New York, United States, June 8, 2021 (GLOBE NEWSWIRE) – According to a report investigated by Research Dive global market for sports nutrition and nutritional supplements is expected to have sales of $ 35,350.0 million by 2026, increasing from a market size of $ 13,900.0 million in 2018, to a significant one CAGR of 12.9% in 2019-2026. The market research captures the current market growth as well as the coming circumstances. Researchers conducted a market study by evaluating data and numbers using primary and secondary research approaches. Reference data from magazines, newspapers, books, authentic websites and magazines are also used when preparing the market report. The report also mentions the impact of the COVID-19 pandemic on the market.
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Key findings of the report
- Speculates on fundamental factors of the market including definition, pros and cons, and multiple fields of application.
- A comprehensive description of growth rate, market size, market situations, significant dynamics, statistics, revenues and future forecasts.
- Notable market segmentation, barriers, growth aspects, and investment opportunities.
- Present the state of the global and regional market by country, company and industry.
- Key insights into Porter’s Five Forces Analysis, current market trends and advancements, SWOT exam, leading market players, and creative business tactics.
Factors Affecting CAGR Numbers During Pre- and Post-Covid-19 Crisis
The global sports nutrition and dietary supplement market grew at a rate of 8.6% prior to the Covid-19 pandemic, but after the coronavirus outbreak, the market is expected to grow at a CAGR of 12.9%. The positive development of the market is mainly due to a changed way of life of the people towards more fitness and health. In addition, the increase in the consumption of sports nutrition products to boost immunity is likely to fuel market growth during the pandemic.
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Factors Affecting Market Share During Pre- and Post-Covid-19 Pandemic
The global sports nutrition and dietary supplement market was estimated to have a market share of $ 16,445.4 million prior to the 2020 pandemic, but sales of $ 17,497.9 million during the coronavirus outbreak. Maintaining good immunological health will aid recovery from a wide variety of viral diseases, including the coronavirus, according to the World Health Organization (WHO). In addition, nutritional deficiencies such as micronutrient deficiencies, protein and vitamin deficiencies can reduce immunity and increase susceptibility to infection.
These factors increase the need for supplements that help people stay fit and strengthen their immune systems. During the COVID-19 crisis, this element is greatly fueling the growth of the sports nutrition and nutritional supplement market.
Future size of the market
The globe Sports nutrition and nutritional supplements market It is estimated that growth will continue even after the pandemic has ended. During this time of crisis, most of the manufacturers focus mainly on R&D activities to produce unique products based on customization and personalization, which offers significant growth potential in the world market. In addition, there is a rapidly growing demand for online fitness and personal care activities due to internet usage that is expected to drive the growth of the market in the years to come.
For example, the Canadian government recently raised $ 5 billion in funding for leading agribusiness and food processors. This funding will provide additional support for alumni facing cash flow challenges and food processors experiencing reduced sales due to the COVID-19 outbreak.
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Important market participants:
The main players in the world market are
- Hormel Foods Corporation
- Glanbia plc
- PepsiCo Inc.
- The Coca Cola company
- Clif Bar & Company
- Abbott
- General Nutrition Centers, Inc.
- Yakult Honsha Co., Ltd
- Otsuka Holdings Co., Ltd
- MUSCLE PHARM
- POST HOLDINGS, INC.
- Reckitt Benckiser Group plc
These industry players are working on various strategies such as merging with key companies, introducing new products, entering into collaborations and profitable alliances, and funding research and development projects in order to maintain their competitiveness in the market.
For example, TRX developed a new product in 2019 called the TRX Home 2 Suspension Training Kit, which is a simple fitness routine for achieving fitness goals and weight loss and gain.
In addition, the report contains some numorus points about the leading company manufacturers, such as, SWOT analysis, product portfolio, financial status – inquire to get access to the detailed report on development strategy for top companies
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