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Report Overview
The global sports supplements market reached a value of nearly USD 22.28 Billion in 2023. The market is assessed to grow at a CAGR of 8.60% during the forecast period of 2024-2032 to attain a value of around USD 46.81 Billion by 2032. The market growth can be attributed to the increasing interest in veganism, the rising health-consciousness, innovative product launches, the rising trend of personalised nutrition, and the development of innovative formats.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- There is a rising consumption of sports supplements among not only traditional athletes but also wellness and fitness enthusiasts. According to Innova, 31% of global functional nutrition consumers surged their consumption of sports nutrition products in 2023, while 60% maintained their consumption. This is expected to prompt sports supplement companies to develop innovative formulas, delivery methods, and flavours to meet the evolving needs of customers.
- In 2022, 1 in 8 people in the world were obese. Hence, growing concerns regarding obesity and weight management are boosting the interest towards sports supplements that promote fat loss, appetite control, and metabolism. Moreover, obesity can lead to various health issues, including cardiovascular disease, diabetes, and joint problems, hence the growing awareness regarding these risks is expected to drive the development of sports supplements that focus on prevention.
- With an increasing number of customers embracing sports supplements, there is a growing interest in personalised nutrition. Brands are developing customised solutions based on specific needs of individuals, such as health conditions, fitness goals, or age groups. For instance, Persona Nutrition formulates a personalised supplement plan including minerals, probiotics, vitamins, and protein powders to meet the specific needs of an individual.
Competitive Landscape
Key sports supplements market players are expanding their product portfolio and introducing new formulations to cater to the surging demand for customisation and variety and targeting specific customer bases. They are also prioritising clean-label formulations that are free from artificial additives, preservatives, and fillings.
Key Industry Players
Hormel Foods, LLC
Hormel Foods, LLC, headquartered in Minnesota, United States, is a prominent food company recognised for manufacturing a wide range of shelf-stable, meat-based, and refrigerated food products. Founded in 1891, some of its most popular brands are Jennie-O Turkey, Spam, Hormel Chili, and Skippy, among others. With the growing preference for nutritious and cleaner eating options, the company has forayed into the dietary supplements and sports nutrition segments.
General Nutrition Centers, Inc.
General Nutrition Centers, Inc., established in 1935, is a leading distributor and retailer of health and wellness products. Headquartered in Pennsylvania, United States, the company is recognised for its expansive product offerings in areas like minerals, vitamins, weight management, herbal supplements, and sports nutrition.
Post Holdings Inc.
Post Holdings Inc., founded in 1895, is a diversified consumer packaging goods (CPG) company based in Missouri, United States. The company offers its products and services across different sectors such as protein-based products, cereals, nutrition, snacks, and convenience foods.
Cardiff Sports Nutrition Limited
Cardiff Sports Nutrition Limited, headquartered in Cardiff, United Kingdom, is a company that is engaged in the development, manufacturing, and distribution of sports nutrition products. The company offers performance-oriented and high-quality supplements designed to support fitness enthusiasts, athletes, and individuals pursuing active lifestyles.
Sports Supplements Market Report Snapshots
Sports Supplements Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 22.28 Billion.
The sports supplements market is assessed to grow at a CAGR of 8.60% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 46.81 Billion by 2032.
The major market drivers include rising population, growing urbanisation, rising disposable incomes of the consumers, increasing availability of health clubs and gyms, and the changing lifestyles of the consumers.
The rising number of consumers choosing sports as a career and the increasing awareness of fitness along with the growing adoption of balanced diets are the important trends observed in the market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading nature types in the market are organic and conventional.
The major types of sports supplements in the market are protein and non-protein.
The significant distribution channels in the market are hypermarkets and supermarkets, pharmacy and drug stores, specialty stores, and online, among others.
The key players in the global market for sports supplements are Hormel Foods, LLC, General Nutrition Centers, Inc., Post Holdings Inc., and Cardiff Sports Nutrition Limited, among others.
High competition leading to price wars, dependence on marketing and endorsements, and stringent regulations and compliance requirements in different regions will hamper the market growth.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124