Sports Supplement Market Size to Grow by $ 3.06 bn through 2020-2024
Technavio research projects the sports supplement market to grow by $ 3.06 bn, accelerating at a CAGR of over 8% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Sports Supplement Market: Key Market Driver
One of the primary factors that will trigger the growth of the sports supplement market size is Increased participation in sports and fitness activities. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
Sports Supplement Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Clif Bar & Co., Glanbia Plc, GlaxoSmithKline Plc, GNC Holdings Inc., Herbalife Nutrition Ltd., Klean Athlete, NOW Health Group Inc., PepsiCo Inc., Pro Action Srl, and The Natures Bounty Co. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.
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The Global Sports Supplement Market is expected to grow by USD 3.06 billion accelerate at a CAGR of over 8% during the forecast period. Techanvio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. Download our free sample report with COVID-19 analysis
Sports Supplement Market: Segmentation by Distribution Channel
During 2019, the offline segment dominated the Global Sports Supplement Market in 2019. The offline segment enables customers to see and touch the products before purchase and thus buy quality products. Retail outlets thus enable customers to guard against being duped by the several counterfeit products available in the market. There is a significant growth in the number of retail outlets being established in developing and emerging countries such as China and India. The wide presence and popularity of large retail outlets, such as Walmart Inc. (Walmart), Costco Wholesale Corp. (Costco), and The Kroger Co. (Kroger) retail stores is expected to increase the adoption of sports supplements during the forecast period.
In the rural areas of developing countries, internet penetration is low, which limits access to online stores. Moreover, consumers are more comfortable buying products with the assistance of store executives due to a lack of awareness and information about sports supplements.
Sports Supplement Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Clif Bar & Co., Glanbia Plc, GlaxoSmithKline Plc, GNC Holdings Inc., Herbalife Nutrition Ltd., Klean Athlete, NOW Health Group Inc., PepsiCo Inc., Pro Action Srl, and The Natures Bounty Co. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio forecasts three scenarios (optimistic, probable, and pessimistic) to evaluate the impact of COVID-19 Download a Free Sample Report. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.
