The North America sports nutrition market size is expected to reach USD 29.8 billion by 2027 and is expected to expand at a CAGR of 15.4% from 2021 to 2027.
Increasing inclination towards pursuing a healthy and active lifestyle, rising number of fitness centers and gyms in the region, and increased awareness about the importance of sports nutrition products are the key factors driving the market.
According to estimates published by International Health, Racquet and Sportsclub Association (IHRSA), there has been a 27% rise in the number of health club members in the U.S., from 58 million in 2010 to 73.6 million in 2019. In addition, the rate of participation in Mexico's 1,434 gyms and fitness centers was 3.2% of the overall population. As per Statista reports, the Canadian gym and fitness center market was valued at USD 4,300 million in 2020.
Moreover, rapidly changing lifestyles leading to an increased prevalence of chronic diseases and obesity is another key factor positively impacting market growth. As per CDC estimates, the adult obesity prevalence rate was estimated at 42.4% in 2017-2018. The rate increased from 30.5% in 1999-2000 to 42.4% in 2017-2018.
As per CDC estimates for obesity prevalence in children and adolescents in 2017 - 2018, it has been stated that 21.2 % of adolescents between the age of 12-19 years are obese; 20.3% children in the age group of 6-11 years; and 13.4% children in the age group of 2-5 years are obese. Similarly, as per Statistics Canada in 2018, there were 26.8% of adults classified as obese and 36.3% of adults as overweight. Moreover, as per The Lancet estimates in 2018, 36.1% of adults were termed as obese in Mexico.
In addition, majority of the players in the market are increasingly investing in the development of new products and are continuously upgrading their existing products. The rising demand for organic and plant-based nutritional products is also contributing to market growth.
Leveraging the growing trend of consuming plant-based or vegan products companies are developing products in that category. Gold Standard 100% plant-based whey protein powder of Glanbia, plc and Vega Sport Premium Protein of Vega are some of the examples of plant-based protein powders commercially available in the market.
North America Sports Nutrition Market Report Highlights
The market is anticipated to witness significant growth over the forecast period owing to increasing inclination towards healthier lifestyles, rising number of fitness and health centers, and increasing healthcare expenditure
The sports supplements segment dominated the market in 2020, owing to increasing consumption of supplements amongst athletes and recreational enthusiasts
The post-workout segment dominated the market in 2020, owing to increasing consumption of nutritional products for muscle growth and recovery
The powder segment dominated the market in 2020, owing to the fact that these formulations are easier to consume and consist of stable ingredients
The adult consumer segment dominated the market in 2020 owing to a rise in fitness centers and gym memberships and increased healthcare expenditure
The brick and mortar segment accounted for the largest revenue share in 2020 owing to high consumer base for the retail stores
The U.S. dominated the market in 2020 owing to increased disposable income and rising number of gyms
Market Driver Analysis
Increase In Health Consciousness And Rise In Awareness About Sports Nutrition Products
Increasing Disposable Income
Increasing Number Of Initiatives In The Field Of Sports Nutrition
Increase In Spending On Sports Nutrition Products
Increasing Obesity Prevalence
Market Restraint Analysis
Availability Of Counterfeit Products In The Market
Market Challenge Analysis
Changes in Regulatory Scenario
Overview of Consumption of Sports Nutrition Products Among Different Consumer Groups
Nutrineo-health food solutions
High Performance Nutrition LLC
Pure Natura EHF
Glanbia Nutritionals (optimum nutrition)
Maxim Sports Nutrition (orkla care)
Clif Bar & Company
Reckitt Benckiser Group
Redcon 1 LLC
Core Nutritionals, LLC
The Genius Brand
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210917005377/en/
Laura Wood, Senior Press Manager
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