The sudden rise of the COVID-19 pandemic has created enormous impact on the overall economic growth of several countries worldwide. However, the global sports nutrition and supplements sector is anticipated to observe significant growth during this crisis. The outbreak of COVID-19 has increased the awareness as well as need among people to manage healthy diet and lifestyle. As per doctors, following a healthy lifestyle and building a strong immune system can help people fight against this life-threatening disease. Some types of nutrients and supplements help in dynamic activation of body cells and helps in improving the immune system. All these factors are considerably boosting the demand for sports nutrition and supplements products all over the world. Furthermore, several government bodies are introducing numerous schemes to support businesses in sustaining their companies during this turmoil. For instance, the Italian government has declared to extent the deadlines for taxes in the hospitality, tourism, sports, and other sectors. Moreover, majority of the top players are concentrating on new product developments to obtain a strong presence during this pandemic condition. In the course of this catastrophic condition, we are delivering our clients in understanding the influence of COVID-19 on the global sports nutrition and supplements industry.
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- Technological Impact
- Social Impact
- Investment Opportunity Analysis
- Pre- & Post-COVID Market Scenario
- Infrastructure Analysis
- Supply Side & Demand Side Impact
According to a new report published by Research Dive, the global sports nutrition and supplements market is expected to garner $35,350 million by 2026, and grow at a CAGR of 12.9% from 2019 to 2026. The report offers an executive summary of the market explaining all factors that are likely to boost the growth rate of this industry. This report is a valuable source of guidance for companies and individuals involved in the global sports nutrition and supplements market.
Factors Affecting the Market Growth
As per the report, increasing awareness for adopting a healthy lifestyle is majorly boosting the growth of the global sports nutrition and supplements market. However, the availability of forged products is considerably hindering the growth of the market.
Sports Supplement Estimated to Grab a Major Market Share
Based on type, the report segments the global market into sports drinks, sports supplements, and sports foods sports supplements. Among these, the sports supplements segment is estimated to dominate the market by showing continuous growth throughout the forecast period. This is mainly due to growing availability of sports nutritional products and rising awareness and need among athletes & bodybuilders for supplements. On the other hand, sports drinks segment is expected to grow at a remarkable growth rate of 13.6% throughout the expected period.
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E-commerce distribution channel Expected to be rewarding during the Estimated Period
Based on distribution channel, the report segments the global market into E-Commerce and Bricks & Mortar. Among this, the e-commerce segment is estimated to grow with a CAGR 14.2% by 2026 and unlock new opportunities for the growth of the global market during the forecast period. This growth is mainly owing to the growing online suppliers because of the rise in use internet all over the world. On the other, the bricks & mortar segment seized the major share of the global sports nutrition and supplements market in 2018 and is expected to uphold its lead position in the global market during the forecast period.
Regional Outlook of the Market
Regionally, the report evaluates the global sports nutrition and supplements market across North America, Europe, Asia-Pacific, and LAMEA. Among these, Asia-pacific market is expected to observe a substantial growth by growing at a growth rate of 13.7% throughout the projected timeframe. This is mainly due to increase in the number for customers for sports foods and rise in number of gym & fitness centers all over the world. On the other hand, the North American market is projected to garner $13,433.0 million by 2026. This is due to rising awareness about fitness among the people and rise of big manufacturers in this region.
Leading Players of the Market
Some of the leading market players in the global are The Coca-Cola Company, Glanbia plc, Abbott, Yakult Honsha Co., Ltd, General Nutrition Centers, Inc., MUSCLEPHARM, PepsiCo Inc., Reckitt Benckiser Group plc, POST HOLDINGS, INC., Otsuka Holdings Co., Ltd, Clif Bar & Company, and Hormel Foods Corporation. These market players are undertaking activities including collaborations & partnerships, mergers and acquisitions, geographical expansions, and new product development to obtain a top position in the global industry.
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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