The global sports supplements market to witness steady growth over the forecast period owing to increased usage of fortification product, globally to attain a better functioning body and cure lifestyle-related diseases. Rigorous marketing campaigns by manufacturers and internet of things have put sports supplements products into the mainstream. This is expected to drive the growth of the sports supplements products over the forecast period on a global scale.
Revenue generated from sports supplements market is estimated to be valued at US$ 9,555.4 Mn by the end of 2017 and is expected to increase at a CAGR of 8.2% over the forecast period. Global Sports Supplements market is expected to be valued at US$ 17,963.7 Mn by the end of 2025.
Drivers & Restraints
Consumers are embracing practices such as gym, yoga, and healthy food consumption as self-medication and in order to lead a healthy lifestyle. This has led to an increase in demand for health-related products such as organic food and dietary and sports supplements. Increased usage of self-analysis kits and self-diagnosis for deficiency has increased demand for sports supplements in developed regions.
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Establishments like gym, fitness clubs, yoga centers and other facilities endorsing sports nutrition products are anticipated to contribute hugely to the increment of demand of sports supplement and other related products over the forecast period. Such partnership with establishments increases sales point for the products and narrow down the targeted consumer for the manufacturers and distributors.
The higher occurrence of sedentary diseases and increases the risk of such diseases in urban regions is expected to drive the consumer to adopt a more supplement based lifestyle to curve out the issues. This, in turn, is expected to fuel the demand for the sports supplement over the forecast period.
Fortified foods and beverages containing an equivalent amount of nutrients and minerals per serving against sports supplements are expected to create restraint for the sports supplement market over the forecast period as the fortified food foods are easy to adapt to daily lifestyle than supplements.
Protein products have witnessed increased consumption by sportsmen and other individuals
The protein products segment in the product type category is estimated to be the largest and highly lucrative segment. The consumption of protein products in sports is consumed for nutrition and energy, and the consumption rate has been observed to rise in the coming years. Since past several years, protein products have been a favorite nourishment source for players, sportsmen and common individuals. In 2017, the protein products segment was valued at about US$ and is estimated to reach a valuation of more than US$ . The protein products segment is projected to grow at a CAGR of throughout the period of assessment.
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Protein powders to fortify the demand for protein products in the coming years
Protein products segment is further categorized into powder, bar and ready-to-drink sub segments. The powder sub segment in this category is expected to largely contribute the growth in valuation of the parent segment. This sub segment is projected to grow at a significant rate during the forecast period. Also, contributing the growth of the protein products segment is the bar sub segment, that is projected to grow at a higher rate to register a CAGR of 8.6% throughout the period of assessment.