BURLINGAME, Calif.,
July 9, 2024 /PRNewswire/ -- The
global Workout Supplements Market, valued at $17.61 billion in 2023, is on a trajectory of
rapid expansion, with projections indicating it will soar to
$36.38 billion by 2030, growing at a
compound annual growth rate (CAGR) of 10.9% from 2023 to 2030, as
per a recent report by Coherent Market Insights. Increasing Health
Awareness among Population is Fueling Growth in Workout Supplements
Market. People are becoming increasingly health conscious and
focusing on fitness and wellness. With busy lifestyles and hectic
schedules, people want supplements that help them reach fitness
goals faster and more effectively. Workout supplements offer
vitamins, minerals, proteins and other ingredients that boost
energy levels, enhance muscle growth and support weight loss.
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Market Dynamics:
The global workout supplements market is witnessing significant
growth owing to rising awareness about health and fitness among
consumers. Growing consumption of protein supplements to build
muscles and pre-workout supplements to boost energy levels is
driving the market growth. Additionally, easy availability of
supplements through online distribution channels and celebrity
endorsements promoting the usage of supplements is further
augmenting the market growth.
Global Workout Supplements Market Report Coverage
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$17.61 billion
|
Estimated Value by
2030
|
$36.38 billion
|
Growth
Rate
|
Poised to grow at a
CAGR of 10.9%
|
Historical
Data
|
2018–2021
|
Forecast
Period
|
2023–2030
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Form, By
Distribution Channel
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Growth
Drivers
|
• Increasing health and
fitness awareness
• Growing inclination
towards weight management and weight loss
• Promotion and
marketing activities by suppliers
|
Restraints &
Challenges
|
• High cost associated
with branded supplement
• Concerns regarding
product safety and side effects
• Stringent regulations
for product approval
|
Market Trends:
The demand for plant-based supplements is growing in the global
workout supplements market due to rising preference for vegan and
organic products. Plant-based supplements offer various health
benefits and are considered animal-friendly. Moreover, growing
concerns regarding side effects of whey protein supplements such as
indigestion and bloating is fueling the demand for supplements from
plant-based sources like peas, hemp, and rice.
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The collagen supplements are gaining popularity in the global
workout supplements market, especially among women. Collagen
assists in building strong bones, muscles, and joints. It also
helps in improving skin elasticity and reducing wrinkles. The
anti-aging properties of collagen have increased its demand in the
overall workout supplements industry.
The powder form segment accounts for the largest share of the
global workout supplements market in 2023. Powder supplements are
highly convenient to consume and provide ease of dosing and mixing
with other ingredients like protein powders. The powder form allows
manufacturers to include a high concentration of active ingredients
while keeping the overall pill size small. These factors are
driving the increasing popularity and uptake of powder workout
supplements.
The online distribution channel segment is expected to grow at
the highest CAGR during the forecast period. Increased internet and
smartphone penetration along with the convenience of shopping from
home and doorstep delivery are pushing more consumers to purchase
workout supplements online. Online retailers provide a wider
variety of supplements at competitive prices and customers can
easily compare products and read reviews online before purchasing.
Leading supplement brands are also focusing on strengthening their
online presence and offering attractive deals to boost online
sales.
Key Market Takeaways:
The global workout supplements market is anticipated to witness
a CAGR of 10.9% during the forecast period 2023-2030, driven by the
growing health and fitness consciousness among consumers and the
popularity of bodybuilding as a sport and lifestyle.
On the basis of form, the powder segment is expected to hold a
dominant position, accounting for over 35% market share in 2023 due
to advantages like ease of dosing, mixing and high concentration of
ingredients.
On the basis of distribution channel, the online segment is
expected to expand at a higher CAGR during the forecast period
owing to increased e-commerce penetration and the convenience of
online shopping.
Regionally, North America is
expected to dominate the global market through 2030 due to
heightened awareness about nutrition, growing gyms and health club
memberships, and presence of leading supplement brands in the
region.
Key players operating in the global workout supplements market
include BSN, Finaflex, EFX Sports, Nutrex Research, SynTech
Nutrition, BPI Sports LLC, Nutrabolt, JNX Sports, SAN, and eFlow
Nutrition LLC. These companies are focused on new product launches,
partnerships and strengthening their distribution networks.
Recent Developments:
In July 2023, WWE announced an
expansion to their multi-year partnership with the launch of their
first-ever co-branded product collaboration.
In July 2023, Full Body Impact,
LLC, announced the launch of gold edition liquid collagen protein
supplement with hyaluronic acid and Vitamin C.
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Market Segmentation:
By Form:
- Powder
- Capsule/Tablets
- Ready to Drink
By Distribution Channel:
By Region:
North America:
Latin America:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe:
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East:
- GCC Countries
- Israel
- Rest of Middle East
Africa:
- South Africa
- North Africa
- Central Africa
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