NEW YORK, Oct. 2, 2023 /PRNewswire/ — The sports supplement market size is expected to grow by USD 2.2 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 8.52% during the forecast period. Increased participation in sports and fitness activities drives the market growth. However, factors such as the presence of counterfeit products may impede market growth. The market is segmented by type (protein and non-protein), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The FREE sample report is available in PDF format
Key Segment Analysis
The market share growth by the protein segment is significant during the forecast period. The protein segment plays a vital role in muscle repair and growth. There is an increasing adoption of protein supplements by several as part of their training regimen. The main advantage of these supplements is that they offer a convenient and easily digestible source of protein, which helps promote muscle protein synthesis and aids in muscle repair. There is a growing focus on health and fitness which has resulted in increased demand for sports supplements, especially protein-based ones, as people seek convenient solutions to support their fitness goals. In addition, there is a significant growth of non-protein supplements containing caffeine, creatine, beta-alanine, and nitric oxide boosters which have the potential to enhance energy, strength, power, focus, and endurance during exercise. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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Geographical Market Analysis
North America accounts for 46% of the growth of the global market during the forecast.
Company Insights
The sports supplement market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including Abbott Laboratories, Amway Corp., Ascendis Health Ltd., Associated British Foods Plc, BPI Sports, Clif Bar and Co., Competitive Edge Labs LLC, Glanbia plc, GlaxoSmithKline Plc, Haleon Plc, Herbalife International of America Inc., Meiji Holdings Co. Ltd., MusclePharm, Nestle SA, NOW Health Group Inc., PacificHealth Labs, Pro Action srl, Universal Nutrition, Vitaphar NV, and Weider Global Nutrition LLC.
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FAQS
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation byType
Market Segmentation by Distribution Channel
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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SOURCE Technavio