As per Persistence Market Research, the global sports nutrition ingredients market will soar between 2020 and 2030. The CAGR expected to be witnessed would be more than 5%.
The growing inclination of consumers towards putting health practices like yoga, gym into practice coupled with consumption of food having health benefits is bolstering the sports nutrition ingredients market and the scenario is expected to continue going forward as well. Protein supplements like whey protein are onto gaining tremendous acceptance amongst the athletes. Moreover, the ones going to gyms are prescribed diet full of meat products, fruits, and vegetables.
It is a known fact that proteins help in optimizing weight, increasing muscle strength and mass, and energizing the body on the whole, and the dietary regimen mentioned above contains proteins by default. So, it could be inferred that sports nutrition ingredients would be more in the form of protein-oriented ones, which will also prompt manufacturers to go for them.
Moreover, the number of people flocking towards health clubs has seen an exponential rise in the past few years. Increase in awareness regarding benefits of good health is driving this influx. As per the “International Health Racquet and Sportsclub Association”, the US alone contains close to 40K health clubs. Plus, The “Physical Activity Council” states that as of the year 2018, almost 64% of the US population with minimum age of 6 years are involved in jogging, running, or high-intensity training.
Also, sports nutrition is no more confined to core sportspersons. Call for healthier lifestyle is pestering people to opt for sports nutrition. These factors are helping in catalysing the sports nutrition ingredients market.
Sports Nutrition Ingredients Market: What’s on the Table?
The e-Commerce channels have facilitated the reach of sports nutrition ingredients across various geographies, especially the prospective economic hubs like India and Brazil. The Ministry of Food Processing (India), in 2017, stated that India witnessed a 50-55% growth in online retail business between 2009 and 2013. Along these lines, Zota Healthcare, in 2016, did launch an e-Commerce portal named “Nutravedic”.
The key players are also seen investing in new products’ launch, so as to bring maximum people under the umbrella of “sports nutrition ingredients”. Vegan products are also being doled out looking through certain consumers’ demand for the same. For instance – InnovoPro Ltd. In the year 2019, did launch vegan chickpea protein powder. Apres, in Nov 2017, had launched a beverage based on plant-based protein for supporting the replenishment of the entire body. In the same year, Momentous did start with its meiden NSG-certified protein powders that included RedShift, and ArcFire. Bodybuilding.com, in 2018, came up with its privately-labelled protein crunch bars in two flavors – cream and cookies and chocolate peanut butter.
At the same time, banned substances are also being checked for. For instance – NOW Sports, in 2018, entered into collaboration with “Informed Sports” to check if banned substances are present therein.
Though the outbreak of Covid-19 has forced manufacturers to go slow on manufacturing (due to partial/total lockdown inflicted across the globe), the demand for sports nutrition ingredients hasn’t ceased, especially after the WHO stating upfront that healthier habits ought to combat the further spread of Covid-19. Amazon’s “OWN PWR” (comprising 11 products – 8 general sports nutrition products, 3 elite pre-workout formulations) has witnessed an upsurge in demand since the last few months.
North America holds more than 60% of market share due to the reasons mentioned above, followed by Europe and Asia-Pacific. Besides, Tokyo Olympics are coming up in the year 2021. This would also drive the demand for sports nutrition ingredients going forward.
The prominent players in sports nutrition ingredients market include MusclePharm, Stokely-Van Comp, Inc., Hormel Foods Corporation, and Glanbia Plc. SternLife, in Oct 2018, came up with a new-fangled range of paleo bars, energy bars, and sports bars. A year before, CytoSport, Inc. aalso launched Muscle Milk protein bars.