Performance Nutrition Market

Performance Nutrition Market Outlook (2023-2033)

Riding on an attractive CAGR of 7.2%, the global performance nutrition market is expected to surpass a market value of US$ 72.1 billion by 2033, up from US$ 36 billion in 2023.

Although protein supplement consumption is heading to maturity, the consumption of hydration boosters and energy boosters is in the growth stage of PLC across several geographies. Furthermore, custom formulations are rapidly gaining attention all across the world, which is expected to boost the demand for performance nutrition products.

The considered historical period (2018-2022) witnessed a significant evolution in performance nutrition solutions. Conventional consumption of the product was earlier limited to protein supplements only. The prime reason is excessive workouts, which are essential for athletes, caused muscle damage and demanded a huge amount of proteins for both muscle repair and build-up.

Protein supplements have been widely adopted for post-training meals or nutrition. However, the spur of new products such as energy boosters and hydration boosters revolutionized the sports nutrition industry. Increasing research and understanding of how the needs of the human body scale differently for professional athletes and fitness enthusiasts as compared to the general population has accelerated the adoption of performance nutrition across the world.

On a different note, the hit of the pandemic boosted general health awareness among consumers. It highlighted the need for balanced nutrition among all. This positively impacted the market with an increase in the number of fitness enthusiasts and a consequent increase in the consumption of performance nutrition products.

Under the influence of these factors, sales of performance nutrition products grew at a compound annual growth rate of 9.8% during the historical period of 2018 to 2022.

In the present scenario, the introduction of various forms of products such as gummies, gels, bars, and portable drinks are significantly boosting the adoption of the target product. Furthermore, increasing fitness enthusiasm among the ever-growing geriatric population is also accelerating the uptake of protein supplements significantly.

Macroeconomic factors such as increasing per capita disposable income in developing economies are also expected to create an opportunity for manufacturers to expand in otherwise recessive regions such as South Asia. Additionally, endorsements by celebrities and influencers will also drive awareness and increase acceptance of the product under the growing impact of social media.

• The market will experience rapid growth in the near-term forecast period under the influence of increasing fitness enthusiasm among millennials and Gen-Zers.
• Increasing affordability of the population in developing economies is expected to propel the market across distinct regions in the medium term.
• Long-term market growth will be dictated by manufacturers through the launch of new products associated with minimal challenges, like that of digestion and better nutrition enhancement properties. Such products are projected to be rapidly accepted among the population over the coming years.

Report Attributes	Details
Market Size (2022A)	US$ 32.9 Billion
Estimated Market Value (2023E)	US$ 36 Billion
Forecasted Market Value (2033F)	US$ 72.1 Billion
Global Market Growth Rate (2023-2033)	7.2% CAGR
North America Market Share (2022)	~ 34.4%
Europe Growth Rate (2023-2033)	~ 6.1% CAGR
United States Market Growth Rate (2023-2033)	~ 5.7% CAGR
Market Share of Top 5 Companies	~ 12.3%
Key Companies Profiled	Abbott Bare Performance Nutrition Champion Performance DSM Glanbia plc Herbalife International of America, Inc. Iovate MusclePharm Nestlé Nutrition & Biosciences (IFF) Nutrivo LLC Quest Nutrition & Athletics The Bountiful Company VMI Sports

Why is Demand for Performance Nutrition Products Rising at a Brisk Pace?

“Launch of Activity- & Training Time-Specific Nutrition Products’’

The expanding range of performance nutrition products such as hydration drinks, fast-release energy drinks, slow-release energy drinks, combination release energy drinks, recovery drinks, etc., in different forms like gummies, gels, bars, etc., has ensured a product fit for every kind of need.

These diverse offerings are formulated to maximize the benefits of product consumption in accordance with the sternness and time of activity. This has instated in consumers the ability to choose the right product for the right time. Further, the availability of customizable formulations gives consumers the power of choice, making the market more lucrative.

The launch of energy gels for the discomfort caused by solid nutrition products such as bars in the stomach during the workout addressed several challenges of portability. Such innovations from manufacturers will significantly aid market growth over the coming years.

“Varied Protein Supplements Have Helped Older Athletes in Maintaining Muscle Mass”

Protein synthesis rates decrease as we grow older. As a result, as athletes age, muscle mass maintenance becomes a key challenge. Sufficing this need was nearly impossible with a regular diet. Researchers also found that supplementing both young and old athletes with the same amount of protein supplements did not help older athletes enough.

Consequently, protein supplement intake among older athletes has escalated. This has propelled the consumption of performance nutrition products.

What Issues Do Performance Nutrition Manufacturers Face?

“Associated Health Issues with Performance Nutrition Intake”

Although performance nutrition products help athletes achieve their fitness targets, this comes with a cost. Their consumption is linked with kidney damage, several GI problems, insomnia, headaches, liver damage, etc. Over-consumption of these sports supplements is also a customary issue.

With a fixed ratio of individual nutrients such as proteins, carbohydrates, and lipids, these products are dose-dependent. The lack of knowledge of possible side effects makes consumers abuse the consumption to hasten fitness target achievements. This has been a cause of several severe ill effects on the body, restraining the product market.

Market share analysis of performance nutrition based on product and region. Under the product segment, protein supplements dominate the market with a value share of 48.7% in 2023.

Country-wise Insights

What Makes the United States Lead Global Consumption of Performance Nutrition Products?

Physical fitness standards are gaining popularity among millennials and Gen-Z in the United States. Consequently, the country has seen 40% increase in the number of gyms and training centers over the last 5 years. Americans are increasingly engaging themselves in extreme physical activities and workouts. This has, as a result, increased their dependence on performance nutrition to achieve target fitness standards.

Another key factor contributing to the dominance of the U.S. is the higher per capita disposable income of the population that makes supplement nutrition affordable. The U.S. is expected to account for more than 80% share of the North American performance nutrition market by the end of 2033.

Category-wise Insights

Which Performance Nutrition Products are Gaining Popularity among Consumers?

Protein supplements remain the dominant product segment among consumers. The inevitable need for high proteins to build muscle mass and the incapability of achieving the same with a regular diet are prime drivers for protein supplement consumption. Energy boosters are however closely racing this demand.

The launch of slow energy release drinks, fast energy release drinks, and combined energy release drinks is targeted at all kinds of consumers. These energy boosters are rapidly gaining traction in economically developed economies and are expected to lead to notable opportunities in the near future.

Why are Manufacturers Targeting D2C Sales Channels?

Increasing dependence on online purchase channels has enhanced the importance of customer feedback for each product. Manufacturers are, thus, aiming to improve relations with consumers and enhance brand identity to boost direct to customer sales.

Focus on D2C sales also helps manufacturers to upgrade their portfolio in sync with the evolving consumer demand as well as improves their profit margin by eliminating the mid-level players. Both online and offline D2C sales are expected to increase rapidly over the forecast period of 2023 to 2033.

Competitive Landscape

The market is fragmented between both manufacturers and private label firms. Some of the prominent manufacturers of performance nutrition products are Abbott, Bare Performance Nutrition, Champion Performance, DSM, Glanbia plc, Herbalife International of America, Inc., Iovate, MusclePharm, Nestlé, Nutrition & Biosciences (IFF), Nutrivo LLC, Quest Nutrition & Athletics, The Bountiful Company, and VMI Sports.

Mergers and acquisitions have been the key strategies for product portfolio expansion among market leaders. Sensing the impact of social media on consumers, manufacturers are increasingly investing in celebrity endorsements for their products.

Apart from this, product innovation remains key to dominance for emerging market players. The market holds limitless scope for innovation with flavors, customization, and forms of offering. Products that overcome associated health risks will embrace countless growth opportunities.

• In May 2022, DSM, a science-based company operating in health, nutrition, and sustainable living segments, announced a merger with Fermenich, a Switzerland-based flavor and fragrance manufacturer.
• In August 2021, Nestlé Health Science acquired the core brands of The Bountiful Company, including Nature’s Bounty®, Solgar®, Osteo Bi-Flex®, Puritan’s Pride®, Ester-C®, and Sundown®.

Fact.MR has provided detailed information about the price points of key manufacturers of performance nutrition products positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

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
  • Bars
  • Gummies
  • Tablets, Soft Gels, & Capsules

• By Consumption Category :

  • Before Training
  • During Training
  • After Training
  • Training Independent

• By Sales Channel :

  • Offline
    • Hypermarkets/Supermarkets
    • Convenience Stores
    • Specialty Stores
    • Pharmacies
    • Offline D2C Sales
  • Online
    • Brand Websites
    • e-Commerce Platforms

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & ASEAN
  • Oceania
  • Middle East & Africa