The global B2B sports nutrition market was estimated at USD 2.41 billion in 2022 and it is expected to surpass around USD 6.17 billion by 2032, poised to grow at a CAGR of 9.84% from 2023 to 2032.
Report Scope of the B2B Sports Nutrition Market
|Market Size in 2022||USD 2.41 billion|
|Revenue Forecast by 2032||USD 6.17 billion|
|Growth rate from 2023 to 2032||CAGR of 9.84%|
|Forecast Period||2023 to 2032|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Covered||Glanbia PLC; Abbott; PepsiCo; General Nutrition Centers, Inc; The Bountiful Company; Clif Bar & Company; Science in Sport; The Hut Group; Cardiff B2B Sports Nutrition Limited; Iovate Health Sciences; Musclepharm; Post Holdings, Inc; Herbalife International of America, Inc.|
The rising demand for nutrition products in the form of protein bars, sports supplements, energy drinks, and other dietary supplements amongst athletes and recreational fitness enthusiasts is one of the key factors driving the market. Additionally, there has been a surge in the number of gyms and fitness centers across the globe, which is attributable to a rising inclination toward a healthy and physically active lifestyle amongst the consumers, thereby positively influencing the market growth.
Moreover, gyms, fitness centers, and wellness centers endorse sports nutrition products and other well-being products which would significantly contribute to growth and development. Rapid urbanization coupled with an increase in disposable income and healthcare expenditure is another driving factor. Easy availability and accessibility to business-to-business (B2B) sports nutrition products across online and offline distribution channels are also propelling the market growth. The Covid-19 pandemic breakout resulting in temporary lockdowns, closure of gyms and fitness clubs, and postponement of sporting events has negatively impacted the growth of the market for B2B sports nutrition.
The rising inclination towards pursuing an active lifestyle among consumers is positively impacting the adoption of sports nutrition products. The surge in the number of fitness centers and gyms globally is aligning against consumers’ active lifestyle goals. The number of consumers actively participating in sporting and fitness events is rising and boosting demand for sports nutrition products. As per the “Physical Activity Council” study in 2018, nearly 64% of the U.S. population aged 6 and above is associated with physical activities. Consumers are focusing on self-care and are consciously tracking nutrition and health.
The global population is focusing on health and is adopting an active lifestyle. As per estimates of the International Health Racquet and Sportsclub Association (IHRSA), in 2010 the number of health club consumers was 58.0 million, which has increased exponentially to 73.6 million in 2019. Additionally, the desire for a perfect physique amongst younger generations is anticipated to drive the market for B2B sports nutrition. Moreover, the shift in the mentality from curative care to preventive care is driving the awareness levels regarding the importance of a healthy lifestyle and consumption of sports nutrition products in the consumers which are expected to positively impact the market for B2B sports nutrition.
Key players are undertaking various initiatives, such as launching new products and constantly innovating different formulations, which is driving the market for B2B sports nutrition. For instance, In December 2020, Abbott announced the launch of a new Pedialyte formulation to support immune health through key nutrient composition. This formulation includes electrolytes, glucose, zinc, and vitamins B12, C, and E. In addition, companies also leverage the growing trend of consuming plant-based or vegan products, to launch similar products in that category. For instance, MuslceBlaze launched Biozyme Immunity Whey containing ashwagandha herb in September 2020. Product innovations in terms of new flavors of sports nutrition products are also driving the market.
B2B Sports Nutrition Market Segmentations:
|By Application||By Distribution Channel|