolio based on taste and preferences indicate the growing demand for sports supplements.
Plant-Based Nutrition Acquired the Highest Market Share
Based on raw material, the market segments into Animal-derived, Plant-based and Mixed segments. In 2019, the plant-based segment dominated the Global Sports Nutrition Market due to the rise in the percentage of the vegan population across the world. Moreover, several consumers are shifting towards plant-based nutrition products as these products contain high fiber & essential nutrition that have less fat than animal-derived nutrition products. Furthermore, the increase in the spread of bird flu & other animal-derived diseases has resulted in consumers shifting towards the consumption of plant-based sports nutrition.
Market Drivers
Lifestyle Changes bolstering the Market Growth
There is an increase in inclination towards leading a healthy lifestyle owing to urbanization & lifestyle changes. Thus, this fuels the participation of more consumers in sports clubs and gyms. Furthermore, the continuous need for adding adequate nutritional content to daily diet due to rising health concerns also contributes to the lucrative growth of the global sports nutrition market.
Competitive Landscape
The major leading players in the global Sports Nutrition market are Pepsi Co, Inc., GlaxoSmithKline PLC, The Coca-Cola Company, Abbott Laboratories Inc, Reckitt Benckiser Group plc, Otsuka Holdings Co, Ltd., Clif Bar & Company, Glanbia Plc., Optimum Nutrition, Hormel Foods Corporation, Post Holdings, Inc., GNC Holdings Inc., YAKULT, Multipower, MusclePharm Corporation.
Key Questions Answered in the Market Research Report:
- What are the primary overall market statistics or estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Global Sports Nutrition Market?
- What are the region-wise industry size, growth drivers, and challenges?
- What are the key innovations, opportunities, current & future trends, and regulations in the Global Sports Nutrition Market?
- Who are the key competitors, their key strengths and weaknesses, and how do they perform in Global Sports Nutrition Market based on a competitive benchmarking matrix?
- What are the key results derived from the market surveys conducted during the Global Sports Nutrition Market study?
For more information about this report visit https://www.researchandmarkets.com/r/q5qiyb
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