With a compelling compound annual growth rate (CAGR) of 7.2%, the global performance nutrition market is poised to exceed a market valuation of US$ 72.1 billion by 2033, a significant increase from its 2023 value of US$ 36 billion.
While the consumption of protein supplements is approaching maturity, the utilization of hydration boosters and energy boosters is experiencing robust growth across various regions in the product life cycle (PLC). Additionally, there is a growing global interest in custom formulations, which is expected to drive the demand for performance nutrition products.
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Key Takeaways from Market Study:
- The global performance nutrition market is projected to expand at a CAGR of 7.2% and be valued at US$ 72.1 billion by 2033.
- The market exhibited 9.8% CAGR from 2018 to -2022.
- Under product, protein supplements re estimated to be valued at US$ 17.5 billion in 2023.
- North America dominated the worldwide market with 34.6% share in 2022.
- Sales of performance nutrition products are expected to increase at CAGRs of 7% and 8.4%, in East Asia and South Asia & ASEAN, respectively.
“Developmental opportunities for personalized performance nutrition products for every individual will enhance the demand for target products,’’ says a Fact.MR analyst.
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
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How will be insights and market estimations provided in the Fact.MR report on the Demand of Performance Nutrition make a difference?
- The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
- The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
- The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
- Provides scrutiny of the industry trends that have shaped recent government policies
- Provides an account of major breakthroughs in all segments that might change the course of the market considerably
- Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Performance Nutrition Market
- Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
- Evaluates the role of various stages of funding on new growth avenues in key regional markets
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