Sports Nutrition Market Size, Share & Trends Report

Sports Nutrition Market Size, Share & Trends Analysis Report By Product Type (Sports Supplements, Sports Drinks), By Formulation, By Consumer Group, By Sales Channel, By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-2-68038-721-6
  • Number of Pages: 140
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2022
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the sports nutrition market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for sports nutrition market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of sports nutrition market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Sports Nutrition Market Categorization:

The sports nutrition market was categorized into five segments, namely product type (Sports Supplements, Sports Drinks, Sports Foods, Meal Replacement Products, Weight Loss Product), formulation (Tablets, Capsules, Powder, Softgels, Liquid), consumer group (Brick & Mortar, E-commerce), sales channel (Children, Adults, Geriatric), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Segment Market Methodology:

The sports nutrition market was segmented into product type, formulation, consumer group, sales channel, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The sports nutrition market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-four countries, namely, the U.S.; Canada; Germany; the UK; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; South Korea; Singapore; Australia; Thailand; Brazil; Mexico, Argentina; South Africa; Saudi Arabia, UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Sports nutrition market companies & financials:

The sports nutrition market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • PEPSICO - PepsiCo is a leading food and beverage company that serves customers in more than 200 countries and territories across the world. The company’s portfolio includes a broad range of enjoyable foods & beverages and is made up of seven divisions that include Frito-Lay North America; PepsiCo Beverages North America; Quaker Foods North America; Europe; Middle East & South Asia, Africa; Latin America; and APAC, China, and Australia/New Zealand. Stokely-Van Camp, Inc. is a subsidiary of PepsiCo and manufactures & distributes beverages in the U.S. as well as internationally. This subsidiary offers protein powders & shakes, bars & chews, and sports drinks. Furthermore, the company sells its products directly to consumers or through retail grocery stores, wholesalers, and food service distributors.

  • ABBOTT - Abbott is a global medical technology company that focuses on innovation, development, and distribution of diagnostic, medical devices, cardiovascular, diabetes, neuromodulation, branded generic pharmaceuticals, and nutraceutical offerings. It offers hematology, automation & transfusion instruments and immunochemistry reagents & tests for applications in the fields of cancer & cardiology, drugs of abuse, fertility, infectious diseases, retrovirus, therapeutic drug monitoring, and transplantation. Its product portfolio covers areas such as medical devices, diagnostics, nutritional products, and branded generic pharmaceuticals. It serves over 22,000 customers in 160 countries across the globe. The company is present in Argentina, Brazil, Chile, Colombia, Ecuador, Peru, Uruguay, and Venezuela in Latin America.

  • CLIF BAR & COMPANY - Clif Bar & Company manufactures organic foods and drinks. The company’s key product offerings range from energy bars to organic snacks to sports drinks to protein bars. The renowned products of the company are the Clif Bar energy bar, Clif Bar Ice Series, Luna energy bar, and Clif Shot energy boosting gel. It distributes its products across the U.S. through online platforms, grocery stores, and other retail channels. Furthermore, the company distributes its products in Australia, Germany, France, Italy, Ireland, Japan, Iceland, and the UK.

  • SCIENCE IN SPORT - Science in Sport is engaged in developing, manufacturing, and marketing innovative sports supplements & nutritional products to be used by professional athletes and sports enthusiasts. The company has manufacturing facilities in Lancashire and Nelson, where all products are tested and certified through the Informed-Sport program. It operates in the UK market, through a multichannel distribution strategy in all online and retail channels. The company’s products are endorsed by brand ambassadors such as Jonny Jacobs, Eloise Du Luart, James Ward, Beth Potter, Max Willcocks, and Ben Gregory. Its products are available in the form of gels, powders, bars, tablets, and shakes.

  • THE HUT.COM LTD. - Ltd. is an e-commerce technology platform that operates 178 localized websites, catering to customers in 169 countries. It has three product categories—beauty, wellbeing, and third party. The well-being product category includes brands such as MyProtein, Exante, Ideafit, and IdealShape. The company’s partners are Honda, Daily Mail group, P&G, Nintendo, and Nestlé. It has offices in 13 locations in countries such as the U.S., European countries, the UK, and Australia.

  • CARDIFF SPORTS NUTRITION LIMITED - Cardiff Sports Nutrition Limited is a dedicated sports nutrition store that offers products from leading brands at low prices. In addition, the store provides training tips, and dietary information, and helps in recommending products based on the specific goals of an individual. It supplies various products such as amino acid supplements, clothing & accessories, fat loss supplements, drug-tested supplements, health & vitality, performance & recovery, protein supplements, health food & snacks, pre-workout supplements, and nut butter & oils.

  • IOVATE HEALTH SCIENCES INTERNATIONAL, INC. - Iovate Health Sciences International, Inc. offers weight management and active nutrition supplements. It has several products under its portfolio such as MuscleTech, Purely Inspired, Hydroxycut, and Six Star Pro Nutrition. Furthermore, the company has two distribution centers in New York and Buffalo that offer services to customers in the U.S. and overseas. The company functions as a subsidiary of Kerr Investment Holding Corp.

  • THE COCA-COLA COMPANY - The Coca-Cola Company manufactures and distributes beverages across the globe. The company caters to over 500 nonalcoholic beverage brands in more than 200 countries. All the beverages fall under different categories of drinks, such as sports drinks, sparkling soft drinks, juices, water, energy drinks, plant-based beverages, and teas & coffee. Furthermore, the company distributes its beverages through a network of its bottling partners and other independent bottling partners, wholesalers, distributors, & retailers around the world.

  • GLANBIA PLC (OPTIMUM NUTRITION) - Glanbia PLC is a global company that manufactures, markets, and sells a wide range of nutraceuticals. The company mainly operates through two business segments—Glanbia Performance Nutrition and Glanbia Nutritionals. In addition, it has three strategic joint ventures, including Glanbia Ireland, Glanbia Cheese, and Southwest Cheese, which are primarily focused on dairy processing. Glanbia Nutritionals covers a wide category of sports nutrition, supplements, mainstream food & beverage, clinical nutrition, and infant nutrition. Glanbia Performance Nutrition comprises brands such as BSN, Optimum Nutrition (ON) Nutramino, ABB, Amazing Grass, Body & Fit, Isopure, and thinkThin. The company has 27 production facilities across the world, including the U.S., the UK, Ireland, Germany, and China. It has four global R&D centers. The company has a worldwide presence in around 32 countries, while its products are sold in over 130 countries across the globe.

  • MUSCLEPHARM - MusclePharm is a health and sports nutrition supplement manufacturing company providing enhanced nutrition to improve the performance and caliber of athletes. Its portfolio includes MusclePharm Sports Series, Essential Series, Natural Series, and FitMiss. The company, through its established distribution channels, serves consumers across 100 countries in the world. Combat Protein is a key product of the company. MusclePharm is known as The Athlete’s Company in the sports nutrition space. The products provide benefits such as muscle strengthening, lean muscle building, endurance, weight management, muscle recovery, and overall wellness.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Sports Nutrition Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2023, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Sports Nutrition Market Report Assumptions:

  • The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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