Rockville, Dec. 19, 2022 (GLOBE NEWSWIRE) — As per this new report by Fact.MR, a market research and competitive intelligence provider, the global performance nutrition market is estimated at US$ 36 billion in 2023 and is predicted to expand at an impressive CAGR of 7.2% during the forecast years of 2023 to 2033.
The performance nutrition industry is gaining traction due to rising health and fitness awareness. The population in economically developed and developing countries now devote a significant portion of their disposable income to fitness and well-being. Consequently, the number of gyms and training centres is on the rise, propelling the number of fitness enthusiasts further. The goal of achieving a balanced nutrition to complement a rigorous workout has been the key driver for the performance nutrition market.
Launch of varied forms of supplements such as gels, gummies, and capsules to aid the convenience of consumers has notably boosted product adoption. Sorting nutrition according to the strength of training and sternness of the activity has also expanded the market significantly. Addition of various flavours and blends to supplements have made them more palatable. However, with the increasing trend of veganism across all domains of the food industry, Fact.MR suggests that the launch of more plant-based supplements will drive rapid commercial success for emerging players in this field.
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Key Takeaways from Market Study
- The global performance nutrition market is projected to expand at a CAGR of 7.2% and be valued at US$ 72.1 billion by 2033.
- The market exhibited 9.8% CAGR from 2018 to -2022.
- Under product, protein supplements re estimated to be valued at US$ 17.5 billion in 2023.
- North America dominated the worldwide market with 34.6% share in 2022.
- Sales of performance nutrition products are expected to increase at CAGRs of 7% and 8.4%, in East Asia and South Asia & ASEAN, respectively.
“Developmental opportunities for personalized performance nutrition products for every individual will enhance the demand for target products,’’ says a Fact.MR analyst.
Segmentation of Performance Nutrition Industry Research
- By Product :
- Hydration Boosters
- Protein Supplements
- Energy Boosters
- Meal Replacements
- Custom Formulations
- By Form :
- Ready-to-drink Beverages
- Powder Drink Mixes
- Tablets, Soft Gels, & Capsules
- By Consumption Category :
- Before Training
- During Training
- After Training
- Training Independent
- By Sales Channel :
- Convenience Stores
- Specialty Stores
- Offline D2C Sales
- Brand Websites
- e-Commerce Platforms
- By Region :
- North America
- Latin America
- East Asia
- South Asia & ASEAN
- Middle East & Africa
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The performance nutrition market will experience positive growth as the population is gravitated towards maintaining their physical health. Manufacturers’ diverse product offerings is the key point of attraction for customers. The market is completely fragmented leading to intense competition among global players to secure dominance.
Key Companies Profiled
- Bare Performance Nutrition
- Champion Performance
- Glanbia plc
- Herbalife International of America, Inc.
- Nutrition & Biosciences (IFF)
- Nutrivo LLC
- Quest Nutrition & Athletics
- The Bountiful Company
- VMI Sports
Market leaders are aiming to boost their direct to customer sales by enhancing brand identity and rapidly upgrading their product portfolios in accordance with changing consumer trends.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global performance nutrition market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights based on product (hydration boosters, protein supplements, energy boosters, meal replacements, custom formulations), form (ready-to-drink beverages, powder drink mixes, bars, gummies, tablets, soft gels & capsules), consumption category (before training, during training, after training, training independent), and sales channel (offline, online), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & ASEAN, Oceania, and the Middle East & Africa).
Check out more related studies published by Fact.MR Research:
Nutritional Blends Market: Over the 2018-2022 historical period, the global nutritional blends market registered a CAGR of 4.8%, The market is anticipated to reach a valuation of US$ 5.8 billion in 2023 and further expand at a CAGR of 5.3% to climb to US$ 9.7 billion by the end of 2033. Steady market growth is attributed to the flourishing demand for fortified food products, especially from the working women’s section.
Nutritional Yeast Market: The global nutritional yeast market accounts for US$ 428.1 million at present and is anticipated to reach a market valuation of US$ 999.5 million by the end of 2032. High market expansion is because worldwide consumption of nutritional yeast is predicted to surge ahead at a CAGR of 8.8% between 2022 and 2032.
Sports Nutrition Market: The global sports nutrition market report indicates that sales of overall sports nutrition enjoyed year-on-year (YoY) growth of 5.3% in 2021. Fact.MR estimates that the sports nutrition market accounted for US$ 15.8 Bn in 2021, and is expected to witness a prominent CAGR of 7.9% over the decade. Sales of sports nutrition represent approximately 5%-10% share in the overall nutraceuticals market.
Maternal Nutrition Products Market: Maternal nutrition focuses on women for nutritional growth during pregnancy. Maternal nutrition products in the market are available in various forms, such as powder, tablets, and other easy consumable forms. As part of nutritional supplements, these products focus on pregnant women care in all stages, from the beginning to the end of the gestation period. Often, food intake does not help with nutrient intake, and maternal nutrition products are required in addition to the diet for women during their gestation period.
Infant Nutritional Premix Market: According to latest study by Fact.MR, infant nutritional premix demand is expected to grow at a substantial rate over the forecast period. The rapid influx of working mothers in urban areas has led to heightened demand for convenient and nutritional baby food. The global market is projected to surpass a value of US$ 370 Mn by the end of 2031, expanding nearly 2x.
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