SAN FRANCISCO, March 17, 2020 /PRNewswire/ -- The global sports nutrition market size is expected to reach USD 31.0 billion by 2027, registering a CAGR of 8.9% over the forecast period, according to a new report by Grand View Research, Inc. Increasing importance of an active lifestyle owing to rise in sedentary jobs and shift in demographic base from core athletes to recreational athletes and lifestyle users are the key factors expected to drive the market. Moreover, increasing number of health and fitness centers and gyms, rising consumer awareness regarding the adoption of a healthy lifestyle, and demand for these products from athletes is expected to boost the market growth.
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Widespread product availability due to the presence of large companies is expected to drive the demand for these products. For instance, in 2018, Amazon launched its private label sports supplement brand "OWN PWR" for U.S. consumers. Companies such as Glanbia Plc; Abbott Laboratories Inc.; Neutra Science Labs; Hormel Foods Corporation; and GNC Corporation are the key players operating in the market. Moreover, favorable government initiatives to promote health, growing base of health-conscious population, and rising awareness about sedentary health risks further drive the market.
Moreover, the U.S. population is becoming increasingly health-conscious and hence focuses on adopting an active lifestyle. The International Health, Racquet & Sportsclub Association (IHRSA), a Boston-based, commercial health clubs trade association, reported a 3.6% rise in the number of health club members, from 55.3 million in 2015 to 57.3 million in 2016. The number of health clubs in U.S. increased by 5.2%, from 36,540 in 2016 to 38,447 in 2017. These health clubs and fitness centers have consulting dietitians, which influences the consumption of sports nutrition products among trainers and fitness enthusiasts.
Grand View Research has segmented the global sports nutrition market on the basis of product, distribution channel, and region:
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