Sports Supplement Market Analysis Report By Product, By Source, By Distribution Channel And Segment Forecasts From 2019 To 2025

Industry Insights

The global sports supplement market size was worth USD 20.6 Billion, in 2018. The market is estimated to grow with a CAGR of 11.2% during the forecast period, 2019 to 2025. Growing demand for dietary sources and protein bars are the key factors driving the growth of the market across the globe.

Moreover, the rising number of distribution channels has made product availability much easier for the customers and the increasing number of advertisements campaigns have increased the product awareness among the consumers, this factor is further expected to boost the demand for sports supplement products.

Owing to hectic working hours and changing food habits, consumers are more inclined toward adopting healthy lifestyles. To accomplice their fitness goals, a large number of consumers are focusing on yoga, gym, and healthy food. Thus, changing consumers' preferences have led to rising demand for sports supplements, organic and dietary food. Additionally, the practice of self-diagnosis and self-analysis packs has increased the requirement for sports supplements in western countries.

It is further predicted that the impact of social media platforms and the retail channel will fuel the market growth. Moreover, the growing emphasis on R&D activities has increased the number of inventive sources with more benefits. Beverages and invigorated nourishments contain the same amount of nutrients and minerals, which are expected to hamper the growth of the sports supplements market.

In past, sports and athletics events were restricted to youngsters. This trend has changed over the recent years. Corporates have started giving importance to sports and a large number of employees are partaking in such activities. Further, parents are also motivating their children to take part in sports events to focus on physical development, thus fueling the demand for market growth.

Source Insights

Based on source type, the market is bifurcated into plant-based and animal-based. The animal-based segment held the largest revenue share and accounted for USD 11.4 billion, in 2018. The Rising availability and increasing presence of several important nutrients like vitamin B12, zinc, DHA, and vitamin D are expected to boost the demand for market growth. On the other hand, the plant-based segment is expected to experience the fastest growth with a CAGR of 11.9% during the forecast period, owing to the rising demand from vegetarian consumers.

Product Insights

On the basis of product type, the market is segmented into powder, capsules/tablets, bar, and liquid. The powder segment accounts for the largest revenue share of 66.4%, in 2018, owing to ease in consumption and storage. Moreover, dietary supplement producing companies like Amway is more focused on powder source, which is enriched with nutritive ingredients and can be used with water or milk. The capsule or tablets segment is expected to grow with a CAGR of 9.3% during the forecast period, owing to rising awareness about obesity.

Distribution Channel Insights

The offline channel holds the largest market share, in 2018 with over 50% of the total market share. The rising number of supermarket and hypermarkets stores such as Walmart, GNC, and Vitamin Shoppe are choosing offline channels for expanding their distribution channel and increasing brand value. In addition, the availability of cost-effective high-quality products in this segment would contribute to the growth over the forecast period. The online segment is anticipated to grow with the fastest CAGR of over 10.0% during the forecast period, 2019 to 2025 owing to rising internet penetration and e-commerce channels.

Regional Insights

Based on the region, the market is divided into North America, Asia Pacific, Europe, Middle East, and Africa, and Central and South America. The Asia Pacific holds a significant market share and it is expected to retain its dominant position over the forecast years. The growing dominance of the region is attributed to high potential growth opportunities in developing countries, like Hong Kong, India, and China.

North America held the largest share with over 34% in 2018, owing to the changing lifestyle of the consumer, increasing demand for nutritive foods, and rising number of fitness centers. Moreover, rising health issues and increasing health awareness are some of the key factors, which are expected to drive the demand for market growth in the coming years.

Asia Pacific market is expected to grow with the fastest CAGR during the forecast period from 2019 to 2025. The region is anticipated to witness significant growth, owing to increasing population, disposable income, and distribution channels in developing countries such as Bangladesh, India, and China. Additionally, growing development in the sports supplements sources such as vitamins and minerals is expected to positively affect the market growth.

COVID-19 Impact Insights

The sports supplement market has been negatively impacted by the COVID-19 outbreak, owing to the restriction imposed by the government for outdoor activities. Furthermore, due to the complete lockdown, various gyms, fitness centers, and athletic activities have been stopped. As a result, reducing the consumption of sports supplements over the past few months. However, exercise enthusiasts or regular gym-goers are adjusting their routines and nutrition intakes, in order to remain fit and healthy during the pandemic. Thus, expected to positively impact the market growth in the forthcoming years. Furthermore, as the lockdown will ease, the sports activities will also resume, thereby projected to boost the demand for sports supplements products in the upcoming years.

Sports Supplement Market Share Insights

The market is highly competitive and differentiated by several new strategies, such as merger & acquisition, product & technological advances, and capacity expansion, which are pursued by the key players to gain maximum market share. The key players in the market are Plethico Pharmaceuticals Limited; Creative Edge Nutrition; Glanbia Plc.; Universal Nutrition; NBTY; GNC Holdings, Inc.; Enervit SpA, Scitec Nutrition, MaxiNutrition, and Herbalife Ltd

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global sports supplement market report on the basis of Source, Distribution Channel, and region:

• Source Outlook (Revenue, USD Million, 2015 - 2025)
    • Animal-Based
    • Plant-Based

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Capsule/Tablets
    • Powder
    • Liquid
    • Bar

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Offline
    • Online

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
    • the Asia Pacific
        • India
        • China
        • Japan
    • Central & South America
        • Brazil
    • Middle East & Africa