The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, March 23, 2023 /PRNewswire/ -- As per The Business Research Company's Sports Nutrition Global Market Report 2023, the global sports nutrition market size will grow from $35.9 billion in 2022 to $39.5 billion in 2023 at a compound annual growth rate (CAGR) of about 10%. The sports nutrition market size is then expected to grow to $58.2 billion in 2027 at a CAGR of more than 10%. Going forward, an increasing gym membership, increasing participation in sports and government initiatives will drive the sports nutrition market growth.
The global sports nutrition market is fragmented, with a large number of small players. Glanbia Plc. was the largest competitor with 8% share of the sports nutrition market, followed by PepsiCo Inc., Post Holdings, Inc., Abbott Laboratories, Otsuka Pharmaceutical Co., Ltd., GNC Holdings Inc., The Coca-Cola Company, Nestle SA, Clif Bar & Company and MusclePharm Corporation.
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The sports nutrition industry is experiencing a growing trend towards the use of vegan-based products as more people adopt plant-based diets. With the increasing demand for veganism, various manufacturers in the sports nutrition market are launching plant-based versions of their sports protein bars, powders, and Ready-to-Drink (RTD) drinks. For instance, in January 2023, Osage Food Products, an US-based trusted brand in quality protein, dairy, and custom blend products have launched SolvPro™ Vegan Plant Protein Blends, a new line of optimized plant protein blends that combine different plant proteins and deliver targeted nutritional and functional properties for a wide range of end-use applications. When pea protein isolate and additional masking agents are combined with EverPro® protein isolate, the SolvPro 008 and 009 systems give a complete plant protein with sufficient quantities of all essential amino acids to achieve a PDCAAS of 1.0, which is comparable to whey protein isolates.
In addition to developing vegan-based products, manufacturers in the sports nutrition market are focusing on the development of clean label ingredients, which are natural and minimally processed, to meet consumer demand for transparency and authenticity in their products. Clean label are the food products containing natural, familiar, simple ingredients that are easy to recognize, understand and pronounce, with no artificial ingredients or synthetic chemicals. For example, in April 2020, Ulrick & Short, a UK-based provider of clean label, additive free ingredients to food manufacturers, has developed a clean label ingredient delyteTM 12 aimed at improving indulgence in beverages, while also reducing overall fat and calorie content. Designed for dairy & plant-based beverages such as breakfast drinks, milkshakes, sports nutrition products, and meal replacements, delyteTM 12 provides an indulgent mouthfeel to products by assisting with viscosity & structure.
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The global sports nutrition market is segmented -
- By Type: Protein Powder, ISO Drink Powder, Sports Supplements, RTD Protein Drinks, Sports Drinks, Energy Bars
- By Raw Material: Animal Derived, Plant-Based, Mixed
- By Distribution Channel: Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Stores, Other Distribution Channels
- By End-User: Commercial, Body Builders, Recreational Users, Athletes
As per The Business Research Company's sports nutrition market research, North America was the largest region in the sports nutrition market, accounting for 46.5% of the global market in 2022. It was followed by Asia Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the sports nutrition market will be Asia Pacific and Africa.
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