Report : Europe Sports Nutrition Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Sports Supplements, Sports Food, Sports Drinks, and Others), Formulation (Powder, Tablets, Capsules, and Others), and Distribution Channel (Convenience Stores, Supermarkets and Hypermarkets, Specialty Stores, and Others)
At 7.7% CAGR, the Europe Sports Nutrition Market is speculated to be worth US$ 18,809.64 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe sports nutrition market was valued at US$ 12,078.44 million in 2022 and is expected to reach US$ 18,809.64 million by 2028, registering an annual growth rate of 7.7% from 2022 to 2028. Rising consumer base of sports nutrition and increasing prevalence of obesity are the critical factors attributed to the market expansion.
The Federation of International Basketball Associations (FIBA) estimated that large no. of people play basketball across the region, either recreationally or through structured competitions. The number of people participating in recreational sports, including high-impact sports such as tennis or soccer, is increasing in countries across the region. Nevertheless, sports are popular among people of all generations. Such an increase in participation in sports is projected to contribute to the growth of the sports nutrition market. Moreover, with the growing criticality of wellness and mindfulness, fitness has become a more relevant goal for many people. Physical exercises increase cardiovascular fitness and boost overall health by developing a mechanism for coping with stress, anxiety, and depression. As a result, with a surge in the number of people going to gyms and fitness centers, the consumption of health supplements has increased in recent years. Moreover, the rising cases of osteoporosis and low bone densities are also encouraging people to take health, diet, and fitness seriously. Musculoskeletal diseases are also the leading cause of years lived with disability (YLDs) across the region. Thus, with the increasing awareness of fitness and the growing prevalence of musculoskeletal disorders, osteoarthritis, and rheumatoid arthritis, the extending consumer base of sports nutrition—including athletes, bodybuilders, and non-athletes aspiring to adopt healthy lifestyles—drives the sports nutrition market growth.
On the contrary, availability of adulterated sports nutrition products hurdles the growth of Europe sports nutrition market.
- Based on type, the Europe sports nutrition market is segmented into sports supplements, sports food, sports drinks, and others. The sports supplements segment held 40.6% market share in 2022, amassing US$ 4,901.30 million. It is projected to garner US$ 7,732.17 million by 2028 to expand at 7.9% CAGR during 2022–2028. The sports supplements segment is further segmented into protein supplements, vitamins, minerals, and others. Similarly, sports food segment is categorized into protein bars, energy bars, and energy gels. Further, sports drinks segment is categorized into hypotonic, isotonic, and hypertonic.
- Based on formulation, the Europe sports nutrition market is segmented into powder, tablets, capsules, and others. The powder segment held 42.2% market share in 2022, amassing US$ 5,097.35 million. It is projected to garner US$ 8,189.63 million by 2028 to expand at 8.2% CAGR during 2022–2028.
- Based on distribution channel, the Europe sports nutrition market is segmented into convenience stores, supermarkets and hypermarkets, specialty stores, and others. The convenience stores segment held 34.8% market share in 2022, amassing US$ 4,208.58 million. It is projected to garner US$ 6,806.40 million by 2028 to expand at 8.3% CAGR during 2022–2028.
- Based on country, the Europe sports nutrition market has been categorized into the UK, Germany, France, Italy, Spain, and rest of Europe. Our regional analysis states that the UK captured 26.9% market share in 2022. It was assessed at US$ 3,253.93 million in 2022 and is likely to hit US$ 5,370.15 million by 2028, exhibiting a CAGR of 8.7% during the forecast period.
Key players dominating the Europe sports nutrition market are Abbott; Bulk Powders; Clif Bar & Company.; Glanbia Plc; GNC Holdings Inc.; Lovate Health Sciences International Inc.; MusclePharm Corporation; PepsiCo Inc.; The Coca-Cola Company; and Yakult Honsha Co., Ltd. among others.
- In Dec 2021, Glanbia Co-op approves the acquisition of 40% holding in Glanbia Ireland.
- In Oct 2021, GNC x GLAXON: GNC Announces Strategic Partnership with GLAXON.
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