Global Workout Supplements Market Size to worth $36.38 billion by 2030, growing at a CAGR of 10.9%, says Coherent Market Insights

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Jul 09, 2024, 04:07 ET

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:

Online
Offline

By Region:

North America:

U.S.
Canada

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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About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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