PUBLISHER: The Insight Partners | PRODUCT CODE: 1509802
PUBLISHER: The Insight Partners | PRODUCT CODE: 1509802
The Europe sports nutrition market size is projected to reach US$ 10.79 billion by 2031 from US$ 5.32 billion in 2023. The market is expected to register a CAGR of 9.3% during 2023-2031.
There is an increase in the prevalence of health conditions such as diabetes and obesity in Europe region. According to the WHO, obesity and overweight affect almost 60% of adults and nearly one in three children in the WHO European Region. Also, recent estimates suggest that obesity and overweight are the fourth most common risk factors for noncommunicable diseases (NCDs) in the Europe region, after high blood pressure and dietary risks. With the rising health awareness and the increasing focus on a better physical appearance, consumers are increasingly shifting toward a healthy lifestyle with engagement in physical fitness activities. In addition, various policies are being implemented to provide opportunities and encourage greater physical activity, and improve the availability, affordability, and accessibility of healthy foods. Several sports events are also taking place across the region, such as the London Marathon, IAAF World Championships, and Tour de France, resulting in increased involvement of youth in sports activities. Thus, the increasing adoption of sports activities leads to a rising demand for sports nutrition products, including protein powders, protein bars, and sports supplements, by athletes to increase their overall performance, especially during games and workouts.
With the growing demand for sports nutrition products, key players are taking various strategic initiatives to differentiate themselves from their competitors. Several manufacturers are launching innovative products. For instance, in 2024, the UK-based sports nutrition brand SCI-MX added a new clear whey protein isolate to its line-up of high-protein products.
Various manufacturers in the sports nutrition market are engaged in collaborations with athletes to expand their customer base, which is further boosting the growth of the sports nutrition market in Europe. For instance, in August 2023, ahead of the Paris 2024 Olympic Games, VOW Nutrition, a sports nutrition brand, collaborated with Team GB as the Official Nutrition Licensee. Such celebrity endorsement plays a vital role in boosting the sales of sports nutrition products.
Based on product type, the Europe sports nutrition market is segmented into supplements, bars, RTD beverages, and others. Supplements segmented is further categorized into powders, tablets & capsules, gummies, and others. The supplements segment holds a significant market share in 2023. Sports supplements are designed to provide an energy boost, enhance performance, and aid endurance throughout the workout or sports activities of the consumers. These performance-enhancer sports supplements, including powders, gummies, tablets, capsules, and others, are in high demand among athletes and bodybuilders.
Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. Online retail segmented expected to register highest CAGR in the Europe sports nutrition market. Online retailers are likely to increase their sales and profits faster than retail shops, as selling online offers the advantage of being open 24x7. During the COVID-19 pandemic, online retail channels gained popularity as they offered home delivery services. Further, international brands are encouraging customers to purchase sports nutrition products by establishing European e-commerce platforms.
Glanbia plc, NOW Foods, Garden of Life, PepsiCo Inc., Quest Nutrition LLC, Abbott Laboratories, Amway Corp, GNC Holdings, LLC, Worldwide Sport Nutritional Supplements, Inc., Herbalife Nutrition Ltd. are among the key players operating in the Europe sports nutrition market.
The overall Europe sports nutrition market size has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs; business development managers; market intelligence managers; national sales managers; and external consultants, including valuation experts, research analysts, and key opinion leaders, specializing in the Europe sports nutrition market.