The global sports nutrition market has boomed over the past few years and the trend looks set to continue for the foreseeable future.
North America continues to be the most lucrative market for sports nutrition, accounting for more than 40 percent of the $40 billion market size.
With analysts predicting the sector will expand at a compound annual growth rate (CAGR) of 8.5% from 2022 to 2030, the gravy train is showing no signs of slowing down.
Read on as we offer some key market insights that are likely to drive the growth of the sports nutrition industry in the future.
US & Europe Leading the Charge
As we mentioned at the outset, North America currently dominates the global sports nutrition market, accounting for a revenue share of around 45% in 2021.
The experts at PreWorkout.org have forecast that increased demand from the United States for healthy energy drinks will promote further growth over the coming years.
Increased public awareness regarding health and wellbeing and increased marketing activity by sports nutrition brands will also drive revenues upwards.
Europe is also viewed as a region ripe for expansion, with analysts predicting the market will increase at a CAGR of 7.7% during the forecast period.
Rising initiatives undertaken by the public and increased sports participation across the continent are fuelling market growth.
Consumer adoption in the United Kingdom, France and Germany is tipped to drive sports nutrition revenues over the next few years.
Several Asian markets are also considered to have plenty of potential, with increased understanding of health and fitness expected to power the market forward.
Fitness Boom Boosts Sports Nutrition Sales
One of the biggest contributory factors impacting the consumption of sports nutrition consumption is the rise in the number of people who have adopted active lifestyles.
Consumers are using these products to boost energy to facilitate better performance when they undertake training and other day-to day activities.
The support of weight management is another key element, particularly as the prevalence of obesity is increasing in several key markets.
For example, according to an article published in the New England Journal of Medicine, approximately 50% of the US population is estimated to have obesity by 2030.
Around the same percentage of European Union citizens are reportedly overweight, further highlighting how the obesity rate will drive demand for sports nutrition products.
With fitness organisations using aggressive marketing tactics to target obese people, it naturally follows that sports nutrition usage will increase.
Governments will also play their part in steering consumers towards healthier lifestyles to ease the burden on overstretched healthcare systems.
Research & New Product Development
It is fair to say the sports nutrition industry has previously suffered from an image problem, particularly with regards to the claims made about their product ranges.
Sketchy manufacturing processes and questionable ingredient formulations have made many people wary about the effectiveness of sports nutrition products.
Most of the leading brands have sought to address this by working with academic institutions to test the effectiveness of their creations.
This has sparked increased availability of a wider range of products in different formats that reportedly have enhanced nutritional value.
For instance, many leading sports nutrition brands are using natural ingredients and low sugar content as a way to entice people into buying their products.
Widening the range of flavours and engaging in collaborations with emerging sectors such as eSports is also increasing product adoption and driving sales.
Other link-ups with professional sports clubs and governing bodies is also forecast to power market growth in the sports nutrition sector.
Digital Communities & Social Connectivity
Word of mouth marketing has long been viewed as a powerful way to influence future sales and is likely to have a major impact on sports nutrition in the future.
According to Forbes, one of the main things consumers trust above everything else are recommendations from people in their social circle.
Taking that a step further, digital communities on social media platforms have the power to drive significant growth in the sports nutrition industry over the next few years.
Social connectivity makes it easy for consumers to do free marketing on behalf of the brands they believe add value to their own lives.
By engaging effectively with their existing customers, sports nutrition brands can market their products to a much wider audience without too much effort.
Product giveaways and competitions are amongst numerous ways sports nutrition brands can tap into digital communities and social connectivity.
Digital technology has made word of mouth marketing much easier to achieve and it will unquestionably have a major impact on the sports nutrition market size moving forward.
The Final Word
While the sports nutrition industry still has obstacles to overcome, the elements we have highlighted suggest the future is bright for the sector.
Increased awareness of the benefits of living a healthy lifestyle and improvements in research into the products will be key factors in market growth.
Given how far the industry has progressed in recent times, it would be no surprise to see the forecast CAGR smashed out of the ballpark by the time 2030 comes around.
