Report : South America 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 7.0% CAGR, the SAM Sports Nutrition Market is speculated to be worth US$ 3,232.14 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the SAM sports nutrition market was valued at US$ 2,153.97 million in 2022 and is expected to reach US$ 3,232.14 million by 2028, registering an annual growth rate of 7.0% from 2022 to 2028. Rise in product visibility and surge in availability of plant-based nutrition products are the critical factors attributed to the market expansion.
Product visibility has increased with the growing focus of manufacturers on promoting their products at sports events. These events provide a beneficial platform for promoting and distributing sports nutrition products and spreading awareness of brands. In 2020, the Olympics set the stage for sports nutrition market players, with a spotlight on mental health. Moreover, many players focus on boosting their immunity to reduce sick days during training or tackle things such as pregame stress, and supplements can provide assist them in attaining these objectives. Thus, the rising focus of sports nutrition manufacturers on promoting their products at such global events is projected to augment the market growth in the coming years. An increasing number of health clubs and fitness centers, along with the elevating number of members, would further accelerate the sports nutrition market growth during the forecast period.
On the contrary, availability of adulterated sports nutrition products hurdles the growth of SAM sports nutrition market.
- Based on type, the SAM sports nutrition market is segmented into sports supplements, sports food, sports drinks, and others. The sports supplements segment held 39.7% market share in 2022, amassing US$ 855.31 million. It is projected to garner US$ 1,299.50 million by 2028 to expand at 7.2% 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 SAM sports nutrition market is segmented into powder, tablets, capsules, and others. The powder segment held 39.7% market share in 2022, amassing US$ 854.55 million. It is projected to garner US$ 1,328.78 million by 2028 to expand at 7.6% CAGR during 2022–2028.
- Based on distribution channel, the SAM sports nutrition market is segmented into convenience stores, supermarkets and hypermarkets, specialty stores, and others. The convenience stores segment held 32.3% market share in 2022, amassing US$ 696.44 million. It is projected to garner US$ 1,090.07 million by 2028 to expand at 7.8% CAGR during 2022–2028.
- Based on country, the SAM sports nutrition market has been categorized into Brazil, Argentina, and rest of SAM. Our regional analysis states that Brazil captured 52.4% market share in 2022. It was assessed at US$ 1,128.90 million in 2022 and is likely to hit US$ 1,745.03 million by 2028, exhibiting a CAGR of 7.5% during the forecast period.
Key players dominating the SAM sports nutrition market are Abbott; 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 March 2022, MusclePharm announced the launch of Ready-to-Drink Protein category.
In Nov 2021, The Coca-Cola Company announced that it has acquired full ownership of BODYARMOR, a line of sports performance and hydration beverages that is incremental to the Coca-Cola beverage portfolio and has significant potential for long-term growth.
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