Market revenue in 2023 | USD 6,858.2 million |
Market revenue in 2030 | USD 12,622.2 million |
Growth rate | 9.1% (CAGR from 2023 to 2030) |
Largest segment | Sports supplements |
Fastest growing segment | Sports Supplements |
Historical data covered | 2018 - 2022 |
Base year for estimation | 2023 |
Forecast period covered | 2024 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Sports Supplements, Sports Drinks, Sports Foods, Meal Replacement Products, Weight Loss Product |
Key market players worldwide | Iovate Health Sciences International, Abbott Laboratories, Quest Nutrition, PepsiCo Inc, Mondelez International Inc Class A, The Coca-Cola Company, MusclePharm Corp, The Bountiful Company, Post Holdings Inc, Nestle SA |
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The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to sports nutrition market will help companies and investors design strategic landscapes.
Sports supplements was the largest segment with a revenue share of 32.22% in 2023. Horizon Databook has segmented the Latin America sports nutrition market based on sports supplements, sports drinks, sports foods, meal replacement products, weight loss product covering the revenue growth of each sub-segment from 2018 to 2030.
Growing consumer focus on health & fitness and increasing willingness to spend on sports nutrition products are some of the factors anticipated to drive market demand in this region. For instance, a survey conducted by Arla Foods Ingredients in 2018 revealed that about 61% of respondents were willing to spend more on beverages/sports drinks that are high in protein content.
The survey was conducted on 4,000 consumers in Brazil, Argentina, and Columbia. Increasing prevalence of obesity in this region is also one of the factors expected to lead to an increase in demand for sports nutrition supplements, owing to their health benefits. According to the Panorama of Food and Nutrition Security in Latin America and the Caribbean, in 2017, nearly 360 million (58%) people in this region were obese.
The highest obesity percentages were observed in the Bahamas, Mexico, and Chile. Growing disposable income in this region is also boosting demand for sports supplements. In addition, companies in this region are researching on newer flavors to cater to the demands of consumers, increasing product penetration.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America sports nutrition market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America sports nutrition market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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