Global Sports Nutrition Market Size Projected to Reach $67 Billion by 2030 as Supplement Demand Explodes

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Jul 17, 2023, 13:32 ET

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., July 17, 2023 /PRNewswire/ -- Sports nutrition products are specialized nutrition products that are designed to boost performance and increase recovery speeds during and after sports activities such as athletics, workouts, or bodybuilding. Demand for these performance supplements extends to both professional and amateur athletes, as they help the user to accelerate muscle recovery and enhance the user's performance. A report from Allied Market Research projects that the global sports nutrition market size is projected reach $67.9 billion by 2030, registering a CAGR of 5.4% through 2030. The report said: "These products are used before and after physical activity to provide energy during the activity and help recovery post it. The most commonly used forms of sports nutrition products are protein powders and sports drinks. Most sports nutrition products are made with ingredients to boost physical capabilities and energy absorption by the body to gain maximum output from the efforts undertaken by the consumer. Sports nutrition products that contain protein promote building of new muscles in bodybuilders and helps maintain lean muscles in athletes, while products containing minerals, electrolytes, carbohydrates, and other types of nutrients help provide, energy, hydration, and nutrition to the body. A mixture of a variety of sports nutrition products are used by athletes to gain the best possible output and to properly supplement their nutritional needs during strenuous workouts and physical activities." It continued: "Sports nutrition industry was severely negatively impacted by the pandemic owing to closure of gyms and fitness centers due to lockdowns. With people becoming more concerned regarding their health, use of natural and clean label products is likely to gain high traction. In the post COVID-19 scenario, a greater inclination toward health and fitness and reopening of gyms and fitness centers will further aid in market expansion." Active companies in the markets this week include Element Nutritional Sciences Inc. (OTCQB: ELNSF) (CSE: ELMT), Celsius Holdings, Inc., (NASDAQ: CELH), Under Armour, Inc. (NYSE: UA), The Coca-Cola Company (NYSE: KO), PepsiCo, Inc. (NASDAQ: PEP).

Allied Market Research concluded: "The use of organic ingredients in the production of sports nutrition products is gaining high traction in the market as consumers are becoming more concerned with the use of ingredients used in the products. Furthermore, increase in demand from casual consumers, which are not actively engaged in any strenuous physical activities, is further driving market expansion. Furthermore, availability of such products is becoming much easier through the use of online stores and delivery services, which is further aiding in sports nutrition market growth. The North America segment dominates the global Sports Nutrition market and is expected to retain its dominance throughout the forecast period."

Element Nutritional Sciences Inc. (OTCQB: ELNSF) (CSE: ELMT) BREAKING NEWS: Element Nutritional Sciences Partners with U.S. E-commerce Pioneer Tradefull - Tradefull to manage Element's logistics, shipping and marketplace solutions - Element Nutritional Sciences Inc. (FRANKFURT: 93X) (the "Company" or "Element"), today announced that it has partnered with Tradefull, a leading U.S. e-commerce and logistics pioneer, to provide best-in-class shipping and logistics to support Rejuvenate™ and Promino™ brand growth.

Tradefull will manage Rejuvenate™ and Promino™ direct-to-consumer operations on Shopify and Element's marketplace activity on leading e-commerce platforms. With warehouses in Ohio and Arizona, this partnership with Tradefull allows for expedited delivery to any customer in North America

Tradefull was founded in 2003 as an e-commerce retailer and was one of the first third-party sellers on Amazon. Since then, Tradefull has shipped millions of orders to both consumers and businesses. Tradefull's proprietary software helps companies optimize shipping and logistics, and they are a trusted partner to leading U.S. retailers like Pier 1, Modell's, Radio Shack, Mossy Oak and Bodybuilding.com.

"As we scale, it is imperative to partner with organizations that can help us provide a seamless experience to our customers. Our core competency lies in the development of the Rejuvenate™ and Promino™ brands, and Tradefull is equally adept at helping to get our products into consumers hands and manage leading e-commerce platforms," said Stuart Lowther, Chief Executive Officer. CONTINUED… Read this full press release and more news for Element Nutritional Sciences at: https://www.financialnewsmedia.com/news-elmt/

Other recent developments in the markets of note include:

Celsius Holdings, Inc., (NASDAQ: CELH), maker of the leading global fitness drink, CELSIUS®, recently reported preliminary financial results for the first quarter ended March 31, 2023. Celsius achieved record first quarter revenue of $260 million, up 95% from $133 million in the prior year first quarter, driven predominantly by North American revenue which increased 101% to $249 million, up from $124 million in the prior year first quarter. North American revenue was driven by increases in distribution points and SKUs per location as well as some benefit from increased days inventory outstanding at the mixing centers of its largest distributor. International revenue increased approximately 15% to $11.4 million in the first quarter of 2023, from $9.9 million in the prior year quarter, driven in large part by the addition of a number of flavor innovations.

Gross profit for the first quarter of 2023 was $114 million, up 111% from $54 million in the prior year first quarter. Gross Profit as a percentage of revenue was 43.8% for the three months ending March 31, 2023, up from 40.4% in the prior year first quarter. Overall, gross profit margin improvements were driven by the reduced mix of international cans and cost savings initiatives, offset in part by some additional inventory write-offs and freight expense as Celsius continues to integrate into the PepsiCo distribution system and build a best in class supply chain across the United States. As of March 31, 2023, Celsius had $634 million in cash and cash equivalents compared to $26 million on March 31, 2022.

Under Armour, Inc. (NYSE: UA) recently announced unaudited financial results for its fourth quarter and fiscal year ended March 31, 2023. The company reports its financial performance following accounting principles generally accepted in the United States of America ("GAAP"). This press release refers to 'currency neutral' and 'adjusted' amounts, which are non-GAAP financial measures described below under the "Non-GAAP Financial Information" paragraph.

"I'm honored to lead this iconic brand, and I'm pleased that Under Armour delivered fiscal 2023 revenue and earnings results that were in line with our previous outlook," said Under Armour President and CEO Stephanie Linnartz. "Fiscal 2024 will be a year of building for the brand. I am prioritizing significantly amplifying global brand heat; delivering elevated design and products, with a focus on Sportstyle, footwear, and women; and positioning us to drive better sales growth in the United States."

The Coca-Cola Company (NYSE: KO) and eight bottling partners from around the world recently announced the closing of a new, $137.7 million venture capital fund focusing on sustainability investments. Greycroft, a seed-to-growth venture capital firm, will manage the Greycroft Coca-Cola System Sustainability Fund. The fund is the first of its kind for Greycroft, which invests in enterprise and consumer solutions across life cycles and industries.

The Coca-Cola system's carbon footprint is a major priority for the fund, so it will focus on five key areas with the most potential impact to start: Packaging, Heating and cooling, Facility decarbonization, Distribution and Supply chain. "This fund offers an opportunity to pioneer innovative solutions and help scale them quickly within the Coca-Cola system and across the industry," said John Murphy, President and Chief Financial Officer of The Coca-Cola Company. "We expect to benefit from getting access to emerging technology and science for sustainability and carbon reduction."

PepsiCo, Inc. (NASDAQ: PEP) recently announced a collaboration with the Stanford Institute for Human-Centered Artificial Intelligence, an organization dedicated to guiding and building the future of artificial intelligence. As the first CPG company to join Stanford HAI's Corporate Affiliate Program, PepsiCo aims to be the global corporate leader in industrialized AI applications and responsible AI and gain insights that advance research, education, policy and practice throughout the industry.

"At PepsiCo, we firmly believe that AI should augment the human experience and will contribute to our digitalization efforts throughout the company," said Athina Kanioura, Chief Strategy and Transformation Officer at PepsiCo. "Collectively, with Stanford HAI, we have a unique opportunity to engage with a community of leading experts, academics and engineers to understand the implications of this advancing technology and how it will enhance the human experience. As AI becomes more prevalent across the CPG industry, it is increasingly important to recognize the significance of ethical AI and its impact."

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