Global Sports Nutrition and Supplements Market to Reach
New York, United States, June 08, 2021 (GLOBE NEWSWIRE) – According to a report studied by Research Dive, the global sports nutrition and supplements market should generate an income of $ 35,350.0 million by 2026, growing from a market size of $ 13,900.0 million in 2018, at an important level CAGR of 12.9% during the period 2019-2026. The market research brings together the current market growth along with the upcoming circumstances. Researchers conducted market research by evaluating data and numbers using primary and secondary research approaches. In addition, the benchmark data of periodicals, newspapers, books, authentic websites and journals are referenced when writing the market report. In addition, the report also cites the impact of the COVID-19 pandemic on the market.
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Key points of the report
- Specifies basic market factors including definition, pros and cons, and multiple areas of application.
- An inclusive description of growth rate, market size, market situations, important dynamics, statistics, revenue and future forecast.
- Market segmentation, obstacles, facets of growth and remarkable investment opportunities.
- Current state of the global and regional market across countries, companies and industries.
- Key insights into Porter’s Five Forces Analysis, Current Market Trends and Advances, SWOT Review, Major Market Players, and Creative Business Tactics.
Factors Affecting CAGR Numbers During Pre- and Post-Covid-19 Crises
The global sports nutrition and supplements market represented a growth rate of 8.6% before the Covid-19 pandemic, but the market is expected to grow at a CAGR of 12.9% after the coronavirus outbreak. The positive growth of the market is mainly due to a shift in people’s lifestyles towards a greater emphasis on fitness and health. Additionally, increasing consumption of sports nutrition products to boost immunity is likely to propel market growth during the pandemic.
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Factors affecting market share during the pre and post Covid-19 pandemic
The global sports nutrition and supplements market held a market share of $ 16,445.4 million before the pandemic in 2020, but the market generated sales of $ 17,497.9 million during the year. coronavirus epidemic. According to the World Health Organization (WHO), maintaining good immunological health will help recover from a variety of viral illnesses, including the coronavirus. In addition, nutritional deficiencies such as micronutrient, protein and vitamin deficiencies can reduce immunity and increase vulnerability to infections.
These factors increase the need for nutritional supplements that help people stay fit and strengthen their immune systems. During the COVID-19 crisis, this element significantly drives the growth of the sports nutrition and supplements market.
Future scope of the market
The Global nutrition and sports supplements market is expected to maintain its growth even after the end of the pandemic. During this time of crisis, most of the manufacturers mainly focus on R&D operations to produce unique products based on personalization and customer personalization, which is expected to generate significant growth potential in the global market. In addition, the demand for online fitness and body maintenance activities is growing rapidly due to the use of internet which is expected to drive the market growth in the coming years.
For example, the Canadian government recently raised $ 5 billion in funding for leading agri-food companies and food processors. This funding will provide additional assistance to professionals facing cash flow issues as well as food processors experiencing lost sales due to the COVID-19 outbreak.
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Key market players:
The main players in the global market are
- Hormel Food Company
- Glanbia plc
- PepsiCo Inc.
- The Coca Cola Company
- Clif Bar & Company
- General Nutrition Centers, Inc.
- Yakult Honsha Co., Ltd
- Otsuka Holdings Co., Ltd
- POST HOLDINGS, INC.
- Reckitt Benckiser plc Group
These industry players are working on several strategies such as merging with key companies, launching new products, engaging in profitable collaborations and mergers, and funding research and development projects to maintain their competitiveness on the market.
For example, TRX, for example, developed a new product in 2019 called “TRX Home 2 Suspension Training Kit,” which is a simple fitness routine for meeting fitness goals and losing and gaining weight. weight.
Besides, the report contains detailed information of major business manufacturers such as SWOT Analysis, Product Portfolio, Financial Status – Learn to Access the Detailed Top Companies Development Strategy Report.
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