According to a new report published by Grand View Research, High demand for protein bars and dietary sources among athletes and bodybuilders with rigorous marketing campaigns by manufacturers are the key factors helping the market to proliferate.
The global sports supplement market size is anticipated to reach USD 43.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 11.2% over the forecast period. Increasing number of health clubs and fitness centers and urbanization are the key driving factors in the market. Some of the important trends observed in the market are growing demand for caffeine-free products and increasing investment by the companies in product development.
Demand for supplements has increased globally due to growing health concerns. Moreover, the need for sports supplements has been increasing from the past few years. Earlier athletics and sports activities were limited to teenage and young people. However, from the last few years, it has been observed that participation of children in such activities has been increasing. Parents are also supporting their children to participate in sports events to promote their overall development, thereby encouraging the growth of the market.
Protein powder is the largest product segment in the market and expected to generate a revenue of around USD 29.68 billion by 2025. Protein-based powders are one of the most common sports supplements with 1,174 brand variants and a total of 411 brands captured by Lumina Intelligence. This product category also attracted the most customer reviews, with a global total of 1.62 million and an average of 940 reviews per product.
Protein bar is expected to witness rapid growth over the forecast period, registering a CAGR of 10.3%. Shifting consumer inclination towards fruit and nut bars is expected to increase the product demand in the foreseeable future.Common supplements to increase an athlete’s energy are Guarana, Vitamin, Asian ginseng, B12, and Caffeine. Caffeine, one of the favorite energy drinks, can be found in different forms such as tablets or capsules, pills, and in common beverages like tea and coffee.
The online distribution channel is expected to witness significant growth in the market. In 2018, North America was the leading revenue contributor in the market, accounting for 34.8% share of the overall revenue. Increasing number of health and fitness centers and gyms, growing health awareness, and changing consumer preferences for protein products are some of the primary reasons for the market growth in the region.
Asia Pacific is anticipated to emerge as the fastest growing regional market and exhibit a CAGR of 12.4% during the forecast period. This is attributed to growing health and fitness awareness, rising disposable…