Sports Supplements Market to Reach Valuation of US$ 11.6 Bn by 2028: Industry Probe

March 26, 2020, Domain: Consumer Goods & Retail

According to a new market report published by Industry Probe (www.industryprobe.com) titled ‘Sports Supplements Market (Form: Powder [Below 250 gm, 250- 500 gm, 1000 gm and above], Capsules [Pack of 60, Pack of 120, Pack of 250, others], Soft gels [Pack of 60, Pack of 120, Pack of 250, others], Tablets [Pack of 60, Pack of 120, Pack of 250, Others], Liquid, Energy Bar, Others [Tinctures, Gummies, etc.]; Category: Sports Drink, Protein Supplements, Creatine, Performance-enhancing Supplements; Type: Organic/Natural, Synthetic; End User: Men, Women; and Distribution Channel: Online [Company Websites, Ecommerce Websites] and Offline [Hypermarkets/Submarkets, Specialty Stores, Brand Stores, and Multi-brand Stores]) – Global Industry Dynamics, Trends, and Forecast, 2021–2028,’ the global sports supplements market is expected to reach US$ 11.6 Bn by 2028 and expand at a CAGR of 6.2% from 2020 to 2028

Overview

  • The global sports supplements market was valued at US$ 6,789.0 Mn in 2019 and is expected to expand at a CAGR of 6.2% from 2020 to 2028. A rise in participation in sports, and other fitness activities and increased healthcare spending are anticipated to boost the global market for sports supplements in the near future.

  • North America held a major share of the global sports supplements market in 2019, followed by Europe, and the Asia Pacific

  • The Middle East & Africa and South America are expected to be a key upcoming market for sports supplements during the forecast period. The increasing rate of participation in several sports and other fitness activities is projected to drive the sports supplements market in the region.

Driving Factors

  • Sports supplements are primarily consumed by athletes. However, change in lifestyle has led to increased adoption of sports supplements by lifestyle users. Hence, growing demand is significantly driving the growth of the sports supplements market.

  • Hectic lifestyles, and the constant pressures of juggling between job, family, and social life are unavoidable in recent times. Consumers want to eat healthily and get plenty of exercises but are hindered by their hectic lifestyles. These factors are projected to drive the sports supplements market.

Key Challenges

  • Side effects of sports supplements vary with the type of products. These products can cause rapid heartbeat, insomnia, nervousness, irritability, among other potentially serious health problems. Several ingredients have an adverse effect on human health. These factors are expected to restrain market growth.

Market Preference

  • In terms of form, capsules are witnessing increased demand. They can be taken apart, giving consumers the option of mixing the powdered contents with a beverage or food, and are easy to swallow. Based on the category, the Creatine segment held a major share of the global market in 2019.

  • In terms of type, the synthetic segment accounts for the major share in the global sports supplement market. Based on end-user, the men segment is a major contributor to the growth of the global sports supplements market

  • In terms of distribution channel, offline is expected to be the most attractive segment during the forecast period, due to the preference of consumers for offline shopping

  • In terms of region, the North American region accounts for a major share of the global sports supplements market, followed by Europe, and the Asia Pacific

  • Consumers in North America are increasingly taking part in several sports, and sporting events. This is leading to the growing demand for sports supplements in the North American market.

Competition Landscape

  • The sports supplements market is dominated by several players that are focused on the development of new products to cater to the rising demand

  • The report includes the below-mentioned pointers of major players operating in the global Sports Supplements market:

    • Company Overview

    • Product Profiling

    • Market Share Analysis (2018)

    • Product Innovation

    • Business Strategies/Recent Developments

      • Technological advancements

      • Key Mergers & acquisitions

      • Expansion strategies

    • Company Financials

Major Players Covered Under the Scope:

  • Abbott Laboratories

  • GNC Holdings, Inc.

  • Post Holdings, Inc.

  • Evlution Nutrition

  • Glanbia Plc

  • Herbalife International, Inc.

  • The Coca-Cola Company

  • Natural Alternatives International, Inc.

  • The Gatorade Company, Inc. (PepsiCo, Inc.).

  • Reliv International, Inc.

Market Segmentation/Research Scope

Sport Supplement Market – Global Industry Dynamics, Trends, and Forecast, 2021–2028

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